Statute Details
- Title: Currency (Denominations and Characteristics of Coins) (No. 3) Notification 2014
- Act Code: CA1967-S870-2014
- Type: Subsidiary Legislation (Notification)
- Authorising Act: Currency Act (Chapter 69)
- Legal Basis: Made pursuant to section 17(5) of the Currency Act
- Commencement / Effective Date (as stated in the extract): Coins to be issued on 8 January 2015
- Publication / Notification Date (as shown in the extract): 30 December 2014
- Legislation Number: SL 870/2014 (No. S 870)
- Status: Current version as at 27 March 2026 (per the platform display)
- Key Provision (from extract): Notification for general information of coin denominations and characteristics to be issued on 8 January 2015
- Schedule: “THE SCHEDULE” (contains the denominations and characteristics; not reproduced in the extract)
What Is This Legislation About?
The Currency (Denominations and Characteristics of Coins) (No. 3) Notification 2014 is a Singapore subsidiary 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 is the legal “specification sheet” that tells the public—and the market—what coins are coming into circulation and what they look like.
Although the extract provided does not reproduce the detailed contents of the Schedule, the operative effect is clear from the enacting formula and the notification statement: MAS is authorised to issue coins, and this Notification is issued to set out the relevant coin specifications for a particular issuance date. The Notification is made “for general information,” which is typical for currency specifications: it is intended to be publicly accessible and to reduce uncertainty for businesses, cash handlers, and the public.
Practically, this type of notification supports the integrity and uniformity of Singapore’s coinage. It helps ensure that coins issued on the specified date conform to defined denominations and characteristics, which is important for cash acceptance, counterfeit prevention, and operational consistency across retailers, vending machines, banks, and other cash-processing systems.
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 (Chapter 69). The extract states that “it is hereby notified for general information” that the denominations and characteristics of the coins to be issued on a specified date are as shown in the Schedule. This indicates that the Currency Act provides the overarching framework for coin issuance, while the Notification provides the specific details for a particular set of coins.
2. Identification of the coins and the issuance date. The Notification is tied to a specific issuance event: coins to be issued on 8 January 2015. This is a crucial feature for practitioners and compliance teams. Currency specifications can change over time (for example, through new coin designs, revised physical parameters, or updated security features). By anchoring the specification to a particular issuance date, the Notification clarifies which coins are covered.
3. Denominations and characteristics “as shown in the Schedule.” The extract makes clear that the substantive content is contained in the Schedule. In legal and operational terms, the Schedule is where the enforceable specifications reside. The “denominations” typically refer to the face value(s) of the coins (e.g., 1-cent, 5-cent, etc.), while “characteristics” generally refer to physical and design attributes—such as dimensions, weight, composition, shape, edge features, and possibly visual/security elements.
4. Public notice function. The Notification is described as being “for general information.” While this phrase does not necessarily mean the instrument is non-binding, it signals the Notification’s role as a public-facing statement of official coin specifications. For businesses and cash-handling entities, this provides a reliable reference point for training, equipment configuration, and acceptance policies. For example, vending machine operators and cash recyclers may need to update their coin recognition systems to accept the newly issued coins correctly.
How Is This Legislation Structured?
Based on the extract and typical Singapore legislative drafting, the Notification is structured as follows:
(a) Title and formal identification. The instrument is identified as “Currency (Denominations and Characteristics of Coins) (No. 3) Notification 2014,” indicating that it is the third such notification in a series (or third “No.”) relating to coin specifications.
(b) Enacting formula. The enacting formula states the legal basis under the Currency Act and the purpose of the notification.
(c) The operative statement. The extract includes the key sentence: the denominations and characteristics of coins to be issued on 8 January 2015 are “as shown in the Schedule.”
(d) “THE SCHEDULE.” The Schedule is the core substantive part. It contains the detailed specifications for the coins. Although the extract does not show the Schedule contents, practitioners should treat the Schedule as the authoritative source for the coin parameters.
Who Does This Legislation Apply To?
This Notification is directed primarily at the Monetary Authority of Singapore in the sense that it specifies what MAS will issue on the stated date. However, its practical reach extends to a wider set of stakeholders because coin specifications affect how money is recognised and handled in the economy.
In practice, the Notification is relevant to: (i) financial institutions and cash management providers; (ii) retailers and service providers that handle cash; (iii) operators of vending machines, ticketing systems, and coin-operated devices; and (iv) businesses involved in cash processing (including coin sorting and recycling). These parties may need to align their operational procedures with the official coin characteristics to ensure correct acceptance and to avoid disputes about whether a coin is genuine or properly recognised.
Why Is This Legislation Important?
Although the Notification is short in the extract, it plays an important role in maintaining the reliability of Singapore’s coinage system. Coin denominations and characteristics are foundational to the functioning of cash-based commerce. If coins were to vary without clear specification, it would create uncertainty for the public and operational difficulties for businesses and automated systems.
From a legal and compliance perspective, this Notification provides an authoritative reference point for the official specifications of coins issued on 8 January 2015. This can matter in several contexts: disputes about whether a particular coin conforms to the official design; regulatory or contractual requirements that require acceptance of “lawful currency” in accordance with official specifications; and technical compliance for devices that must recognise and validate coins accurately.
Enforcement is typically indirect. The Currency Act provides the broader legal framework for currency issuance and related offences (for example, around counterfeiting or unlawful dealing). This Notification, by contrast, supplies the factual and technical baseline—what the coins are supposed to be—so that enforcement and compliance can be grounded in verifiable standards.
Related Legislation
- Currency Act (Chapter 69) — the authorising Act, including section 17(5) (as referenced in the extract)
- Currency (Denominations and Characteristics of Coins) Notifications (including this “No. 3” notification) — other notifications in the same series may specify different coin sets or issuance dates
- Legislation Timeline / MAS-related currency instruments — useful for identifying the correct version applicable to a particular issuance date (as indicated by the platform’s “Timeline” feature)
Source Documents
This article provides an overview of the Currency (Denominations and Characteristics of Coins) (No. 3) Notification 2014 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.