Legal Tender (Coins) (Jersey) Order 2017

Made                                                                          3rd March 2017

Coming into force                                                       3rd March 2017

THE MINISTER FOR TREASURY AND RESOURCES, in pursuance of Articles 4 and 5 of the Decimal Currency (Jersey) Law 1971[1], orders as follows –

1        Interpretation

In this Order, the “Law” means the Decimal Currency (Jersey) Law 1971[2].

2        Additional category of coins specified as legal tender

(1)     Coins of the denomination of £1 and of the description set out in paragraph (2) which are issued in a manner described in Article 4(1) of the Law shall be legal tender for the payment of any amount.

(2)     The description mentioned in paragraph (1) is: 12-sided, bi-metallic coins with joined concentric inner and outer sections, of either –

(a)     as to the inner section, silver alloy and as to the outer section, gold-plated silver alloy; or

(b)     as to the inner section, nickel-plated metal alloy and as to the outer section, nickel-brass,

and in each case bearing the security features set out in paragraph (3).

(3)     The security features mentioned in paragraph (2) are –

(a)     micro-lettering on the lower rim of both the obverse and reverse face;

(b)     milled grooves on alternate sides of the outer edges; and

(c)     a latent (holographic) image changing, when a coin is viewed from varying angles, from the symbol “£” to the symbol “1”.

3        Calling in of £1 coins

Coins of the denomination of £1 and issued prior to 28th March 2017 in pursuance of the Law or of Article 2 of the Decimal Currency (Jersey) Law 1969[3] shall be called in by no later than 15th October 2017.

4        Citation and commencement

This Order may be cited as the Legal Tender (Coins) (Jersey) Order 2017 and shall come into force immediately upon being made.

senator a.j.h. maclean

Minister for Treasury and Resources

 


 



[1]                                    chapter 24.690

[2]                                    chapter 24.690

[3]                                    L.7/1969 (repealed by L.4/1971)


Page Last Updated: 09 Mar 2017