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The new decimal currency.
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2.—(1) On and after the 15th day of February, 1971, there shall be a denomination or unit of money in Irish currency which shall be known as the new penny and shall be one-hundredth part of an Irish pound.
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(3) On and after such day as the Minister may appoint by order under this subsection, the new penny shall be known as the penny and references in any statute or instrument made thereunder to the new penny shall, on and after the day appointed under this subsection, be construed accordingly.
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