Economic Adjustment Programme for Cyprus be saved and transferred to Bank of Cyprus (BoC), while shareholder capital would be written off, and the uninsured deposits above €100,000 – along with other creditor claims – would be lost to the degree being decided by how much the receivership subsequently can recover from liquidation of the remaining bad assets. As an extra safety measure, uninsured deposits above €100,000 in BoC will also remain frozen until a recapitalisation has been implemented "(with a possible imposed haircut if this is later deemed needed to reach the requirement for a 9% tier 1 capital ratio)". The targeted closure of Laiki
Bank Notes Tax Act 1910 Bank Notes Tax Act 1910 The Bank Notes Tax Act 1910 was an Act of the Parliament of Australia which imposed a prohibitive tax on banknotes issued by banks in Australia. The Act was enacted in October 1910 by the Fisher Labour Government under Section 51 (xii) of the Constitution of Australia that gives the Commonwealth Parliament the power to legislate with respect to “currency, coinage, and legal tender” and the taxing power. The Act imposed an annual tax of 10% on "all bank notes issued or re-issued by any bank in the Commonwealth after the commencement of this Act