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.

[11/82; 25/2002]

(2) Currency 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.

[3/91; 25/2002]

(3) Coins of a denomination issued by the Authority, if the coins have not been illegally dealt with, are legal tender up to their face value for the payment of an amount not exceeding 20 times the face value of a coin of that denomination.

[Act 6 of 2019 wef 14/03/2019]

(4) Where a payee has given written notice to the payer that he would not accept as payment all or any of the denominations of currency 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]

(5) Where no written notice under subsection (4) 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]

(6) 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 currency 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]

(6A) For the purposes of this Act, a currency note is also deemed to have been illegally dealt with if the currency note has been mutilated, destroyed or permanently damaged (whether by the application of a staining or degradation agent to the currency notes or otherwise) as a result of the activation of an IBNS.

[Act 6 of 2019 wef 14/03/2019]

(7) 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.

[3/91; 25/2002]

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

[11/82; 3/91; 25/2002]

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