The Colonial Bank of Issue was a New Zealand state owned bank that operated between 1847 and 1856 in an early unsuccessful attempt to create a government-owned issuer of bank notes in New Zealand. The bank was created by an

Ordinance Ordinance may refer to: Law * Ordinance (Belgium), a law adopted by the Brussels Parliament or the Common Community Commission * Ordinance (India), a temporary law promulgated by the President of India on recommendation of the Union Cabinet * ...

of the

Governor of New Zealand The governor-general of New Zealand ( mi, te kāwana tianara o Aotearoa) is the viceregal representative of the monarch of New Zealand, currently King Charles III. As the King is concurrently the monarch of 14 other Commonwealth realms and l ...

, Sir

George Grey Sir George Grey, KCB (14 April 1812 – 19 September 1898) was a British soldier, explorer, colonial administrator and writer. He served in a succession of governing positions: Governor of South Australia, twice Governor of New Zealand, Go ...

. Its first manager was Charles Knight. Pressure from the newly formed Colonial Parliament, the Union Bank of Australasia, and the local commercial sector, along with views developed in the Colonial Office in the United Kingdom to allow experimentation on competition in the issue of banknotes, led to the bank being wound up by the New Zealand Colonial Bank of Issue Winding-Up Act 1856.

References

The legal history of money in New Zealand, Ken Matthews, Reserve Bank of New Zealand: Bulletin Vol. 66 No. 1
Defunct banks of New Zealand Government-owned companies of New Zealand 1847 establishments in New Zealand Banks established in 1847 1856 disestablishments in New Zealand Banks disestablished in 1856 {{bank-stub