Part 6Banknotes: Scotland and Northern Ireland

Specific issues

219Ceasing the business of issuing notes

1

If an authorised bank at any time after commencement stops issuing banknotes, it may not resume issuing banknotes in reliance on section 213.

2

Banknote regulations or rules—

a

may specify procedures to be followed by an authorised bank that intends to stop issuing banknotes, and

b

may apply to an authorised bank for two years after it stops issuing banknotes.