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Extraordinary issues of consolidated bank notes.
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55.—Whenever a Shareholding Bank is for any reason temporarily unable to comply with the provisions of this Act in relation to the issue to it of consolidated bank notes or the having such notes outstanding and also whenever a Shareholding Bank has outstanding the whole of its quota and temporarily requires a further issue of consolidated bank notes, the Commission may if it so thinks fit by unanimous vote and with the consent of the Minister make to such Bank an extraordinary issue of consolidated bank notes but such extraordinary issue shall be subject to the conditions imposed in regard thereto by this Act and also to the condition that the Commission may in addition to its powers under any other section of this Act, require such bank to give or provide to the Commission such security as the Commission shall direct and also to the limitations that such extraordinary issue shall not continue for more than twelve months and may be terminated by the Commission at any time during such twelve months and that the amount of consolidated bank notes outstanding at any one time on such extraordinary issue shall not exceed the amount at that time of the accumulated profits in excess of capital of such Bank.
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