Statute Details
- Title: Currency (Denominations and Characteristics of Coins) (No. 4) Notification 2014
- Act Code: CA1967-S871-2014
- Type: Subsidiary legislation (Notification)
- Authorising Act: Currency Act (Chapter 69)
- Enacting Provision: Made pursuant to section 17(5) of the Currency Act
- Document Number: S 871
- Publication / Date: 30 December 2014
- Status: Current version as at 27 March 2026
- Commencement (as stated in extract): Coins to be issued on 8 January 2015
- Key Content (from extract): Denominations and characteristics of coins to be issued are set out in the Schedule
What Is This Legislation About?
The Currency (Denominations and Characteristics of Coins) (No. 4) Notification 2014 is a Singapore legal instrument that authorises and publicly specifies the denominations and physical characteristics of certain coins to be issued by the Monetary Authority of Singapore (MAS). In practical terms, it tells the public—and the market—exactly what new coin(s) will look like and what monetary value they represent.
Although the extract provided is brief, the legal function is clear from the enacting formula: the Notification is made “for general information” under the Currency Act. It does not itself create a new currency system from scratch; rather, it operationalises the Currency Act’s framework by setting out the specific coin specifications for a particular issuance date.
For lawyers and compliance professionals, the significance lies in the legal certainty it provides. Coin specifications affect not only everyday transactions, but also downstream areas such as vending and coin-operated machines, cash-handling procedures, accounting and audit trails, and legal tender practices. By publishing the denominations and characteristics in a Schedule, the Notification reduces ambiguity and supports consistent recognition of the coins in circulation.
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. The extract states that it is “hereby notified for general information” that the denominations and characteristics of the coins to be issued on 8 January 2015 by MAS are “as shown in the Schedule.” This language indicates that the Notification’s role is declaratory and specification-based: it publicly records the coin details that MAS will issue.
2. Identification of the issuance date
A critical feature for practitioners is the linkage between the Notification and the issuance date. The Notification specifies that the coins to be issued on 8 January 2015 are those described in the Schedule. This matters for determining which coin specifications apply at a given time, particularly where there may be multiple “(No. X)” Notifications covering different coin series or updates.
3. Denominations and characteristics “as shown in the Schedule”
The extract refers to “the Schedule” as the authoritative source for the actual coin details. While the Schedule content is not reproduced in the extract you provided, the legal drafting approach is standard: the Schedule typically lists each coin denomination and describes its physical attributes (for example, size, composition, design elements, inscriptions, and other distinguishing features). From a legal perspective, the Schedule is the operative part for identifying what the coins are.
4. MAS as the issuing authority
The Notification expressly identifies the Monetary Authority of Singapore as the body that will issue the coins. This is important where questions arise about whether a particular coin is an official MAS issue. The Notification provides a public reference point that can be relied upon in disputes, compliance checks, and regulatory audits.
How Is This Legislation Structured?
Based on the extract and typical structure of Singapore Notifications, the instrument is structured around a short enacting formula and a Schedule containing the substantive specifications. The Notification itself is concise: it states the legal basis (section 17(5) of the Currency Act), the purpose (general information), the issuance date (8 January 2015), and points readers to the Schedule for the actual coin details.
In other words, the Notification functions like a “specification notice.” The Schedule is the key component for practitioners because it is where the denominations and characteristics are set out. When advising clients—such as cash logistics providers, retailers, or operators of coin-accepting devices—lawyers should focus on the Schedule to confirm the exact coin attributes relevant to the client’s operational environment.
Who Does This Legislation Apply To?
This Notification is directed at the public in the sense that it is “notified for general information.” However, its practical effect is felt by anyone who must recognise, handle, accept, or verify Singapore coins issued on or after the relevant date. That includes businesses that accept cash payments, cash-in-transit and cash processing companies, and manufacturers or operators of coin-operated systems.
While the Notification does not typically impose direct compliance obligations in the way a regulatory code might, it provides the authoritative reference for what coins are officially issued by MAS and what they should look like. In disputes—such as whether a coin is genuine, whether a coin should be accepted by a machine, or whether a particular denomination was in circulation—this Notification and its Schedule can be used as evidence of the official specifications.
Why Is This Legislation Important?
1. Legal certainty for coin identification and recognition
Currency systems depend on consistent recognition of denominations and physical characteristics. By publishing the denominations and characteristics for a specific coin issuance date, the Notification supports legal certainty. This is particularly important where coin designs change over time or where multiple coin series exist.
2. Practical impact on cash handling, retail acceptance, and technology
Businesses increasingly rely on automated systems—such as vending machines, ticketing kiosks, parking meters, and payment kiosks—that must be calibrated to recognise specific coin characteristics. Even if the Notification does not regulate machine manufacturers directly, it provides the technical reference that such systems must be aligned with. Lawyers advising technology vendors or operators should treat the Schedule as a compliance benchmark for coin recognition and acceptance testing.
3. Evidence in disputes and regulatory scrutiny
In the event of a dispute involving counterfeit coins, misidentification, or incorrect machine rejection/acceptance, the Notification can serve as a primary reference document. It is a published legal instrument tied to MAS issuance and a specific date. For audit and compliance purposes, referencing the Notification helps demonstrate that a business’s coin-handling procedures were based on official specifications.
Related Legislation
- Currency Act (Chapter 69) — in particular, section 17(5) (the authorising provision for this Notification)
- Currency (Denominations and Characteristics of Coins) Notifications — including other “(No. X)” Notifications that specify different coin series or updates (e.g., “No. 1”, “No. 2”, “No. 3”, etc., depending on the MAS issuance programme)
Source Documents
This article provides an overview of the Currency (Denominations and Characteristics of Coins) (No. 4) Notification 2014 for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.