Currency Bill - Singapore Statutes Online

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1 Short title and commencement

3 Establishment and purpose of Board

4 Incorporation, etc.

5 Employment of officers, etc.

6 Composition of the Board

7 Meetings of the Board

8 General disqualifications for Deputy Chairman and other members

9 Member’s interest in contract to be made known

10 Preservation of secrecy

11 Currency of Singapore

13 Use of Singapore Dollar

14 Board to have sole right to issue currency; legal tender

15 Bills and notes payable to bearer on demand

16 Conversion of currency notes and coins into sterling and vice versa

17 Conversion of currency notes and coins into gold and other foreign currencies and vice versa

19 Form and design of currency notes and coins

20 Demonetisation of currency notes and coins

21 Imperfect notes or coins

22 Restriction on the use of photographs, drawing or design of notes in advertisements, etc

24 External assets of Fund

25 Currency Fund Income Account

26 Meeting of deficiencies in the Fund

28 Board’s financial year

30 Annual accounts and report

32 Preliminary acts and expenses

33 Continued issue of the Commissioners’ coins

34 Exchange of the Commissioners’ notes and coins

35 Repeal and saving

Currency Bill

Bill No. 5/1967

Read the first time on 27th February 1967.

An Act to establish the Board of Commissioners of Currency, Singapore, and the National Currency of Singapore and to provide for matters connected therewith.

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

PART I

PRELIMINARY

Short title and commencement

1.—(1) This Act may be cited as the Currency Act, 1967, and shall come into operation on such date as the President may, by notification in the Gazette, appoint.

(2) The President may appoint different dates for the coming into operation of different provisions or Parts of this Act.

Interpretation

2. In this Act, unless the context otherwise requires —

“Board” means the Board of Commissioners of Currency, Singapore, established by section 3 of this Act;

“Commissioners” means the Board of Commissioners of Currency, Malaya and British Borneo, reconstituted in accordance with the terms of the 1960 Currency Agreement;

“foreign” means pertaining to a country other than Singapore;

“foreign exchange” means foreign currencies and claims in and to foreign currencies;

“issue” includes re-issue;

“the 1960 Currency Agreement” means the Malaya British Borneo Currency Agreement, 1960.

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