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Yep the War Banner is a Magic Item / Magic Banner and so can only be take by units / characters that are able to take Magic Banners.
And only 1 per army.
You can find it with the other common magic items on page 122 of the rulebook.
Thou shalt remember:
Warhammer Fantasy armies do NOT have Codices. They have Army Books.
LINK - Guitarists of LO Group