While I was waithing for your reply, I researched the issue a bit more. Here is what I found:The arrangements in the UK are unusual, but comparable systems are used in Hong Kong and Macao, where three and two banks respectively issue their own banknotes in addition to their respective governments.

Because they were issued WITH the BOE's athority, I would have thought they would have been legal tender in the UK as well as Hong Kong, since they issued other British notes that were legally issued on the BOE.

Is the rumor that the picture on the note is not true as well? (You in Drag?)