Decimal Currency Act, 1970

Conversion of references to shillings and pence in cheques, etc.

4.—(1) On and after decimal day any reference to an amount of money in the old currency contained in an instrument to which this section applies shall, in so far as it refers to a sum in shillings or pence, be read as referring to the corresponding sum in the new currency calculated in accordance with the Schedule to this Act.

(2) If a reference to an amount of money in the old currency contained in an instrument to which this section applies is altered so as to make it read as it would otherwise fall to be read in accordance with subsection (1) of this section, the alteration shall not affect the validity of the instrument and, in the case of a bill of exchange or promissory note, shall not be treated as a material alteration for the purposes of section 64 of the Bills of Exchange Act, 1882 .

(3) This section applies to instruments of any of the following descriptions drawn, made or issued before decimal day:

(a) cheques and other instruments to which section 4 of the Cheques Act, 1959 , applies,

(b) bills of exchange other than cheques,

(c) promissory notes,

(d) money orders and postal orders (including postal orders to which stamps have been affixed to increase their face value),

(e) any warrant issued under the authority of the Minister for Posts and Telegraphs for the payment of a sum of money,

(f) any document issued under the authority of the Minister for Social Welfare which is intended to enable a person to obtain payment of the sum mentioned in the document but is not a bill of exchange,

(g) any document not mentioned in the foregoing paragraphs which is intended to enable a person to obtain through a banker payment of any sum mentioned in the document.