An act of Australian federal parliament outlawing the circulation of State government issued currency. Pased in conjunction with the Australian Bank Notes Tax Act 1910. The Bank Notes Tax Act of 1910 effectively ended the era of private currency in Australia. ...

It allowed the Federal government Treasurer to issue notes in denominations of 10s., £1, £5, and £10 and any multiple of £10. These were to be legal tender and payable in gold coin on demand at the Commonwealth Treasury.

The Commonwealth Bank Act of 1920 transfered this function from the teasury to the commonwealth bank.

See Also

Australian Bank Notes Tax Act 1910 The Bank Notes Tax Act of 1910 effectively ended the era of private currency in Australia. ...