The stewardship was established by royal charter in 1554, during the reign of Mary I.
By the same charter, Banbury became a parliamentary borough, which the seat remained until 1885.
The High Steward was a major figure within the corporation, and the role was closely associated with the town's Parliamentary representation.
[1] In today’s civic hierarchy the High Steward, who is usually a peer and has to be at least a knight of the realm, is an ‘officer of dignity and influence’ but with few specific duties and no monetary rewards.
[4] The role fell dormant following the death of the 20th Baron Saye and Sele in 1968; it was revived in February 2016 for Sir Tony Baldry.