Statute Details
- Title: Currency (Denominations and Characteristics of Coins) (No. 3) Notification 2016
- Act Code: CA1967-S677-2016
- Legislation Type: Subsidiary legislation / Notification (SL)
- Authorising Act: Currency Act (Chapter 69)
- Key Enabling Provision: Section 17(5) of the Currency Act
- Notification Reference: SL 677/2016
- Date of Notification: 27 December 2016
- Commencement (as indicated in the extract): Coins to be issued on 1 January 2017
- Status: Current version as at 27 March 2026 (per the platform display)
- 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. 3) Notification 2016 is a legislative notification made under the Currency Act (Chapter 69). In plain terms, it is the legal instrument that tells the public—and the market—what specific coin denominations and physical features (characteristics) will be issued by the Monetary Authority of Singapore (MAS) on a specified date.
Although it is styled as a “notification”, it has practical regulatory effect. Coinage is a core element of Singapore’s monetary system, and the law requires that the denominations and characteristics of coins be formally specified. This ensures consistency in what counts as legal tender coinage and supports the integrity of the currency system.
Based on the extract provided, the notification is issued “for general information” and states that the denominations and characteristics of the coins to be issued on 1 January 2017 by MAS are set out in the Schedule. The Schedule is therefore the operative part that lists the relevant coin specifications.
What Are the Key Provisions?
1. Legal basis and purpose (Pursuant to section 17(5) of the Currency Act)
The notification is expressly made pursuant to section 17(5) of the Currency Act. This enabling provision authorises MAS (through the legislative mechanism of a notification) to specify the denominations and characteristics of coins to be issued. The notification’s stated purpose is “for general information”, but that phrase should not be read as merely informational in a non-legal sense. In practice, it is the formal publication that gives legal certainty about what coins will be issued and what their defining features are.
2. The “Schedule” as the substantive specification
The extract indicates that “the denominations and characteristics of the coins to be issued on 1 January 2017 by the Monetary Authority of Singapore are as shown in the Schedule.” This means the Schedule is where the detailed coin specifications reside. For practitioners, the Schedule is the part that must be consulted to identify: (i) which denominations are involved; and (ii) what physical or design characteristics define each coin.
3. Effective date for the coin issue (1 January 2017)
The notification ties its content to a specific issuance date: coins to be issued on 1 January 2017. This is important for compliance and dispute avoidance. If a party is dealing with coin handling, vending systems, cash processing, or counterfeit detection, the relevant question is often whether a particular coin design is within the authorised set issued on that date. The notification provides the official reference point.
4. Publication and general availability
The notification is published as an SL (SL 677/2016). The platform extract also shows that the document is “current version as at 27 March 2026.” While the extract does not show amendments, the “current version” label indicates that the notification remains in force or remains the operative reference for the specified coin characteristics (or at least is still the latest consolidated version on the platform). For legal work, this matters when determining whether older coin specifications have been superseded by later notifications.
Note: The extract you provided does not include the actual Schedule content (e.g., the list of denominations and their characteristics). In a full legal review, a practitioner would need to obtain the Schedule to confirm the exact specifications and any design elements, inscriptions, or physical parameters that define each coin.
How Is This Legislation Structured?
From the extract, the notification is structured in a straightforward way:
(a) Heading and status information
The document includes administrative information such as its title, status (“current version”), and the timeline/versioning details.
(b) Enacting formula
The enacting formula identifies the legal basis: it is made pursuant to section 17(5) of the Currency Act.
(c) The Schedule
The Schedule is the substantive component. It is referenced as the place where the denominations and characteristics of the coins are “as shown.” In practice, the Schedule is where the legal description of each coin is located.
(d) Cross-references and citation
The extract includes a citation reference (e.g., “MAS 03/05/035; AG/LEGIS/SL/69/2015/1 Vol. 2”). These references are typically internal or administrative citations used during drafting and approval, and they can be useful when tracing legislative history or administrative records.
Who Does This Legislation Apply To?
The notification is directed at the public in the sense that it is issued “for general information”. However, its legal effect is most directly relevant to parties that must recognise, handle, or verify Singapore coins—particularly those operating in cash-intensive environments.
In practical terms, the notification affects:
- Financial institutions and cash handlers that process coin deposits and withdrawals;
- Retailers and merchants that accept coins as part of payment systems;
- Operators of vending machines and automated payment systems that require coin recognition specifications;
- Security and anti-counterfeiting stakeholders who need official coin characteristics for verification and training;
- Legal practitioners and regulators dealing with disputes involving coin validity, acceptance, or alleged counterfeiting.
Although the notification itself does not impose detailed obligations in the extract, the underlying Currency Act framework (including section 17(5) and related provisions) is what gives the notification regulatory force. The notification therefore functions as the official specification layer within the broader legal regime governing Singapore currency.
Why Is This Legislation Important?
Coinage specifications may appear technical, but they are legally significant. The integrity of a currency system depends on clear, authoritative definitions of what coins are authorised and what their defining characteristics are. This notification provides that authoritative definition for the coin set to be issued on 1 January 2017.
From an enforcement and compliance perspective, the notification helps reduce ambiguity. For example, if a dispute arises about whether a particular coin is genuine or whether it matches the authorised design for a given period, the Schedule’s official specifications become the benchmark. Similarly, automated systems (such as coin validators) rely on precise physical and design parameters; having an official legal reference supports operational correctness and reduces the risk of rejecting valid currency or accepting unauthorised items.
For practitioners, the key value of this notification is that it is a formal legal instrument tied to the Currency Act. It is not merely a public announcement. When advising clients—whether on cash processing, payment technology, regulatory compliance, or counterfeit-related matters—lawyers should treat the Schedule as the authoritative source for the coin characteristics in question.
Related Legislation
- Currency Act (Chapter 69) — in particular, section 17(5) (the enabling provision for coin denominations and characteristics notifications)
- Currency (Denominations and Characteristics of Coins) Notifications — including other “No.” notifications that may specify different coin sets or subsequent updates (e.g., “No. 1”, “No. 2”, and later notifications)
Source Documents
This article provides an overview of the Currency (Denominations and Characteristics of Coins) (No. 3) Notification 2016 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.