1. A monthly return shall be made to the president of the Association by all Banks doing business in Canada, in the form hereinafter set forth; the said Return shall be made up and sent in within the first twenty days of each month, and shall exhibit the condition of the Bank's note circulation on the last Juridical day of the month next preceding; and every such Monthly Return shall be signed by the Chief Accountant or Acting Chief Accountant and by the President or Vice-President, or by any Director of the Bank, and by the General Manager or other Chief Executive Officer of the Bank at its chief place of business. Every such Monthly Return which shows therein notes destroyed during such month, shall be accompanied by a corticate or certificates in the form hereinafter set forth, covering all the notes mentioned as destroyed in such Return, signed by at least three of the Directors of the Bank, and by the Chief Executive Officer or some officer of the Bank acting for him, stating that the notes mentioned in such certificate or certificates have been destroyed in the presence of and under the supervision of the persons respectively signing such certificate or certificates respectively.

Form of Monthly Return of Circulation Above Mentioned.

Circulation Statement of the ...............................

Here state name of Bank.......

For the month of....................................19.....

Credit Balance of Bank Note Accounts on last day of preceding .......month (inclusive of unsigned notes)..........$

Add notes received from printers during month, viz.:

From .................................. $...........$........

From ................................. $...........$........

Less notes destroyed during month (as per certificate herewith)...........................$........

Balance of Bank Note Accounts on last day of month ........................................ $........

Less notes on hand, viz:

Signed ............................. $

Unsigned ......................... $.......-----$........

Notes in circulation on last day of month...........$........

Paid-up capital on last day of month................$........

Reserve Fund on last day of month..................$........

Deposit in Central Gold Reserves on last day of month $........

Notes of other Canadian Banks held on last day of month ........................................$........

Chief Accountant. We declare that the foregoing Return, to the best of our knowledge and belief, is correct, and shows truly and clearly the state and position of the Note Circulation of the said Bank during and on the last day of the period covered by such Return.

Dated at..........................this.................day of ......................19......

President.

General Manager.

Form of Certificate of Destruction of Notes Arove Mentioned.

Certificate of Destruction of Notes of the (here mention name of Bank), accompanying Monthly Circulation Statement for month of..................A.D. 19......

We, the undersigned, hereby certify that we have examined bank notes of this Bank amounting to $.............., consisting of the following, viz.: (here set out the denominations) and have burned and destroyed the same and that the said notes so burned and destroyed by us are not included in any other Certificate of Destruction of Notes signed by us or any of us, or to the best of our knowedge and belief, by any other person to accompany the present or any Monthly Circulation Statement made or to be made to the President of the Canadian Bankers' Association.

............................ this......................day of 19...

...............................

...............................

..............................

Directors. General Manager.

2. The President of the Association or the person who, during a vacancy in the office of or in the absence of the President, may be acting as President of the Association, may, from time to time, by writing under his hand, appoint one or more person or persons to be the representative or representatives of the Association at the burning and destruction of the bank notes of any Bank specified in such appointment, and when bank notes shall have been burned and destroyed by or in the presence and under the supervision of any such representative or representatives, his or their signatures to the certificate of destruction, in the prescribed form, shall for all purposes be equivalent to the signatures of at least three Directors of the Bank in the foregoing sub-section provided for. The President, or Acting President as aforesaid, may. from time to time rescind the authority of any such representatives so appointed, and the Banks affected by such rescission shall be immediately notified of such rescission.

3. Whenever in any month the amount of the notes of a Bank in circulation shall be in excess of its unimpaired paid-up capital, it shall be the duty of such Bank, within the first thirty days after the last day of such month, to make to the President of the Association a Return showing the same particulars as those required under Section 61, sub-sections 17 and 18, of the Bank Act. Such Return shall be signed as provided by the said section of the said Act 4 The Bank of British North America. - For all purposes of this By-law, the chief place of business of the Bank of British North America shall be the chief office of the said Bank at the City of Montreal, in the Province of Quebec.

And, in the case of the said Bank of British North America, the said Returns shall be signed by the Assistant Secretary or Acting Assistant Secretary, and by the General Manager or Acting General Manager, of the said Bank; and the said certificate of destruction of notes shall be signed by the General Manager or Acting General Manager, and also either by the Inspector or Assistant Inspector, and the Local Manager or Acting Local Manager of the Montreal Branch of the said Bank, or (in substitution for the signatures of such last-mentioned officials) by a representative of the Association duly appointed for that purpose, from time to time, by the President or Acting President, instead of by the persons respectively hereinbefore d'rected to sign the said Returns respectively.

5. Penalty for Neglect. Every Bank which neglects to make up and send in, as aforesaid, any Return required by this By-law within the time by this By-lay limited, shall incur a penalty of fifty dollars for each and every day after the expiration of such time during which the Bank neglects so to make up and send in such Return.

6. Inspection. The Executive Council shall have power, by resolution, at any time to direct that an inspection shall be made of the circulation accounts of any Bank by an officer or officers to be named in such resolution, and such inspection shall be made accordingly.

7. Inspection and Report. Some person or persons appointed from time to time by the Executive Council of the Association shall, each year make inspection of the circulation accounts of every Bank doing business in Canada, and shall report thereon to the Council; and upon every much inspection all and every of the Officers of the Bank whose circulation accounts shall be so inspected shall give and afford to the Officer or Officers making such inspection, all such information and assistance as he or they may require to enable him or them fully to inspect the said circulation accounts, and to report to the Council upon the same, and upon the means adopted for the destruction of the notes.

8. Collection of Penalties. The amount of all penalties imposed upon a Bank for any violation of this By-law shall be recoverable and enforceable with costs, at the suit of the Association, and such penalties shall belong to the Association for the uses of the Association.

9. Statement of Circulation. The President of the Association shall each month have printed and forwarded to the Chief Executive Officer of every chartered Bank in Canada, subject to the Bank Act, a statement of the Circulation Returns of all the chartered Banks in Canada for the last preceding month, as received by him.