Statute Details
- Title: Denominations and Characteristics of Coin
- Act Code: CA1967-S279-2003
- Legislative Instrument Type: Subsidiary legislation (SL)
- Authorising Act: Currency Act (Chapter 69)
- Key Authorisation Provision: Section 17(5) of the Currency Act
- Instrument Number: No. S 279
- Publication/Date (as shown in extract): 09 Jun 2003
- Commencement (as shown in extract): Coin to be issued on 12 Jun 2003
- Status: Current version as at 27 Mar 2026
- Core Mechanism: Notification for general information of coin denominations and characteristics
- Primary Content Location: The Schedule
What Is This Legislation About?
The “Denominations and Characteristics of Coin” instrument is a Singapore subsidiary legislative notification that sets out, in a formal and legally authoritative way, the denominations and physical characteristics of coins to be issued by the Monetary Authority of Singapore (MAS). In practical terms, it tells the public and market participants what coins will exist (for example, the value of each coin) and how those coins are designed (for example, relevant physical features that distinguish one denomination from another).
Although the instrument is short in the extract provided, its legal function is significant: it is made pursuant to section 17(5) of the Currency Act. That authorising provision empowers MAS to issue currency and requires that, when coins are to be issued, the denomination and characteristics be notified in a prescribed manner. This ensures that coin specifications are not left to informal announcements and that there is a clear legal reference point for enforcement, acceptance, and dispute resolution.
In plain language, the legislation is essentially a specification notice—a scheduled list of what the coins are and what they look/are like—issued so that the currency system remains consistent, verifiable, and legally grounded.
What Are the Key Provisions?
1. Legal basis and notification purpose. The instrument states that it is “hereby notified for general information” that the denomination and characteristics of the coin to be issued on 12th June 2003 are “as shown in the Schedule.” This language is important: it indicates that the instrument is not merely administrative; it is a formal notification with legal effect under the Currency Act framework.
2. The Schedule as the controlling specification. The extract indicates that the operative details are contained in “THE SCHEDULE”. In coin-related instruments, the Schedule typically lists each coin denomination and describes its characteristics. For a practitioner, the Schedule is the critical part: it is where the legal “answer” to what coins are being issued is found. If a dispute arises—such as whether a particular coin is genuine, whether a coin matches the legally specified characteristics, or whether a coin should be accepted in a regulated context—the Schedule is the primary reference.
3. MAS issuance date linkage. The instrument ties the specifications to a specific issuance date: 12 June 2003. This matters because coin characteristics can change over time (for example, due to design updates, security features, or commemorative issues). By anchoring the specification to an issuance date, the instrument helps establish which characteristics apply to which coin series or issuance cycle.
4. Reference to official MAS and legal administration identifiers. The extract includes references such as [MAS 03/05/035; AG/LEG/SL/69/2002/1 Vol.1]. While these are primarily administrative identifiers, they can be useful in practice for locating related internal records, legislative drafting files, or cross-references within MAS and the Attorney-General’s Chambers’ legislative system.
How Is This Legislation Structured?
This instrument is structured in a way typical of Singapore subsidiary legislation notifications:
(a) Enacting formula / preamble: It states the legal basis and the purpose of the notification. Here, it expressly relies on section 17(5) of the Currency Act.
(b) The Schedule: The Schedule is the substantive part. It contains the denominations and characteristics of the coins to be issued. In practice, the Schedule is where practitioners will look for the exact specifications.
(c) Instrument metadata and status: The document includes publication information (e.g., “No. S 279” and the date), and it indicates that the “current version” is as at 27 Mar 2026. This is relevant because subsidiary legislation may be amended, consolidated, or updated over time, and the “current version” view ensures that lawyers rely on the latest legal text.
Who Does This Legislation Apply To?
The instrument is directed at the currency issuance framework established by the Currency Act, and it concerns coins issued by MAS. While the notification is “for general information,” its practical effect extends beyond MAS to any party that interacts with Singapore coinage—such as financial institutions, retailers, cash-handling businesses, vending operators, and any regulated entities that must accept or handle currency in accordance with legal requirements.
In addition, the instrument can be relevant to law enforcement and dispute resolution. If there is a question about whether a coin conforms to the legally specified characteristics, the Schedule provides the benchmark. Therefore, although the notification is publicly accessible, it is also a legal standard that can be invoked in regulatory and evidentiary contexts.
Why Is This Legislation Important?
First, coin denominations and characteristics are foundational to the integrity of a currency system. By requiring a formal notification under the Currency Act, Singapore ensures that coin specifications are legally ascertainable. This reduces ambiguity and supports consistent acceptance of currency across the economy.
Second, the instrument supports security and authenticity. While the extract does not list the specific characteristics, coin characteristics typically include design and physical features that help distinguish genuine coins from counterfeits. Having a legally defined specification makes it easier for authorities and businesses to verify authenticity and to respond to counterfeiting.
Third, the instrument has practical consequences for compliance and operations. Cash-handling systems—such as coin sorting machines, vending machines, ATMs, and retail cash management—often rely on specifications to identify and validate coin types. When MAS issues new coins or updates characteristics, the legal notification provides the authoritative reference that operators can use to update equipment and procedures.
Finally, for lawyers, the instrument illustrates how Singapore uses subsidiary legislation to operationalise broad statutory powers. The Currency Act provides the overarching authority; this notification supplies the concrete, scheduled details. This structure is important when advising on regulatory compliance, evidentiary issues, or the interpretation of currency-related obligations.
Related Legislation
- Currency Act (Chapter 69) — in particular, section 17(5) (authorising the notification of coin denominations and characteristics)
- Monetary Authority of Singapore (MAS) currency issuance framework under the Currency Act (general context)
Source Documents
This article provides an overview of the Denominations and Characteristics of Coin for legal research and educational purposes. It does not constitute legal advice. Readers should consult the official text for authoritative provisions.