Coining of gold from bullion on request.
5.—(1) Whenever any person after the commencement of this section delivers not less at any one time than one hundred ounces of gold bullion at a place for the time being appointed in that behalf by the Minister under this section, the Minister shall cause such bullion to be assayed and coined into coins authorised by this Act to be issued thereunder and shall issue such coins to such person.
(2) Whenever the gold bullion delivered for coinage under this section is of the standard fineness the number of coins to be issued under this section in exchange for such bullion shall be calculated at the rate of one Saorstát pound for every 123.27447 grains of such bullion or one ten-shilling coin for every 61.63723 grains of such bullion and whenever such bullion is of a fineness superior or inferior to the standard fineness the said number of coins shall be calculated at such higher or lower (as the case may be) rate as is proportionate to such superiority or inferiority of fineness.
(3) The Minister may refuse to accept for coining under this section any gold bullion which is of such fineness that in the opinion of the Minister it cannot be brought to the standard fineness without refining some portion of it, and if he so accepts any such bullion he may impose such charge as he thinks proper for refining it.
(4) It shall be lawful for the Minister to impose such charge for the coinage of gold bullion under this section as he thinks proper not exceeding three half-pence for every ounce of such bullion of the standard fineness and so in proportion for bullion of a superior or an inferior fineness.
(5) No undue preference shall be shown to any person under this section and every person delivering in accordance with this section gold bullion for coining shall have the bullion so delivered by him coined in such priority as corresponds to the time of such delivery.
(6) The Minister may by order appoint such places as he thinks fit for the delivery under this section of gold bullion for coining and in the event of his so appointing an office of the Commission as a place for such delivery he may by the same or any subsequent order with the consent of the Commission authorise and require the Commission to exercise and perform in respect of all gold bullion delivered at such office such of the powers and duties conferred on the Minister by the foregoing provisions of this section as he thinks proper.
Every order made by the Minister under this sub-section shall be published in the Iris Oifigiúil as soon as may be after it is made.
(7) This section shall come into operation on such day as shall be appointed in that behalf by the Minister with the concurrence of the Commission by notice published in the Iris Oifigiúil.
(8) The notice under the foregoing sub-section appointing the day for the coming into operation of this section, shall, if the Commission so requires, declare that no person other than the Commission shall be entitled to deliver gold bullion for coining under this section, and if such notice so declares then no person other than the Commission shall be entitled to deliver gold bullion for coining under this section until such time as the Commission shall by notice published in the Iris Oifigiúil declare that every person shall be so entitled.