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BANKERS' COMPOSITION (IRELAND) ACT 1828 - SECT 7

Bankers issuing unstamped notes to give security by bond for the keeping and delivering accounts of notes.

7. Before any licence shall be granted to any person or persons to issue any
unstamped promissory notes under the authority of this Act, such person or
persons shall give security by bond to His Majesty, with a condition that if
such person or persons do and shall from time to time enter or cause to be
entered, in a book or books to be kept for that purpose, an account of all
such unstamped promissory notes as he or they shall so as aforesaid issue,
specifying the amount or value thereof respectively, and the several dates of
the issuing thereof, and in like manner also a similar account of all such
promissory notes as, having been issued as aforesaid, shall have been
cancelled, and the dates of the cancelling thereof; and do and shall from time
to time, when thereunto requested, produce and shew such accounts to, and
permit the same to be examined and inspected by the said commissioners of
stamps, or any officer of stamps appointed under the hands and seals of the
said commissioners for that purpose; and also do and shall deliver to the said
commissioners of stamps half-yearly (that is to say,) within fourteen days
after the first day of January and the first day of July in every year, a just
and true account in writing, verified upon the oaths or affirmations (which
any justice of the peace is hereby empowered to administer), to the best of
the knowledge and belief of such person or persons, and of his or their
cashier, accountant, or chief clerk, or of such of them as the said
commissioners shall require, of the amount or value of all unstamped
promissory notes issued under the provisions of this Act in circulation,
within the meaning of this Act, on a given day, that is to say, on Saturday in
every week, for the space of half a year prior to the half-yearly day
immediately preceding the delivery of such account; together with the average
amount or value of such promissory notes so in circulation according to such
account;... and on due performance thereof such bond shall be void, but
otherwise the same shall be and remain in full force and virtue.

© 1828 Crown Copyright

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