Charter dated 20 July 1861
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Chartered Bank of India Australia & China
Sir Reginald E Welby G.C.B.
Secretary
Hatton Court, Threadneedle Street
London 28th March 1893.
C. O.
H.M. Treasury
5131
Whitehall
REC
Dear Sir,
ELG1:20 MAR 93,
Referring to recent correspondence and to the subject discussed at the interview which I and my colleague Sir Alfred Dent had with you, I now beg to inform you that the Directors have had occasion to carefully consider the clauses in the Bank's Charter relating to its Note Circulation. The conclusion they have come to is that they have hitherto wrongly interpreted the conditions in the Charter regulating the Note Issue.
For the sake of reference we give in extenso the special provisions in the Charter relating to the Bank's Note Circulation:-
"And we do further will and ordain that it shall and may be lawful for the said Company during the continuance of this Our Royal Charter at and from such Banks or Branch Banks or any of them as they may hereafter establish under or by virtue of this Our Royal Charter to make issue and circulate Notes payable to bearer on demand or otherwise and to re-issue the same provided that no such Notes shall be issued in the island of Ceylon for any other sum than the sum of ten shillings local currency or of five rupees or some multiple of such ten shillings or of such five rupees or other equivalent amount or ten shillings sterling and for the Island of Hongkong and other places in China for any other sum than five dollars or one pound sterling or some multiple of such five dollars