Bank of Ireland (UK) plc
A Bill to provide that the statutory right of The Governor and Company of the Bank of Ireland to issue bank notes shall transfer and apply to Bank of Ireland (UK) plc; and for connected purposes.
The Bill (as originally introduced) makes provision for the transfer to the Bank of Ireland (UK) plc of the statutory right to issue banknotes in Northern Ireland that is currently conferred on the Governor and Company of the Bank of Ireland. The transfer of this right will take place on a day to be appointed by the board of the Bank of Ireland (UK) plc.
The transfer made under these provisions will mean that the Bank of Ireland (UK) plc will become an authorised bank for the purposes of Part 6 of the Banking Act 2009 so that it may issue banknotes in Northern Ireland in accordance with the provisions of Part 6. The Governor and Company of the Bank of Ireland will cease to be an authorised bank for this purpose.