§ Mr. Lomasasked the Chancellor of the Exchequer if, notwithstanding his Written Answer, Official Report, 16th February, columns 355–6, he will instruct the Bank of England to ensure that all new £1 notes have a number printed on the left-hand side of the note as well as the right-hand side, so as to provide satisfactory evidence of destruction where a note has been mutilated or destroyed, and to prevent the possibility of fraudulent claims.
§ Mr. Denzil DaviesPrior to the introduction of the new £1 note one of the requirements for acceptance of a mutilated £1 note was that it must bear one complete series index and number, but this was only one of the requirements.
At the time of issue of the new £1 note the Bank of England circulated revised instructions to the banks and Post Office covering the acceptance of mutilated notes. I am satisfied that the new instructions adequately safeguard against fraudulent claims.