(1) The rules may make provision for the implementation of a note exchange programme and for the collection and destruction of an authorised bank’s banknotes.

(2) In particular, the rules may specify -

(a) the procedure which noteholders must follow in order to make their claims;

(b) requirements with which an authorised bank must comply;

(c) assistance and information which an authorised bank must provide; and

(d) permissions or consents which an authorised bank must grant to the Bank of England or a person acting on its behalf.