Country_Bankers_Act_1826

Country Bankers Act 1826

Country Bankers Act 1826

United Kingdom legislation

The Country Bankers Act 1826[1] was an Act of the Parliament of the United Kingdom enacted during the reign of George IV. The Act restricted the issue of banknotes by commercial banks in England and Wales. It relaxed some of the laws of the Bank of England Act 1709, allowing joint-stock banks with more than six partners to issue bank notes, as long as they were located more than 65 miles (105 km) from London.[2]

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This Act also allowed the Bank of England to open branches in major provincial cities, enabling better distribution for its notes.[2]

The Country Bankers Act 1826 was one of the Bank Notes Acts 1826 to 1852.[3]

References

Notes

  1. [1]
    The citation of this Act by this short title was authorised by the Short Titles Act 1896, section 1 and the first schedule. Due to the repeal of those provisions it is now authorised by section 19(2) of the Interpretation Act 1978.
  2. [2]
    A brief history of banknotes Bank of England (retrieved 8 October 2007)
  3. [3]
    The Short Titles Act 1896, section 2(1) and Schedule 2
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