18 Penalty for persons, other than bankers hereby authorized, issuing notes payable on demand for less than 5l.U.K.
If any body politic or corporate or any person or persons shall make, sign, issue, or re-issue in Scotland any promissory note payable on demand to the bearer thereof for any sum of money less than the sum of five pounds, [F1 except banknotes issued in reliance on section 213 of the Banking Act 2009 ], then and in either of such cases every such body politic or corporate or person or persons so making, signing, issuing, or re-issuing any such promissory note as aforesaid, except as aforesaid, shall for every such note so made, signed, issued, or re-issued forfeit the sum of twenty pounds.
Textual Amendments
F1Words in s. 18 substituted (23.11.2009) by Banking Act 2009 (c. 1), ss. 214(2)(b), 263(1) (with s. 247); S.I. 2009/3000, art. 3