[1] Although not official legal tender in Wales, they would have enjoyed a similar status to Scottish and Northern Irish banknotes as promissory notes.
In March 1969 Richard issued notes called Banknotes of the Chief Treasury of Wales Limited.
[1] Williams was forced to change the name of his company in 1969 and he selected Cwmni y Ddafad Ddu Gymreig Cyfyngedig ("Welsh Black Sheep Company Limited"),[1] recalling the banknotes which had been issued in the early 19th century by the Aberystwyth and Tregaron Bank and which featured an picture of black sheep.
The phrase in question is "Gynt, Prif Trysorfa Cymru Cyfyngedig", the company thus describing itself as "formerly, Chief Treasury of Wales Ltd".
The Board of Trade imposed numerous restrictions on the denominations permitted, Williams's use of the term "£G" (meaning "Welsh pound", suggesting a separate currency) and his use of the Prince of Wales's feathers in the designs.