Currency Act - Singapore Statutes Online

Authority to have sole right to issue currency; legal tender

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

[25/2002 wef 01/10/2002]

[11/82]

(2) Notes issued by the Authority, if the notes have not been illegally dealt with, shall be legal tender up to their face value for the payment of any amount.

[25/2002 wef 01/10/2002]

[3/91]

(3) Coins issued by the Authority, if the coins have not been illegally dealt with, shall be legal tender up to their face value in Singapore as follows:

(a)	in the case of coins of a denomination exceeding 50 cents — for the payment of any amount;
(b)	in the case of coins of a denomination of 50 cents — for the payment of an amount not exceeding $10; and
(c)	in the case of coins of a denomination lower than 50 cents — for the payment of an amount not exceeding $2. [2/69; 11/82; 3/91] [25/2002 wef 01/10/2002]

(3A) Where a payee has given written notice to the payer that he would not accept as payment any or all of the denominations of notes or coins in satisfaction of a debt, subsection (2) or (3), as the case may be, shall not apply to the payment of the debt to the extent specified in the notice.

[25/2002 wef 01/10/2002]

(3B) Where no written notice under subsection (3A) has been given by the payee, payment by the payer in accordance with subsection (2) or (3), as the case may be, in satisfaction of a debt, shall be deemed to have satisfied that debt.

[25/2002 wef 01/10/2002]

(4) For the purposes of this Act —

(a)	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; and
(b)	a note shall be deemed to have been illegally dealt with where the note has been impaired, diminished or affected otherwise than by fair wear and tear, or has been defaced by writing or impressing on any note any mark, word, letter or figure or by perforation, cutting, splitting or in any other manner, whether the note has or has not been thereby impaired or diminished. [3/91]

(5) In any criminal proceedings in which the genuineness of any currency note or coin may be in question, a certificate signed by an officer of the Authority authorised for that purpose 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.

[25/2002 wef 01/10/2002]

[3/91]

(6) No officer of the Authority shall be cross-examined with regard to the contents of such certificate unless the court otherwise orders.

[25/2002 wef 01/10/2002]

[11/82; 3/91]

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