Currency Act, 1927

Retirement and cancellation of consolidated bank notes.

57.—The Commission shall make by regulation or otherwise such arrangements as it thinks proper for the retirement by Shareholding Banks of consolidated bank notes issued to them under this Act (including the retirement of any such notes which have become worn or damaged and the issue of new notes in lieu thereof) and for the cancellation and destruction by or on behalf of the Commission of such retired consolidated bank notes as it does not think proper to preserve for re-issue.