The Coinage Act, 2011
ACT NO. 11 OF 2011
PREAMBLE
An Act to consolidate the laws relating to coinage and the Mints, the protection of coinage and to provide for the prohibition of melting or destruction of coins and prohibit the making or the possession thereof for issue and for matters connected therewith or incidental thereto.
ARRANGEMENT OF SECTIONS
CHAPTER I
PRELIMINARY
SECTIONS
- Short title, extent and commencement.
- Definitions.
CHAPTER II
ESTABLISHMENT OF MINTS - Power to establish and abolish Mints.
CHAPTER III
COINAGE - Denominations, dimensions, designs and composition of coins.
- Standard weight and remedy.
- Coin when a legal tender.
- Decimal system of coinage.
- Power to call in coin.
CHAPTER IV
DIMINISHED, DEFACED AND COUNTERFEIT COINS - Power to certain persons to cut, diminished or defaced coins.
- Power to certain persons to cut counterfeit coins.
- Power of Mint to delegate its functions.
CHAPTER V
OFFENCES AND PENALTIES - Prohibition of making or melting or destruction of coins.
- Penalty for contravention of section 12.
- Prohibition and penalty for unlawful making, issue or possession of pieces of metal to be used as
money. - Prohibition and penalty for bringing metal piece for use as coin.
- Offences by companies.
CHAPTER VI
MISCELLANEOUS - Forfeiture.
- Probation of Offenders Act, 1958 not to apply to offences under this Act.
- Offences to be cognizable, bailable and non-compoundable.
- Amendment of Act 2 of 1934.
- Offences may be tried summarily.
- Protection of action taken in good faith.
- Power to remove difficulties.
- Power to make rules.
- Rules to be laid before Parliament.
- Saving of making other coins at Mints.
- Repeal and savings.
- Continuance of existing coins.
