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New Zealand Gazette – 1856 – No. 24

Page 149

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✨ Text of Legislation

149

BANK PAPER CURRENCY ACT, 1856.

IN THE TWENTIETH YEAR OF THE REIGN OF HER MAJESTY QUEEN
VICTORIA.

SESSION 4, No. 4.

ANALYSIS.
Title.
Preamble.

Governor with advice of Executive Council
may authorise Banks incorporated by
Royal Charter to issue paper money.
Governor with advice of his Executive
Council may authorise Union Bank of
Australia to issue paper money.
Royal Charters granted to banking com-
panies to have the effectof Acts of Assem-
bly.
Short title.

AN ACT to enable certain Banking Companies to issue paper money.
(Assented to 7th July, 1856.)

W HEREAS it is expedient to enable the Governor of New Preamble.
Zealand, with the advice of his Executive Council, to permit
certain Banking Companies to issue paper money: Be it therefore
enacted by the General Assembly of New Zealand as follows:---

It shall be lawful for the Governor or other officer adminis- Governor with advise
tering the Government for the time being of New Zealand with the may authorise Banks
advice of his Executive Council by proclamation in the New Zea- incorporated by Royal
land Government Gazette from time to time to proclaim and declare Charter to issue paper
that any banking company or copartnership incorporated by Her money.
Majesty's letters patent, which by virtue of such letters patent is
or shall be empowered to carry on the business of a banker in
New Zealand and to issue and circulate within the said Colony
the promissory notes of the company payable to bearer on demand,
may lawfully issue and circulate such notes within the said
Colony, any law or Ordinance to the contrary thereof notwith-
standing, but subject to the provisions and restrictions in such
letters patent contained.

VUW Te Waharoa — NZ Gazette 1856, No 24

Parliament sat at General Assembly House (nicknamed the 'Shedifice') in Auckland from 1854-1864, sharing the building with the Auckland Provincial Council.

Ironically the Upper House met on the lower story, and the Lower House on the upper story.

✨ LLM interpretation of page content

🏛️ Act to enable certain Banking Companies to issue paper money

Domain🏛️ Governance & Central Administration
Dated7 July 1856
KeywordsLegislation, Banking, Paper Currency, Royal Charter, Governor, Executive Council

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