Bank Charter Act 1844
1844 c.32
An Act to regulate the Issue of Bank Notes, and for giving to the Bank of England certain Privileges for a limited Period.
Preamble omitted under authority of Statute Law Revision Act 1891 (c. 67)
1 Bank to establish a separate department for the issue of notes.
The issue of promissory notes of the governor and company of the Bank of England, payable on demand, shall be separated and thenceforth kept wholly distinct from the general banking business of the said governor and company; and the business of and relating to such issue shall be thenceforth conducted and carried on by the said governor and company in a separate department, to be called “the Issue Department of the Bank of England,” . . . F1
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6 Weekly account in form in schedule (A.) to be rendered by the Bank of England. C3
An account of the amount of Bank of England notes issued by the issue department of the Bank of England, and of gold coin and of gold and silver bullion respectively, and of securities, in the said issue department, and also an account of the capital stock, and the deposits, and of the money and securities belonging to the said governor and company in the banking department of the Bank of England, on some day in every week to be fixed by the F5commissioners of inland revenue, shall be transmitted by the said governor and company weekly to the said commissioners, in the form prescribed in the schedule hereto annexed marked (A.), and shall be published by the said commissioners, in the next succeeding London Gazette in which the same may be conveniently inserted.
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C510 No banker not issuing notes on 6th May 1844, to issue notes hereafter. C4
No person other than a banker who on the sixth day of May one thousand eight hundred and forty-four was lawfully issuing his own bank notes shall make or issue bank notes in any part of the United Kingdom.
11 Restriction against issue of bank notes.
It shall not be lawful for any banker to draw, accept, make, or issue, in England or Wales, any bill of exchange or promissory note or engagement for the payment of money payable to bearer on demand, or to borrow, owe, or take up, in England or Wales, any sums or sum of money on the bills or notes of such banker payable to bearer on demand, . . . F9
12 Bankers ceasing to issue notes may not resume. C6
If any banker in any part of the United Kingdom who shall be entitled to issue bank notes shall become bankrupt, or shall cease to carry on the business of a banker, or shall discontinue the issue of bank notes, either by agreement with the Bank of England or otherwise, it shall not be lawful for such banker at any time thereafter to issue any such notes.
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F1927 Bank to enjoy privileges, subject to redemption.
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28 Interpretation clause.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F16 in this Act. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F16 the term “Bank of England notes” shall extend and apply to the promissory notes of the Bank of England payable to bearer on demand; and the term “banker” shall extend and apply to all corporations, societies, partnerships, and persons, and every individual person, carrying on the business of banking, whether by the issue of bank notes or otherwise, except only the Bank of England; and the word “person” used in this Act shall include corporations; and the singular number in this Act shall include the plural number, and the plural number the singular, except where there is any thing in the context repugnant to such construction; and the masculine gender in this Act shall include the feminine, except where there is any thing in the context repugnant to such construction.
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SCHEDULES to which the Act refers.
C7SCHEDULE (A.)
Power to modify Sch. (A.) given by Coinage Act 1971 (c. 24), s. 12(4) Sch. (A.) modified by Currency and Bank Notes Act 1928 (c. 13), s. 10
Bank of England.
An Account pursuant to the Act 7 & 8 Vict. Cap. for the Week ending on the day of
£ | £ | ||
Notes issued | Government debt | ||
Other securities | |||
Gold coin and bullion | |||
Silver bullion | |||
———— | ———— | ||
£ | £ | ||
———— | ———— | ||
Dated the day of 18 .
———————Cashier
£ | £ | ||
Proprietors capital | Government securities (including dead weight annuity) | ||
Rest | Other Securities | ||
Public deposits (to include Exchequer, saving banks, commissioners of national debt, and dividend accounts) | Notes | ||
Other deposits | Gold and silver coin | ||
Seven day and other bills | |||
———— | ———— | ||
£ | £ | ||
———— | ———— | ||
Dated the day of 18 .
———————Cashier.
F18F18SCHEDULES (B.), (C.)
Schs. (B.), (C.) repealed by Statute Law (Repeals) Act 1971 (c. 52), Sch. Pt. III
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Short title given by Short Titles Act 1896 (c. 14) Act amended (S.) (N.I.) by Stamp Act 1854 (c. 83), s. 11