act 017 of 1855 : Copper Currency Straits Settlements Act, 1855 [Repealed]

Copper Currency Straits Settlements Act, 1855 [Repealed]

ACTNO. 17 OF 1855

05 May, 1857

Not in force in India

Passed by the Legislative Council of India.

(Received the assent of the Governor General on the 29^th May 1855.)

An Act to improve the law relating to the Copper Currency in the Straits.

Whereas the Company's Rupee is by Act XVII. of 1835 a legal tender in satisfaction of all engagements in the Settlement of Prince of Wales' Island, Singapore, and Malacca, but no copper coin, except the half pice issued under Act XI. of 1854, is now by law legal tender for fractions of a Rupee in that Settlement; and it is expedient to remedy this defect in the law; and whereas besides the Rupee the Dollar is by custom current in the said Settlement; and it is therefore expedient to provide that the copper currency which will be legal tender in the said Settlement for fractions of a Rupee shall also be legal tender in the said Settlement for fractions of a Dollar; It is enacted as follows:

Section 1. Acts repealed

Sections I. II and V. of Act VI. of 1847 are hereby repealed, in so far as they relate to copper pice, double pice, and pies coined in accordance with Act XXII. of 1844, or Act XXI. of 1835: but in so far as they relate to all other copper coins, the said Sections shall remain in full force And the provisions of Sections I. II and IV. of Act XXII. of 1844, so far as they are now in force, are hereby extended to the Settlement of Prince of Wales' Island, Singapore, and Malacca, where they shall have effect, any thing in Act VI. of 1847 to the contrary notwithstanding.

Section 2. Pice legal tender for Dollars and Price 6 Pie.

2. Pice legal tender for Dollars and Price 6 Pie. From and after the first day of July 1855, within the said Settlement, a pice coined according to Act XXII. of 1844 shall be legal tender for one one hundred and fortieth part of a Dollar, and a double pice so coined shall be legal tender for one-seventieth part of a Dollar; and a pie so coined shall be legal tender for one four hundred hundred and twentieth part of a Dollar; also a half-pice coined according to Act XI. of 1854 shall be legal tender for one two hundred and eightieth part of a Dollar.

Section 3. Proviso

Provided always, and it is hereby enacted, that no copper coins within the said Settlement shall be legal tender except for fractions of a Rupee, or fractions of a Dollar.