Currency Regulations

Status:

Not current version
(version history — see timeline)

Currency Act

(Chapter 69)

Currency Regulations

Rg 1

REVISED EDITION 1990

(25th March 1992)

[16th September 1991]

Citation

1. These Regulations may be cited as the Currency Regulations.

Application

2. These Regulations shall apply to —

(a)	deposits of currency notes and coins by banks;
(b)	withdrawals of currency notes and coins by banks; and
(c)	currency notes and coins presented to the Authority in exchange for currency notes and coins. [S 57/2011 wef 11/02/2011]

Fees

3.—(1) A fee at the rate of $3 per 1,000 pieces of currency notes shall be payable to the Authority for currency notes presented to the Authority in exchange for notes and coins or for deposits with the Authority.

[S 234/2004 wef 01/05/2004]

[S 57/2011 wef 11/02/2011]

(2) A fee at the rate of $3.50 per 1,000 pieces of coins shall be payable to the Authority for coins presented to the Authority in exchange for notes and coins or for deposits with the Authority.

[S 57/2011 wef 11/02/2011]

(3) The fee payable under paragraph (2) shall be waived for the series of coins first issued on 20th November 1967.

(4) The fee payable under paragraph (1) shall be waived for the ‘Orchid’, ‘Bird’ and ‘Ship’ series of notes first issued from 12th June 1967 to 18th May 1995.

(5) For the avoidance of doubt, the fee specified in paragraph (1) or (2) shall not be payable to the Authority in respect of any currency note or coin, or any series thereof, during the period that the Authority’s functions in relation to the reissue and exchange of such currency note, coin or series (as the case may be) is transferred to another body pursuant to section 15(2) of the Act.

[G.N. Nos. S 395/91; S 102/97; S 386/99; S 234/2004; S 57/2011]

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