Decimal Currency Act, 1970
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Legal tender. |
15.—(1) A tender of money if made, on or after decimal day, in coins of the denominations of sixpence, threepence or a penny, being coins issued under the Act of 1950 or the repealed enactments, shall be legal tender for the payment of an amount not exceeding, in the old currency, four shillings or, in the new currency, twenty new pence but for no greater amount. | |
(2) A tender of money if made, on or after decimal day, in coins (other than bronze coins) which are issued under the Act of 1969 and each of which has a denomination of more than ten new pence shall be legal tender for the payment of an amount in the old currency not exceeding ten pounds but for no greater amount. | ||
(3) A tender of money if made, on or after decimal day, in coins (other than bronze coins) which are issued under the Act of 1969 and each of which has a denomination of not more than ten new pence shall be legal tender for the payment of an amount in the old currency not exceeding five pounds but for no greater amount. | ||
(4) A tender of money if made, on or after decimal day, in bronze coins issued under the Act of 1969 shall be legal tender for the payment of an amount in the old currency not exceeding four shillings but for no greater amount. | ||
(5) A tender of money if made, on or after decimal day, partly in coins of the denominations of sixpence, threepence or a penny, being coins issued under the Act of 1950 or the repealed enactments, and partly in bronze coins issued under the Act of 1969 shall be legal tender for the payment of an amount not exceeding, in the old currency, four shillings or, in the new currency, twenty new pence but for no greater amount. | ||
(6) For the purposes of the foregoing subsections of this section— | ||
(a) a coin of the old currency may be treated as being a current coin of the new currency calculated on the basis specified in section 9 (1) of this Act, and | ||
(b) a coin of the new currency may be treated as being a current coin of the old currency calculated on that basis. | ||
(7) On and after decimal day, silver coins of the denomination of ten shillings issued under the Coinage Acts, 1950 and 1966, shall be deemed to be coins of the denomination of fifty new pence issued under the Act of 1969. | ||
(8) Subsections (1), (2), (3), (4), (5) and (7) of this section shall not apply to coins called in under the Act of 1969. | ||
(9) Subsections (2), (3) and (4) of this section shall have effect notwithstanding section 8 of the Act of 1969. |