![]() ![]() It also guarantees they are always easy to spend since recent notes are more recognizable to merchants. Having the power to remove legal tender status from bank notes is a way to complete their removal from circulation and to help ensure that Canadians have access to the most current and secure bank notes. The Minister of Finance is responsible for both the Bank of Canada Act and the Currency Act, and the changes made to allow the removal of legal tender status from bank notes were initiated by the Minister in consultation with the Bank of Canada and other agencies. Amendments to the Bank of Canada Act and the Currency Act approved by Parliament in 2018 gave the Government of Canada the power to remove legal tender status from bank notes-something it could not do before. ![]()
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