Statute Details
- Title: Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2021
- Act Code: CA1967-S963-2021
- Type: Subsidiary Legislation (SL)
- Authorising Act: Currency Act (Chapter 69)
- Authorising Provision: Section 17(5) of the Currency Act
- Legislative Instrument Number: SL 963/2021
- Status: Current version as at 27 Mar 2026
- Date of Notification: 23 Dec 2021
- Commencement: Not stated in the extract; the Schedule specifies coins to be issued on 1 January 2022
- Key Content (from extract): Schedule describing 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 formally sets out 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 and the market what the coins are, what they are worth, and how they are designed.
Unlike primary legislation, this type of notification is typically narrow and technical. Its purpose is not to create broad policy or regulate conduct in the way a statute might. Instead, it ensures that the issuance of commemorative or special coins is properly authorised and described with legal clarity. This reduces uncertainty for collectors, retailers, financial institutions, and the public—particularly where coin design and denomination may affect how the coins are handled, exchanged, or recognised.
In the extract provided, the notification is expressly made “for general information” pursuant to section 17(5) of the Currency Act. That wording is important: the notification does not merely inform internally; it is published as a legal instrument so that the characteristics of the coins are publicly available and can be relied upon as authoritative.
What Are the Key Provisions?
1. Statutory basis and “general information” function. The notification states that it is made pursuant to section 17(5) of the Currency Act. The operative statement in the extract provides that it is “notified for general information” that the denominations and characteristics of coins to be issued on 1 January 2022 by MAS are “as shown in the Schedule.” This indicates that the Schedule is the substantive part: it is where the legal description of the coins resides.
2. The Schedule: description of the 2022 Chinese Almanac Coins. The extract shows that the Schedule contains the “Description of the 2022 Chinese Almanac Coins (Year of the Tiger) to be issued on 1 January 2022.” Although the detailed description is not included in the extract, the legal effect is clear: the coins’ denomination(s) and characteristics are defined by reference to the Schedule. For practitioners, this means that any question about what the coins are—such as their face value, design elements, inscriptions, or other physical attributes—should be answered by consulting the Schedule in the full document.
3. Link to MAS issuance on a specific date. The notification is tied to a specific issuance date: 1 January 2022. This temporal specificity matters in practice. Coin issuance often occurs around festive periods and may involve multiple coin series. By anchoring the notification to a particular date and coin series, the legal instrument helps distinguish these coins from other commemorative issues (including earlier or later Chinese Almanac coins, or other special coin programmes).
4. Legal certainty for denomination and characteristics. The phrase “denominations and characteristics” is the core legal concept. Denomination determines the monetary value (and therefore how the coin is treated in transactions). Characteristics typically cover physical and design features—such as size, metal composition, shape, and visual design. Even where the coins are commemorative, the legal framework ensures that they are not ambiguous: the public and market participants can identify the coins correctly and understand their official specifications.
How Is This Legislation Structured?
This notification is structured in a conventional subsidiary legislation format: it contains an enacting formula (or enacting statement), followed by a Schedule. The extract indicates that the substantive content is entirely in the Schedule.
Enacting formula / operative statement. The enacting statement explains the legal basis (section 17(5) of the Currency Act) and the purpose (“notified for general information”). It also links the coins to the issuance date and to MAS.
The Schedule. The Schedule is titled to reflect the coin series and year. Here, it is the “Description of the 2022 Chinese Almanac Coins (Year of the Tiger) to be issued on 1 January 2022.” In practice, the Schedule will typically list the coin(s) and provide the relevant denomination and characteristics for each coin in the series.
Versions and timeline. The document includes a timeline and versioning information. The extract shows a version date of 23 Dec 2021 (SL 963/2021) and indicates that the current version is as at 27 Mar 2026. For legal research, this means practitioners should confirm whether any later amendments or re-issues exist, although the extract suggests the instrument is a single notification tied to the 2022 coin issue.
Who Does This Legislation Apply To?
The notification is directed primarily at the issuance and description of coins by MAS. However, its practical effect extends to anyone who relies on the official specifications of the coins—most notably financial institutions, retailers, coin dealers, collectors, and members of the public who may purchase, exchange, or otherwise handle the coins.
While the notification does not appear (from the extract) to impose behavioural obligations on private parties, it functions as an authoritative reference point. In disputes—such as whether a particular coin is genuine, whether it matches the official denomination, or whether a coin corresponds to the specified issue—courts and regulators would likely treat the Schedule as the controlling description.
Why Is This Legislation Important?
Although the notification is narrow, it is important because it supports the integrity and predictability of Singapore’s currency system. Coin issuance—especially commemorative or themed series such as the Chinese Almanac coins—can involve multiple designs and denominations. Without a formal legal description, there would be greater risk of confusion, misrepresentation, or inconsistent handling by market participants.
From an enforcement and compliance perspective, the notification provides a clear legal anchor for MAS’s coin specifications. Even where the coins are intended for collectors, they remain part of the currency framework. The legal clarity on denomination and characteristics helps ensure that the coins are correctly recognised and treated in relevant contexts, including cash handling, vending, banking operations, and consumer transactions.
For practitioners, the key value is evidential and interpretive. If a question arises about what coins were officially issued on 1 January 2022 under the “Year of the Tiger” Chinese Almanac series, the notification and its Schedule are the primary sources. In legal research terms, this notification is a “specification instrument” that can be cited to establish the official characteristics of the coins.
Related Legislation
- Currency Act (Chapter 69) — in particular section 17(5) (the authorising provision for this notification)
- Currency (Denominations and Characteristics of Coins) Notifications — other numbered notifications issued under the same Currency Act power (e.g., other coin series and years)
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.