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All Bank of Scotland notes bear a portrait of Sir Walter Scott on the front in commemoration of his 1826 Malachi Malagrowther campaign for Scottish banks to retain the right to issue their own notes. [9] The Bank of Scotland's 2007 series of banknotes is known as the Bridges of Scotland series. These notes were introduced on 17 September 2007 ...
The Bank Notes (Scotland) Act 1845 was passed the following year, and to this day, three retail banks retain the right to issue their own sterling banknotes in Scotland, and four in Northern Ireland. [ 22 ] [ 23 ] Notes issued in excess of the value of notes outstanding in 1844 (1845 in Scotland) must be backed up by an equivalent value of Bank ...
The Bank Notes (Scotland) Act 1765 [1] (5 Geo. 3. c. 49) was an Act of the Parliament of Great Britain that introduced restrictions on the use of banknotes by the Scottish banks. The act was from the Fourth Session of the Twelfth Parliament of Great Britain at Westminster; beginning May 19, 1761 and lasting until January 10, 1765. [2]
They are exchangeable with other pound notes on a one-to-one basis, and circulate freely within the United Kingdom, though not legal tender, not even in Scotland and Northern Ireland. In fact, technically, no banknote (including Bank of England notes) qualifies as legal tender in Scotland or Northern Ireland. [5]
The issuing of banknotes by Scottish banks was regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009. [1] Scottish banknotes are legal currency and are generally accepted throughout the United Kingdom. However, they are not legal tender; not even in Scotland, where only Royal Mint coins are
Long title: An Act to amend the law relating to the issue of bank notes by the Bank of England and by banks in Scotland and Northern Ireland, and to provide for the transfer to the Bank of England of the currency notes issue and of the assets appropriated for the redemption thereof, and to make certain provisions with respect to gold reserves and otherwise in connection with the matters ...
It first issued notes in 1727, the same year the bank was founded. The issuing of banknotes by Scottish banks was formerly regulated by the Banknote (Scotland) Act 1845 until it was superseded by the Banking Act 2009. [3] Scottish banknotes are legal currency throughout the United Kingdom, though they are not legal tender.
The £10 note is currently the second smallest denomination of banknote issued by the Bank of Scotland. [4] Scottish banknotes are not withdrawn in the same manner as Bank of England notes, and therefore several different versions of the Bank of Scotland ten pound note may be encountered [5] although the Committee of Scottish Bankers encouraged ...