Statute Details
- Title: Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2014
- Act Code: CA1967-S869-2014
- Type: Subsidiary Legislation (Notification)
- Authorising Act: Currency Act (Chapter 69)
- Enacting Provision: Made pursuant to section 17(5) of the Currency Act
- Instrument Number: SL 869/2014
- Date of Notification: 30 December 2014
- Commencement / Effective Date (as stated): Coins to be issued on 8 January 2015
- Status: Current version as at 27 March 2026
- Subject Matter: Denominations and characteristics of coins to be issued by the Monetary Authority of Singapore (MAS)
What Is This Legislation About?
The Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2014 is a Singapore subsidiary legislative instrument that publicly specifies the denominations and physical characteristics of certain coins to be issued by the Monetary Authority of Singapore (MAS). In practical terms, it is the legal “specification sheet” that tells the public, merchants, and relevant stakeholders exactly what coins will exist, what values they represent, and how they are designed or described.
Although the extract provided is brief, the notification’s legal function is clear from its enacting formula: it is issued “for general information” under the Currency Act. The notification does not create a broad regulatory regime by itself; rather, it operationalises the Currency Act by setting out the details of coin issuance for a particular date—here, 8 January 2015.
For lawyers and compliance professionals, this type of notification matters because it affects how currency is defined and recognised in law. Coin characteristics and denominations are not merely commercial or design choices; they are part of the legal framework that supports confidence in currency, ensures consistent recognition of legal tender, and reduces disputes about authenticity or value.
What Are the Key Provisions?
1. Legal basis and purpose (section 17(5) of the Currency Act)
The notification is made pursuant to section 17(5) of the Currency Act. The extract states that it is “hereby notified for general information” that the denominations and characteristics of the coins to be issued on 8 January 2015 by MAS are “as shown in the Schedule.” This indicates that the notification’s core operative content is the Schedule, which would list the relevant coin specifications.
2. Identification of the issuance date and issuing authority
The instrument expressly ties its specifications to a particular issuance event: coins to be issued on 8 January 2015. It also identifies the issuing authority as the Monetary Authority of Singapore. This matters legally because it links the schedule to a defined time and to the entity empowered to issue currency under the Currency Act. In disputes about whether a coin is part of the official series, the issuance date and the issuing authority provide important contextual anchors.
3. Denominations and characteristics “as shown in the Schedule”
The extract does not reproduce the Schedule itself, but it makes clear that the Schedule contains the detailed specifications. Typically, such schedules in coin-related notifications would cover items such as: the coin’s face value (denomination), metal or composition (if relevant), dimensions, design features, inscriptions, and other identifying characteristics that allow the public and businesses to distinguish the coin reliably. The legal effect is that the Schedule’s content becomes the authoritative reference for what those coins are.
4. “For general information” and the regulatory effect
The notification is stated to be “for general information.” That phrase can sometimes be misunderstood as implying that the instrument is merely informational. In Singapore legislative practice, however, “for general information” in this context typically means that the notification is published to inform the public of the official specifications that MAS is authorised to issue. The practical legal effect is still significant: it establishes the official denominations and characteristics that underpin recognition of the coins as part of Singapore’s currency system.
How Is This Legislation Structured?
This notification is structured in a straightforward way, consistent with many subsidiary notifications under the Currency Act:
(1) Title and identification — The instrument is identified as “Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2014” and is designated SL 869/2014.
(2) Enacting formula — The enacting formula states the legal basis: it is made pursuant to section 17(5) of the Currency Act.
(3) Operative statement — The notification states that it is notified for general information that the denominations and characteristics of coins to be issued on 8 January 2015 are as shown in the Schedule.
(4) The Schedule — The Schedule is the substantive part containing the coin specifications. In a practitioner’s review, the Schedule is the primary document to consult because it is where the legal details reside.
Who Does This Legislation Apply To?
The notification is directed at the public and stakeholders who interact with Singapore currency. While it is not a “regulatory code” imposing duties on a wide class of regulated persons, it has practical applicability to anyone who must recognise, handle, accept, or verify Singapore coins—such as retailers, banks, payment service providers, cash-in-transit companies, and businesses that operate vending machines or automated payment systems.
More specifically, the notification applies in the sense that it defines the official denominations and characteristics of the coins MAS will issue on the stated date. For legal purposes, that definition becomes relevant in contexts such as: disputes about whether a coin is genuine or part of the official series; questions about value recognition; and compliance obligations for entities that must ensure their cash handling systems can identify and process the correct coin types.
Why Is This Legislation Important?
First, coin specifications are foundational to the functioning of a currency system. If denominations and characteristics were not formally specified, there would be greater risk of confusion, fraud, and inconsistent recognition. This notification supports legal certainty by providing an authoritative reference for what coins are intended to be issued and how they are identified.
Second, from an enforcement and dispute-resolution perspective, the notification provides evidential value. In cases involving counterfeit coins, misrepresentation of coin value, or failures of automated systems, the official denominations and characteristics in the Schedule can be used to establish what the coin should look like and what value it should represent. Even though the extract does not show the Schedule, the legal mechanism is clear: the Schedule is incorporated by reference and is the authoritative specification.
Third, the notification demonstrates how Singapore’s Currency Act delegates operational details to subsidiary instruments. Lawyers advising on currency-related compliance, financial crime risk, or operational readiness for new coin series should treat these notifications as part of the legal landscape. They may not be “high-profile” statutes, but they can be critical in regulated environments where cash handling and verification are subject to internal controls and audit expectations.
Related Legislation
- Currency Act (Chapter 69) — In particular, section 17(5) (the enabling provision for coin denomination and characteristic notifications)
- Currency (Denominations and Characteristics of Coins) Notifications — Including other “No. 1”, “No. 2”, etc. notifications that specify different coin series or issuance rounds (as applicable)
Source Documents
This article provides an overview of the Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2014 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.