Statute Details
- Title: Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2023
- Legislation Type: Subsidiary legislation (SL)
- Act Code: CA1967-S860-2023
- Authorising Act: Currency Act 1967
- Legal Basis: Made pursuant to section 17(5) of the Currency Act 1967
- Notification Number: SL 860/2023
- Date of Notification: 20 December 2023
- Status: Current version as at 27 March 2026
- Commencement (Practical Effect): Coins to be issued on 1 January 2024
- Core 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 2023 is a Singapore legal instrument that formally specifies the denominations and physical characteristics of certain coins to be issued by the Monetary Authority of Singapore (MAS). In plain terms, it tells the public—and provides legal certainty for the market—that particular coin types (for example, by value and design features) will exist and will be issued for use from a specified date.
This Notification is not a broad “currency law” in itself. Instead, it operates as a technical, schedule-based document under the Currency Act 1967. Its function is to translate MAS’s operational decisions about coin issuance into legally enforceable and publicly accessible terms. That matters because coinage is a matter of public confidence and monetary stability: the law must clearly identify what coins are being issued and what they look like.
Although the extract provided is brief, the legal effect is clear from the enacting formula: the Notification is “notified for general information” and sets out, in the Schedule, the denominations and characteristics of coins to be issued on 1 January 2024. For practitioners, the key takeaway is that this Notification is part of the regulatory framework that supports the issuance of Singapore coins and ensures that their specifications are traceable to an official legal instrument.
What Are the Key Provisions?
1. Legal authority and purpose (section 17(5) of the Currency Act 1967)
The Notification is made pursuant to section 17(5) of the Currency Act 1967. The enacting formula states that, “pursuant to section 17(5) … it is notified for general information” that the denominations and characteristics of the coins to be issued on 1 January 2024 by MAS are shown in the Schedule. This indicates that the Notification’s role is to provide an official public record of coin specifications.
2. The coins covered: issuance date and MAS responsibility
The Notification is tied to a specific issuance date: 1 January 2024. It is MAS that is responsible for issuing the coins, and the Notification confirms the legal specifications for those coins. In practice, this means that any question about whether a particular coin type is part of the official coinage for that period can be answered by reference to the Schedule in the Notification.
3. The Schedule as the operative content
The extract indicates that the “denominations and characteristics” are “as shown in the Schedule.” While the provided text does not reproduce the Schedule itself, the structure is typical of coin-specification notifications: the Schedule will list each coin denomination and describe its characteristics—commonly including design elements, dimensions, metal composition, weight, inscriptions, and other identifiable features.
4. “Notified for general information” and legal certainty
The Notification is described as “notified for general information.” This phrase is important. It signals that the Notification is intended to inform the public and stakeholders (including retailers, financial institutions, cash-handling businesses, and the public) of the official specifications. For lawyers, the practical implication is that the Notification is a primary reference point for determining the official identity of coinage. Even where the Notification is framed as information, it still carries legal significance because it is issued under statutory authority and is incorporated into the currency regulatory framework.
How Is This Legislation Structured?
Based on the extract, the Notification is structured in a straightforward way:
(a) Title and identification
It is identified as “Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2023” and carries the subsidiary legislation number SL 860/2023.
(b) Enacting formula
The enacting formula sets out the statutory basis (section 17(5) of the Currency Act 1967) and the purpose (general information) and points to the Schedule as the source of the coin specifications.
(c) The Schedule
The Schedule is the substantive part. It is where the denominations and characteristics of the coins to be issued on 1 January 2024 are set out. In a practitioner’s workflow, the Schedule is the document section that must be consulted to answer factual questions about coin specifications.
(d) Versioning and timeline
The legislation page indicates a timeline and that the “current version” is as at 27 March 2026, with the Notification dated 20 December 2023. This matters for compliance and evidentiary purposes: if coin specifications are amended later, practitioners should rely on the correct version as displayed in the official repository.
Who Does This Legislation Apply To?
This Notification is primarily directed at the issuance and specification of coins by MAS. However, its practical reach extends to anyone who handles, accepts, distributes, or relies on Singapore coinage. That includes cash-handling businesses (retailers, transport operators, vending services), financial institutions, and other parties that require certainty about what constitutes official coinage.
For the public, the Notification provides transparency: it confirms that coins with specified denominations and characteristics will be issued from 1 January 2024. For legal practitioners, the Notification is relevant in disputes or compliance matters involving counterfeit detection, acceptance of tender, or questions about whether a particular coin is genuine and part of the official series.
Why Is This Legislation Important?
Although the Notification is technical and schedule-based, it plays an important role in the integrity of Singapore’s currency system. Coinage must be consistent, recognisable, and legally defined. By specifying denominations and characteristics, the Notification supports public confidence and reduces ambiguity in cash transactions.
From an enforcement and compliance perspective, the Notification provides a reference standard. If a party needs to determine whether a coin matches the official specifications—whether for internal controls, fraud investigations, or evidentiary purposes—the Schedule is the authoritative source. Even where the Notification is framed as “general information,” it is still grounded in statutory authority and therefore functions as a legal benchmark.
Finally, the Notification’s linkage to a specific issuance date (1 January 2024) is significant. Currency systems often evolve through multiple notifications (for example, “No. 1”, “No. 2”, etc.). Practitioners should therefore treat these notifications as part of a series and ensure they consult the correct instrument for the relevant period. The “current version as at 27 March 2026” indicator underscores the need to verify whether any amendments or updates exist that could affect the specifications.
Related Legislation
- Currency Act 1967 (authorising legislation; specifically section 17(5))
- Currency (Denominations and Characteristics of Coins) (No. 1) Notification (if applicable as part of the same coin-issuance series)
- Monetary Authority of Singapore (MAS) coin issuance framework (administrative and regulatory context arising from the Currency Act 1967)
Source Documents
This article provides an overview of the Currency (Denominations and Characteristics of Coins) (No. 2) Notification 2023 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.