Statute Details
- Title: Denomination and Characteristics of Currency Note
- Act Code: CA1967-S252-2004
- Legislation Type: Subsidiary legislation (SL)
- Authorising Act: Currency Act (Chapter 69)
- Legal Basis: Made “pursuant to section 17(5) of the Currency Act”
- Commencement / Notification Date: 4 May 2004
- Instrument Number: No. S 252
- Publication Reference: SL 252/2004
- Status: Current version as at 27 Mar 2026 (per the legislation portal)
- Key Provision (from extract): Notification for general information that the denomination and characteristics of currency notes to be issued on 4 May 2004 are as shown in the Schedule
What Is This Legislation About?
This subsidiary legislation is a formal notification issued under Singapore’s Currency Act to specify the denomination and physical/technical characteristics of currency notes that the Monetary Authority of Singapore (MAS) is to issue on a particular date. In plain terms, it tells the public and relevant stakeholders what banknote denominations will be issued and what the notes will look like (their defining characteristics), as set out in the attached Schedule.
The extract you provided shows the core mechanism: MAS issues currency notes, and the law requires that the denomination and characteristics of those notes be notified. This instrument does not create a broad regulatory regime by itself; rather, it performs a specific, date-linked specification—a “what will be issued” notice—under the enabling power in the Currency Act.
Practically, such notifications are important for legal certainty and operational readiness. They support consistent treatment by cash handlers, financial institutions, cash-in-transit providers, retailers, vending operators, and other parties that need to know what denominations exist and what features identify them. They also help ensure that the legal framework for currency issuance is transparent and publicly accessible.
What Are the Key Provisions?
1. Notification pursuant to section 17(5) of the Currency Act
The instrument states that it is issued “pursuant to section 17(5) of the Currency Act” and is “hereby notified for general information.” This language is significant: it indicates the instrument’s function is to publicly communicate the denomination and characteristics of the notes to be issued. The legal effect is tied to the enabling provision in the Currency Act, which authorises MAS to determine and issue currency notes and requires formal notification of their denomination and characteristics.
2. Date-specific issuance: “to be issued on 4th May 2004”
The notice is anchored to a specific issuance date: 4 May 2004. This means the Schedule (not reproduced in your extract) would list the denominations and characteristics applicable to the notes issued on that date. For practitioners, this date linkage matters when advising on disputes involving cash handling, authenticity, or transitional periods between note series or designs.
3. The Schedule as the operative content
The extract repeatedly refers to “as shown in the Schedule.” In many Singapore subsidiary instruments, the Schedule is where the detailed specifications live—e.g., which denominations are included and the defining characteristics (such as design elements, security features, or other identifying attributes). The legal “work” of the instrument is therefore not in the short enacting text but in the Schedule.
4. Administrative and evidentiary value
Even where the instrument is brief, it has evidentiary and compliance value. It provides an official record that MAS issued currency notes with specified denominations and characteristics on the stated date. In legal proceedings (for example, disputes about whether a particular note is part of an issued series), the existence of an official notification can be relevant to establishing what was authorised and publicly notified at the time.
How Is This Legislation Structured?
Based on the extract, the structure is straightforward and typical of a notification-style subsidiary instrument:
(a) Enacting formula
The enacting formula identifies the legal authority and the purpose of the instrument. Here, it confirms that the notification is made under section 17(5) of the Currency Act.
(b) The Schedule
The Schedule contains the substantive details: the denomination and characteristics of the currency notes to be issued on 4 May 2004. The Schedule is the key part for anyone needing to identify the relevant banknote series or features.
(c) Publication and versioning information
The portal metadata indicates that the instrument is “current version as at 27 Mar 2026” and references the original publication date (4 May 2004) and instrument number (SL 252/2004). This is relevant for practitioners who need to confirm they are consulting the correct version for the relevant time period.
Who Does This Legislation Apply To?
Although the instrument is directed at the public in the sense that it is “notified for general information,” its practical legal impact is felt by parties involved in currency circulation and handling. The immediate legal beneficiary is MAS, which is empowered to issue currency notes with specified denominations and characteristics. The broader regulated community includes anyone who must recognise, accept, or process Singapore currency notes.
In practice, this includes financial institutions, merchants, cash logistics providers, and any entity whose operations depend on accurate identification of banknotes. While the instrument itself may not impose detailed compliance duties on private parties (because it is a notification rather than a comprehensive regulatory code), it forms part of the legal backdrop for determining what constitutes an authorised currency note series and what characteristics are officially associated with notes issued on the specified date.
Why Is This Legislation Important?
1. Legal certainty about what MAS is authorised to issue
Currency issuance is a matter of public trust and national monetary integrity. By requiring a formal notification of denomination and characteristics, the law ensures that there is an official, accessible record of the currency notes in circulation (or to be issued) at a given time. This reduces ambiguity and supports consistent recognition of authorised notes.
2. Practical impact on cash handling and fraud prevention
Banknote characteristics—often including design and security features—are central to preventing counterfeiting and to enabling verification. Even if the instrument is short, the Schedule’s content supports operational controls. For example, cash processing systems and training materials typically need to align with the officially notified characteristics of notes in circulation.
3. Relevance in disputes and regulatory investigations
In legal disputes involving cash authenticity, acceptance, or alleged misidentification, the existence of an official notification can be relevant. It can help establish what denominations and characteristics were officially associated with the notes issued on the relevant date. For regulators and investigators, it also provides a documentary trail linking MAS issuance decisions to publicly notified specifications.
Related Legislation
- Currency Act (Chapter 69) — the enabling statute, including section 17(5) (as referenced in the instrument)
- Timeline / Legislation amendments — relevant for confirming the correct version as at the date in question (as indicated by the portal’s “Timeline” feature)
Source Documents
This article provides an overview of the Denomination and Characteristics of Currency Note for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.