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S.I. No. 442/1997 - New Coinage Fund Commemorative One Pound) Order, 1997

S.I. No. 442 of 1997.

NEW COINAGE FUND COMMEMORATIVE ONE POUND) ORDER, 1997

WHEREAS I, Charlie McCreevy, Minister for Finance, have decided to provide alloy coins containing silver, to commemorate the United Nations Organisation, of a denomination of £1 pursuant to section 4 (as amended by section 126 of the Central Bank Act, 1989 (No. 16 of 1989), and section 85 of the Central Bank Act, 1997 (No. 8 of 1997)) of the Decimal Currency Act, 1969 (No. 23 of 1969):

AND WHEREAS a draft of this Order was laid before each House of the Oireachtas pursuant to paragraph (d) (inserted by the Central Bank Act, 1989 ) of subsection (2) of section 4 of the Decimal Currency Act, 1969 , and the other provisions of that paragraph have been complied with:

NOW I, Charlie McCreevy, Minister for Finance, in exercise of the powers conferred on me by section 4 (as so amended) of the Decimal Currency Act, 1969 , hereby order as follows:

1. This Order may be cited as the New Coinage (UN50 Commemorative One Pound) Order, 1997.

2. In this Order "new coins" means the alloy coins containing silver, to commemorate the United Nations Organisation, of a denomination of £1 that it has been decided to provide pursuant to section 4 (as amended by section 126 of the Central Bank Act, 1989 (No. 16 of 1989), and section 85 of the Central Bank Act, 1997 (No. 8 of 1997)) of the Decimal Currency Act, 1969 (No. 23 of 1969), and to which Articles 3 to 6 of this Order relate.

3. It is hereby declared that it is expedient to provide new coins in an alloy containing 92.5 per cent silver and 7.5 per cent copper.

4. The standard weight of each new coin shall be 28.28 grams.

5. The weight remedy, that is to say the maximum variation from the standard weight applicable to the average weight of a coin in a sample of not more than one kilogram, shall be 0.42 grams.

6. The composition remedy, that is to say the maximum variation from the standard composition of each coin, shall not exceed 0.3 per cent silver and 0.3 percent copper.

GIVEN under my Official Seal, this 23rd day of October, 1997.

Minister for Finance