Statute Details
- Title: Denomination and Characteristics of the Currency Note
- Act Code: CA1967-S303-2007
- Legislative Instrument Type: Subsidiary Legislation (SL)
- Enacting / Authorising Provision: Made pursuant to section 17(5) of the Currency Act
- Instrument Number: S 303
- Chapter: Currency Act, Chapter 69
- Commencement / Effective Date (as notified): 27 June 2007
- Current Version Status: Current version as at 27 March 2026 (per the legislation portal)
- Parts: Not stated in the extract (instrument refers to a Schedule)
- Key Operational Feature: Notifies the denominations and characteristics of currency notes to be issued by the Monetary Authority of Singapore (MAS)
What Is This Legislation About?
The “Denomination and Characteristics of the Currency Note” instrument is a Singapore subsidiary legislative notification issued under the Currency Act (Chapter 69). In plain terms, it tells the public—and legal and regulatory systems—that when the Monetary Authority of Singapore (MAS) issues currency notes on a specified date, those notes will have particular denominations (e.g., the face values) and physical and design characteristics (e.g., features that distinguish one note from another and confirm authenticity).
Although the extract provided is brief, the legal function is clear: it is a general information notification that is legally anchored to the Currency Act. The instrument does not “create” currency in the abstract; rather, it specifies the exact form of the currency notes that MAS is authorised to issue under the Currency Act framework. This matters because currency must be consistent, recognisable, and enforceable as legal tender in practice.
Practitioners should view this instrument as part of the broader currency governance architecture. The Currency Act provides the statutory powers and legal tender framework, while this subsidiary instrument provides the technical, operational details for a particular issue date—here, 27 June 2007—by referring to a Schedule containing the denominations and characteristics.
What Are the Key Provisions?
1. Statutory basis and purpose (notification under section 17(5) of the Currency Act)
The instrument expressly states that it is made “pursuant to section 17(5) of the Currency Act.” This is the critical legal hook. Section 17(5) (as referenced) empowers MAS to have the denomination and characteristics of currency notes notified. The instrument therefore functions as the formal legal publication mechanism that translates MAS’s determinations into a publicly accessible and legally recognised specification.
2. General information to the public
The instrument states that it is “hereby notified for general information.” This language is typical of subsidiary notifications that are intended to inform the public, financial institutions, and enforcement bodies of the official specifications. In practice, this supports certainty for cash handling, vending and ticketing systems, banking operations, and any regulatory or compliance processes that depend on knowing what notes are in circulation.
3. The date of issue and the scope of the notification
The instrument specifies that it relates to “the denomination and characteristics of the currency note to be issued on 27th June 2007.” This is important because currency note designs and security features can change over time. By tying the notification to a particular issue date, the instrument helps distinguish between different series or batches of notes, which can be relevant for authentication, withdrawal, replacement, and record-keeping.
4. Reliance on a Schedule for the technical specifications
The extract indicates that the denominations and characteristics “are as shown in the Schedule.” While the Schedule content is not included in the extract you provided, the legal structure is still clear: the operative statement is that the Schedule contains the authoritative list/specification. For practitioners, the Schedule is therefore the substantive part that must be consulted to identify the exact denominations and the precise characteristics (which may include design elements, security features, dimensions, colour schemes, and other identifying attributes).
Practical legal takeaway: The instrument’s legal effect is to make the Schedule’s content the official reference point for the notes issued on the stated date. Any dispute about what notes were authorised for that issue, or what features they should have, will likely turn on the Schedule.
How Is This Legislation Structured?
Based on the extract and typical Singapore subsidiary legislation format, the instrument is structured as follows:
(a) Title and heading: “Denomination and Characteristics of the Currency Note.”
(b) Status and versioning information: The portal indicates the instrument is “Current version as at 27 Mar 2026,” with a timeline showing the original publication date.
(c) Enacting formula / authorising statement: It states that the notification is made pursuant to section 17(5) of the Currency Act.
(d) Operative notification paragraph: It declares that MAS will issue currency notes on 27 June 2007 and that their denomination and characteristics are shown in the Schedule.
(e) Schedule: The Schedule is the substantive repository of the denominations and characteristics. In practice, the Schedule is where the legal “answer” is found.
Although the extract does not show “Parts” or “Key Sections,” the instrument is effectively a short notification with a Schedule. The legal practitioner’s workflow should therefore be: open the instrument, locate the Schedule, and extract the denomination list and the specified characteristics for the relevant issue date.
Who Does This Legislation Apply To?
This instrument applies primarily to the Monetary Authority of Singapore (MAS) in the sense that it operationalises MAS’s issuance of currency notes on the specified date. However, the notification is also directed at the broader public and regulated ecosystem because it is issued “for general information.”
In practical terms, it affects:
(i) Financial institutions and cash handlers: Banks, payment processors, and cash-in/cash-out operators need to know what notes are in circulation and what they look like for processing and compliance.
(ii) Businesses that accept cash: Retailers, transport operators, and vending/ticketing systems rely on consistent note recognition standards.
(iii) Enforcement and dispute resolution contexts: Where authenticity, identification, or classification of currency notes is relevant, the official denomination and characteristics become the reference point.
(iv) Systems and standards bodies: Any technical standards for note validation and authentication will typically align with the official specifications.
Why Is This Legislation Important?
At first glance, a short notification may seem minor compared with comprehensive statutes. However, currency is a high-stakes area where precision matters. The importance of this instrument lies in its role as the authoritative legal specification for the form of currency notes issued on a particular date.
First, it supports certainty and uniformity. If different stakeholders used different descriptions of what the notes should be, cash processing would become error-prone and costly. By publishing the denominations and characteristics, the instrument helps ensure that MAS’s issued notes are correctly recognised and handled across the economy.
Second, it supports authenticity and security. “Characteristics” in currency contexts typically include security features and design elements that distinguish genuine notes from counterfeits. While the extract does not list those features, the Schedule is likely to do so. For practitioners dealing with matters such as suspected counterfeiting, classification disputes, or evidence relating to currency identification, the official specification is crucial.
Third, it provides an audit trail and legal reference point. Currency note designs can evolve. By anchoring the notification to 27 June 2007, the instrument helps distinguish between different note series. This can matter in investigations, regulatory compliance, and litigation where the relevant period and note characteristics must be established.
Finally, because the instrument is made under the Currency Act, it demonstrates how Singapore’s currency regime uses a layered approach: the Currency Act provides the legal authority and framework, while subsidiary notifications provide the technical and time-specific details. This structure is efficient and responsive, allowing MAS to update note specifications without amending the primary Act each time.
Related Legislation
- Currency Act (Chapter 69) — including section 17(5) (authorising the notification of denomination and characteristics of currency notes)
- Currency Act — Timeline / related instruments (as referenced in the portal navigation)
Source Documents
This article provides an overview of the Denomination and Characteristics of the Currency Note for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.