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I thank the Minister for listing the various banks that supply us. It is one of those circumstances in which Wikipedia proved correct before the Committee. I thank her for providing clarification on what happens in mergers, which is topical and important. I have another question to ask, partly to provoke the hon. Member for Dundee, East. Were a bank falling within the definition of an authorised bank to relocate from Scotland or Northern Ireland to elsewhere in the United Kingdom, would it still be able to benefit from the provisions, or would it be disqualified from issuing banknotes?
The hon. Gentleman is right. Clause 196 defines authorised bank as it is used throughout part 6. Since the current legislation was enacted, as I hinted earlier, there have been restrictions in place governing note issuance by these banks. As I said earlier, the Bill modernises and strengthens the framework for note issuance, with a view to enhancing noteholder protection.
The hon. Gentleman asked specifically whether a bank relocating elsewhere in the United Kingdom would still be able to issue notes. If it moved elsewhere and relocated in the UK, it would still be able to benefit. It would not lose its authorisation on the grounds of relocation elsewhere in the UK. I hope that that answers the hon. Gentlemans question about the definition of authorised bank.