Currency (Amendment) Bill

Bill No. 29/1995

Read the first time on 7th August 1995.

An Act to amend the Currency Act (Chapter 69 of the 1992 Revised Edition).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows:

Short title and commencement

1. This Act may be cited as the Currency (Amendment) Act 1995 and shall come into operation on such date as the Minister may, by notification in the Gazette, appoint.

New section 20A

2. The Currency Act is amended by inserting, immediately after section 20, the following section:

“Control of full colour copying machines

20A.—(1) Except with the written permission of the Board, no person shall import, manufacture, sell or offer for sale, or have in his possession any full colour copying machine that can reproduce any currency note or any design resembling any currency note (referred to in this section as copying machine).

(2) Any person who sells or lets on hire a copying machine shall give notice in writing to the Board of the transaction as soon as possible.

(3) No person shall use a copying machine except in accordance with such regulations as may be prescribed by the Board.

(4) Any person who contravenes —

(a)	subsection (1) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding one year or to both; or
(b)	subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000 or to imprisonment for a term not exceeding 3 months or to both.

(5) An officer of the Board may seize any copying machine in respect of which he has reasonable ground to suspect that an offence has been or is being committed under subsection (1) or (3).

(6) An officer of customs within the meaning of the Customs Act [Cap. 70] may seize any copying machine where he has reasonable ground to suspect that the machine is imported without the written permission of the Board.

(7) Any such copying machine seized under subsection (5) or (6) shall be kept in the custody of the Board pending the decision of the court.

(8) Upon conviction of any person for an offence under subsection (1) or (3), the copying machine in respect of which the offence was committed shall be forfeited to the Board.

(9) A person who is in possession of a copying machine which was imported with the approval of the Board before the commencement of the Currency (Amendment) Act 1995 shall be deemed to have been granted permission to possess that machine by the Board under subsection (1).”.

Amendment of section 22A

3. Section 22A of the Currency Act is amended by inserting, immediately after subsection (3), the following subsection:

“(3A) There shall be charged upon the Currency Fund Income Account all expenses relating to the investment of the Reserve Fund.”.

New section 30A

4. The Currency Act is amended by inserting, immediately after section 30, the following section:

“Protection from personal liability

30A. No suit or other legal proceedings shall lie against any member, officer or employee of the Board or other person acting under the direction of the Board for anything which is in good faith done or intended to be done in the execution or purported execution of this Act.”.

Amendment of section 31

5. Section 31 of the Currency Act is amended by inserting, immediately after the word “Act”, the words “or prescribing anything that may be prescribed”.

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