Statute Details
- Title: Coins to Be Issued on 10th May 1996
- Act Code: CA1967-S204-1996
- Legislation Type: Subsidiary Legislation (SL)
- Authorising Act: Currency Act (Chapter 69)
- Key Authorisation Provision: Section 17(5) of the Currency Act
- Instrument Number: S 204
- Commencement / Effective Date: 10 May 1996 (date of intended issuance)
- Status: Current version as at 27 Mar 2026 (as reflected in the legislation database)
- Primary Form: Notification for general information, with details set out in the Schedule
What Is This Legislation About?
This subsidiary legislation is a formal notification issued under the Currency Act (Chapter 69) to announce that certain currency items—specifically, coins—will be issued on 10 May 1996. In practical terms, it is an administrative/legal instrument that gives official notice of the denomination and characteristics of the coins to be issued on that date.
The instrument is not a “policy law” in the way a primary Act is. Instead, it functions as a regulatory announcement that operationalises the Currency Act’s framework for issuing currency. It ensures that the public and relevant stakeholders (including financial institutions, retailers, cash-handling businesses, and collectors) have authoritative information about what will be introduced into circulation.
Although the extract provided references “currency note” in the notification text, the title and the overall context indicate that the instrument is intended to cover the coins to be issued on the specified date. In any practitioner’s review, the Schedule is the critical source for the exact denominations and characteristics, and should be consulted to confirm the precise subject matter and specifications.
What Are the Key Provisions?
1. Legal basis and purpose (Pursuant to section 17(5) of the Currency Act)
The notification is expressly made “pursuant to section 17(5) of the Currency Act”. This is significant because it ties the instrument’s validity to a specific statutory power. Section 17(5) (as the authorising provision) is the mechanism by which the Board of Commissioners of Currency, Singapore (BCCS) can issue currency items and have their particulars notified for general information.
2. Date-specific issuance notice (10th May 1996)
The instrument states that it is “hereby notified for general information” that the relevant currency item(s) will be issued on 10 May 1996. This makes the notification time-bound: it is designed to inform the public about what will be issued on a particular date, rather than establishing ongoing rules for future issuances.
3. Denomination and characteristics set out in the Schedule
The notification indicates that the “denomination and characteristics” of the currency item to be issued are “as shown in the Schedule hereto.” This is the core substantive content. In practice, the Schedule typically lists details such as denomination, design features, inscriptions, and other physical or security-related characteristics. For lawyers and compliance teams, the Schedule is where the “what exactly is being issued” question is answered.
4. Official issuer: Board of Commissioners of Currency, Singapore
The notification identifies the issuer as the Board of Commissioners of Currency, Singapore. This matters for governance and accountability: it clarifies that the BCCS is the body responsible for the issuance and that the notification is an official communication reflecting the Board’s determinations under the Currency Act.
Practitioner note on the extract’s wording
The extract includes the phrase “currency note to be issued on 10th May 1996”. However, the title and the user-provided description refer to “Coins to Be Issued on 10th May 1996”. When advising clients, a practitioner should treat the Schedule as determinative and verify whether the instrument indeed concerns coins, notes, or both. If there is a mismatch, it may be a database/typographical issue in the extract, or it may reflect that the instrument is part of a broader set of currency notifications. The correct approach is to consult the full text and the Schedule.
How Is This Legislation Structured?
This instrument is structured in a straightforward, notification-style format typical of subsidiary legislation made under currency powers. It comprises:
(a) Enacting formula — The formal legal statement that the instrument is made under the authority of the Currency Act, specifically section 17(5).
(b) The Schedule — The substantive part containing the denomination and characteristics of the currency item(s) to be issued on 10 May 1996.
(c) Metadata and procedural elements — The instrument includes status information (current version as at 27 Mar 2026), and it is linked to the legislation timeline and amendment annotations. In many such notifications, amendments may be minimal or may relate to consolidation/versioning rather than changing the original issuance details.
Who Does This Legislation Apply To?
The notification is framed “for general information,” which means it is intended to be publicly accessible and to inform the general public and market participants about currency characteristics. While it does not usually impose direct obligations on individuals in the way a regulatory code might, it has practical effects for those who handle cash and currency instruments.
In particular, the instrument is relevant to:
- Financial institutions (banks, payment service providers, and cash-in/cash-out operators) that must ensure their cash processing systems can recognise and handle the specified coins.
- Retailers and cash-handling businesses that require accurate cash acceptance and change-making capabilities.
- Currency collectors and numismatics stakeholders who rely on official specifications for authenticity and identification.
- Regulatory and compliance teams within institutions that need to maintain records of currency types in circulation and ensure operational readiness.
Because the instrument is a notification rather than a prescriptive regulatory regime, the “applicability” is best understood as informational and operational—it affects how stakeholders implement systems and procedures around currency issuance.
Why Is This Legislation Important?
Even though this instrument is brief, it plays an important role in the legal and operational infrastructure of Singapore’s currency system. Currency issuance is not merely a commercial or technical exercise; it is a matter governed by statute. By issuing a notification under the Currency Act, the BCCS ensures that the introduction of new coins (or related currency items) is anchored in a clear legal authority and communicated through an official legal channel.
From a practitioner’s perspective, the importance lies in certainty and traceability. The notification provides an official reference point for the denomination and characteristics of the currency item to be issued on a specific date. This can matter in disputes or compliance contexts—for example, where a cash-handling system fails to recognise a coin, where there is confusion about authenticity or specifications, or where an institution needs to demonstrate that it acted in accordance with official currency information.
Additionally, the instrument illustrates how Singapore uses subsidiary legislation to operationalise primary legislation. The Currency Act sets broad powers and governance; subsidiary notifications like this one translate those powers into concrete, date-specific issuance details. For lawyers advising on regulatory compliance, this is a useful model: it shows that the “real-world” content (denominations and characteristics) is often found in the Schedule of a notification, not in the short operative text.
Related Legislation
- Currency Act (Chapter 69) — In particular, section 17(5) (the authorising provision for the notification).
- Legislation Timeline / Related “Timeline” entries — The instrument is linked to the legislation timeline and versioning information, which may be relevant for determining the correct version as at a given date.
Source Documents
This article provides an overview of the Coins to Be Issued on 10th May 1996 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.