(1) The Commission shall take such steps as it thinks proper to ensure that the amount of consolidated bank notes outstanding with any particular Shareholding Bank at any one time otherwise than on an extraordinary issue does not exceed the quota or proportion of the maximum limit at that time assigned to such Bank under this section.
(2) If and so long as no Bank other than the Banks named in the Third Schedule to this Act is a Shareholding Bank and whether all or some only of such Banks are Shareholding Banks the quota of each Shareholding Bank shall, unless and until otherwise provided under this section, be the proportion which the sum set out in the said Third Schedule opposite to the name of such Bank bears to the sum of six million pounds.
(3) At or within one month before the expiration of the initial period and the expiration of every period of three years thereafter the Commission shall consider the quotas of the several Shareholding Banks and may vary the amounts of all