UK Statutory Instrument SI 2009/3056 United Kingdom

The Scottish and Northern Ireland Banknote Regulations 2009

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person4 Employer1

Plus 2 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Employer — also bound by 682 other Acts
TULRCA 1992 72 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.004 Bank of England approval Regulated
  • Comply with conditions the Bank of England attaches to approvalsAny Person
s.006 Backing assets Regulated
  • Hold sufficient backing assets for your banknotes in circulationAny Person
s.010 Unissued banknotes Regulated
  • Use only Bank of England-approved custodians for unissued banknotesEmployer
s.011 Cessation of note issue Regulated
  • Follow cessation procedure when stopping note issue or losing right to issueAny Person
s.012 Temporary continuation of note issuing after cessation Regulated
Other duties (1) — Crown / regulator
  • Bank of England may permit temporary note-issuing after authorisation endsStatutory regulator
s.020 Notification of insolvency Regulated
  • Notify Bank of England immediately if you become insolventAny Person
s.027 Temporary continuation of note issuing after insolvency Regulated
Other duties (1) — Crown / regulator
  • Bank of England may allow temporary note-issuing after insolvencyStatutory regulator
26 other provisions — procedural and definitional
s.001 Citation and commencement
s.002 Interpretation
s.003 Rules
s.005 Consultation before commencement of Regulations
s.007 Value of backing assets to be held by an authorised bank
s.008 Interest on a designated account
s.009 Ownership of, and interests in, backing assets
s.013 Provision of information to the Bank of England
s.014 Reports as to banknotes and backing assets
s.015 Independent reports
s.016 Publication or disclosure by Bank of England of enforcement action
s.017 Permitted publication or disclosure of information
s.018 Annual report by Bank of England
s.019 Interpretation
s.021 Note exchange programme
s.022 Rights of noteholders
s.023 Backing assets
s.024 Note exchange programme: commencement and duration
s.025 Unissued banknotes
s.026 Rules relating to a note exchange programme and destruction of banknotes
s.028 Notes issued after loss of note issuing rights
s.029 Modification of law of insolvency
s.030 Processes serving a similar purpose to insolvency
s.031 Laws serving a similar purpose to Part 4 of the Financial Services and Markets Act 2000
s.032 Court orders
s.033 Penalties
Schedules

Schedules

0 of 22 shown
22 other schedules
s.sch001 Interpretation
s.sch001 Modifications to the Bank Insolvency (Scotland) Rules 2009
s.sch001 Modifications to the Insolvency Act 1986 and the Insolvency (Northern Ireland) Order 1989
s.sch001 Modifications to the Companies Act 2006
s.sch001 Modifications to the Banking Act 2009
s.sch001 Modifications to the Insolvency (Scotland) Rules 1986
s.sch001 Modifications to the Insolvency Rules (Northern Ireland) 1991
s.sch001 Modifications to the Bank Administration Rules (Northern Ireland) 2009
s.sch001 Modifications to the Bank Insolvency (No. 2) Rules (Northern Ireland) 2009
s.sch001 Modifications to the Bank Administration (Scotland) Rules 2009
s.sch003 Notice of proposal
s.sch003 Variation of proposal
s.sch003 Decision notice
s.sch003 Maximum penalty
s.sch003 Statement of policy on penalties
s.sch003 Service of notices
s.schedule/2/part/1/paragraph/wrapper1n2 A compromise or arrangement between a bank and its creditors...
s.schedule/2/part/1/paragraph/wrapper2n2 Company examinership
s.schedule/2/part/1/paragraph/wrapper3n2 Receivership
s.schedule/2/part/1/paragraph/wrapper4n2 Liquidation
s.schedule/2/part/1/paragraph/wrapper5n2 The appointment of a provisional liquidator
s.schedule/2/part/2/paragraph/wrapper6n2 Section 7 of the Central Bank Act 1971

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.