Statute Details
- Title: Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2021
- Act Code: CA1967-S963-2021
- Legislative Type: Subsidiary legislation (Notification)
- Authorising Act: Currency Act (Chapter 69)
- Key Enabling Provision: Section 17(5) of the Currency Act
- Instrument Number: SL 963/2021 (No. S 963)
- Date of Notification: 23 December 2021
- Status: Current version as at 27 March 2026
- Commencement: The coins described are to be issued on 1 January 2022
- Parts: Not applicable (notification with a Schedule)
- Key Content: Description of the 2022 Chinese Almanac Coins (Year of the Tiger) to be issued on 1 January 2022
What Is This Legislation About?
The Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2021 is a Singapore subsidiary legal instrument that sets out, for public information, the denominations and physical characteristics of certain coins to be issued by the Monetary Authority of Singapore (MAS). In practical terms, it provides the official legal specification for a particular coin series—here, the 2022 Chinese Almanac Coins (Year of the Tiger).
Although the notification is short in the extract provided, its legal function is clear: it is issued “pursuant to section 17(5) of the Currency Act” and is published so that the public and market participants can rely on an authoritative statement of what coins will be issued and what they look like. This matters for collectors, retailers, cash-handling businesses, and anyone who needs to identify or handle currency correctly.
In plain language, the notification tells you: “MAS will issue specified coins on a specified date, and the coins will have the denominations and characteristics described in the Schedule.” The Schedule is therefore the operative content for the coin design and specification.
What Are the Key Provisions?
1. Legal basis and purpose (Pursuant to section 17(5) of the Currency Act)
The notification states that it is “notified for general information” that the denominations and characteristics of the coins to be issued on 1 January 2022 are as shown in the Schedule. This framing is important: it indicates the notification is not merely administrative; it is a formal legal publication that gives effect to the Currency Act’s mechanism for specifying coin details.
2. The Schedule: description of the coin series
The Schedule is titled: “Description of the 2022 Chinese Almanac Coins (Year of the Tiger) to be issued on 1 January 2022.” In a typical coin specification schedule, the Schedule will set out details such as the coin’s denomination (e.g., the face value), design features, inscriptions, and physical characteristics (for example, metal composition, diameter, weight, edge type, and other distinguishing marks). Even though the extract does not reproduce the full Schedule text, the legal significance is that the Schedule is where the precise specifications are recorded.
3. Issuance date and official identification
The notification ties the described coins to a specific issuance date: 1 January 2022. This is a key practical provision. For businesses and collectors, the issuance date affects how coins are distributed, when they enter circulation (if applicable), and when they should be recognised as legal tender or as part of MAS’s official coin programme. The notification therefore supports certainty in the market.
4. Publication for “general information”
The notification’s purpose clause emphasises that it is “notified for general information.” This language signals that the document is intended to be publicly accessible and reliable. In disputes—such as misidentification of coin types, questions about whether a coin belongs to the authorised series, or compliance questions for cash-handling systems—this kind of notification can be used as an authoritative reference.
How Is This Legislation Structured?
This notification is structured in a straightforward way typical of coin-specification instruments:
- Enacting formula / opening statement: identifies the legal basis (section 17(5) of the Currency Act) and states the purpose (general information).
- THE SCHEDULE: contains the detailed description of the coins to be issued. Here, the Schedule is specifically for the 2022 Chinese Almanac Coins (Year of the Tiger).
- Instrument metadata: includes the instrument number (SL 963/2021 / No. S 963) and the date of notification (23 December 2021).
There are no “Parts” in the extract, and the notification appears to operate primarily through the Schedule. For practitioners, this means the Schedule should be treated as the core legal content: it is the place where the denomination and characteristics are actually specified.
Who Does This Legislation Apply To?
The notification is directed at the public in the sense that it is published “for general information.” However, its practical impact is felt by parties involved in the handling, recognition, and distribution of Singapore coins—particularly those who need to ensure accuracy in identifying coin types.
In practice, the notification is relevant to:
- Monetary Authority of Singapore (MAS): as the issuing authority for the coin programme.
- Financial institutions and cash-handling businesses: for coin sorting, authentication, and operational compliance.
- Retailers and payment service providers: where coin recognition affects customer transactions.
- Collectors and numismatic dealers: for accurate identification of the authorised coin series and its official specifications.
While the notification itself may not impose detailed obligations on private parties (based on the extract), it functions as an official reference point. Where questions arise about whether a coin matches the authorised description, the Schedule provides the benchmark.
Why Is This Legislation Important?
Even though the notification is narrow—focused on a specific coin series and issuance date—it is important for legal certainty and operational reliability. Currency systems depend on standardisation: coins must be identifiable, consistent, and officially described. By publishing the denomination and characteristics, the notification reduces ambiguity and supports uniform recognition across the economy.
From a practitioner’s perspective, the notification can be relevant in several scenarios:
- Disputes over coin authenticity or classification: If a coin is alleged to be part of the “2022 Chinese Almanac Coins (Year of the Tiger)” series, the Schedule’s official description is the authoritative reference.
- Compliance and operational controls: Cash-processing systems often require reference data for coin recognition. Official specifications help ensure that automated and manual processes align with MAS’s issued coin characteristics.
- Market conduct and consumer protection: Collectors and dealers rely on accurate descriptions. Official publication helps prevent misinformation and supports fair dealing.
Finally, the notification illustrates how Singapore’s currency framework uses subsidiary instruments to update and specify coin details over time. Rather than amending the Currency Act each time a new coin series is launched, MAS can rely on the statutory authority in section 17(5) to publish the relevant denominations and characteristics through notifications like this one.
Related Legislation
- Currency Act (Chapter 69) — in particular, section 17(5) (the enabling provision for notifications specifying coin denominations and characteristics).
- Currency (Denominations and Characteristics of Coins) (No. 1) Notification 2021 — relevant as a companion instrument if it issued other coin series in 2021 (exact title/number should be confirmed in the legislation database).
- Currency (Denominations and Characteristics of Coins) (No. 3) Notification 2021 — similarly relevant if other coin series were specified in the same year (confirm exact instrument number).
Source Documents
This article provides an overview of the Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2021 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.