The Bank of Canada issued a press release in February 1935 announcing details of the banknotes to "prevent possible confusion" amongst the public and as a protective measure against counterfeiting. The Bank of Canada Act which had established the Bank of Canada also resulted in the repeal of the Finance Act and the Dominion Notes Act. With the introduction of the 1935 Series into circulation, the Dominion of Canada banknotes were withdrawn from circulation by the Bank of Canada from 1935 to 1950, which also replaced the Department of Finance as the nation's exclusive issuer of banknotes.