Exchequer Bills and Bonds Act, 1866

Counterfoils.

4. All the said Exchequer bills shall be prepared and made out with such counterfoils as shall be directed by the Treasury; and, unless otherwise directed by the Treasury, two counterfoils shall be made to every such Exchequer bill; one of such counterfoils shall remain in the custody of the Bank of England for their use, to prevent their being imposed upon by counterfeit or forged bills; and when the Exchequer bills shall have been paid off, cancelled, and discharged, and the account thereof shall have been audited and allowed, it shall be lawful for the Treasury to authorize and direct the Bank of England to burn or otherwise destroy the said counterfoils, as being of no further use to the public service; the second of such counterfoils shall, unless by special direction of the Treasury, be delivered to and remain in the custody of the Comptroller and Auditor General, subject to such directions as shall be given by the Treasury from time to time for keeping, or burning, or otherwise destroying the same.