Currency Act - Singapore Statutes Online

Board to have sole right to issue currency; legal tender

13.—(1) The Board shall have the sole right to issue currency notes and coins in Singapore and only such notes and coins issued by the Board shall be legal tender in Singapore.

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(2) (a) Notes issued by the Board shall be legal tender up to their face value for the payment of any amount.
(b)	Coins issued by the Board, if the coins have not been illegally dealt with, shall be legal tender up to their face value in Singapore as follows:
(i)	in the case of coins of a denomination exceeding 50 cents — for the payment of any amount;
(ii)	in the case of coins of the denomination of 50 cents — for the payment of an amount not exceeding $10; and
(iii)	in the case of coins of a denomination lower than 50 cents — for the payment of an amount not exceeding $2.

(3) For the purposes of this Act, a coin shall be deemed to have been illegally dealt with where the coin has been impaired, diminished, or lightened otherwise than by fair wear and tear, or has been defaced by having any name, word, device or number stamped or engraved thereon, whether the coin has or has not been thereby diminished or lightened.

(4) In any criminal proceedings in which the genuineness of any currency note or coin may be in question, a certificate signed by the Deputy Chairman of the Board that he is satisfied by personal examination that such note or coin is or is not forged shall be held to be conclusive evidence of the same and neither the Deputy Chairman nor any officer of the Board shall be cross-examined with regard to the contents of such certificate unless the court otherwise orders.

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