Updated: Tuesday May 20, 2014/AthThulatha Rajab 21, 1435/Mangalavara Vaisakha 30, 1936, at 06:12:40 PM
The
ACT No. III OF 1906
(For Statement of Objects and Reasons, see Gazette of India, 1905, Part. V, p. 32; for Report of the Select Committee, see bid., 1906, Part. V, p. 9; and for Proceedings in Council, see ibid., 190, Part VI, p. 142; ibid 1906, Part VI, p. 28.
This Act has been declared to be in force in,---
(1) Upper Tanawal, an excluded area in N.‑W.F.P, by N.‑W.F.P Regulation I of 1941;
(2) Chittagong
Hill Tracts by
It has been extended to the Leased Areas of Baluchistan, see the Leased Areas (Laws) Order, 1950 (G. G. O. 3 of 1950); and applied in the Federated Areas of Baluchistan, see Gazette of India, 1937, Pt. I, p. 1499.
It has also
been extended to the Baluchistan States Union, see the
It has also been extended to the
It has also
been extended to the State of
It has also been extended to the Baluchistan by Baluchistan Laws Reg. II of 1913 s. 3.
The Act has been and shall be deemed to have been brought into force in Gawadur with effect from the 8th September, 1958 by the Gawadur (Application of Central Laws) Ordinance, 1960 (37 of 1960), s. 2.)
[2nd March, 1906]
An Act to consolidate and amend the law relating to Coinage and the Mint.
WHEREAS it is expedient to consolidate and amend the law relating to Coinage and the Mint, It is hereby enacted as follows:---
l. Short title and extent.---(Subs. by the Pakistan (Monetary System and Reserve Bank) Order, 1947 (G. G. O. 21 of 1947), Art. 10, for the original section 1.) (1) This Act may be called the Pakistan Coinage Act.
(2) It extends
to the whole of
2. Definition.--- In this Act, unless there is anything repugnant in the subject or
context,---
(a) “deface,”
with its grammatical variations and cognate expressions, includes clipping,
filing, stamping or such other alteration of the surface or shape of a coin as
readily distinguishable from the effects of reasonable wear ;
(b) “the Mint” includes the Mints now existing and any
which may hereafter be established;
(c) “prescribed” includes prescribed by a rule made
under this Act;
(d) “remedy” means variation from the standard weight
and fineness; and
(e) “standard weight” means the weight prescribed for
any coin.
3. Power to establish and abolish Mints.--- The (Subs. by A. O., 1937, for “G. G. in C.”.)[Central Government] may, by notification in the (Subs. ibid. for “Gazette of India”.)[official Gazette],---
(a) establish a Mint at any place at which a Mint does not for the time being exist ; and
(b) abolish any Mint, whether now existing or hereafter established.
(The heading-Silver Coinage” omitted by the Indian Coinage (Amdt.) Act, 1947 (28 of 1947), s. 2.) * *
4. [Silver
Coins. Standard weight and fineness.] Rep. by the Indian Coinage (Amendment)
Act, 1947 (28 of 1947), s. 2. (S.6 and the heading above it, subs. ibid., s. 3,
for the original heading and s. 6 as subsequently amended.) [COINAGE]
5. [Silver
Coins. Standard weight and fineness.] Rep. by the Indian Coinage (Amendment)
Act, 1947 (28 of 1947), s. 2. (S.6 and the heading above it, subs. ibid., s. 3,
for the original heading and s. 6 as subsequently amended.) [COINAGE]
6. Denomination, dimensions, designs and composition
of coins.--- ( S.6 and the heading
above it, subs. ibid., s. 3, for the original heading and s. 6 as subsequently
amended.) Coins may be coined at the Mint for issue under the authority
of the Central Government, of such denominations [nor less than one rpuee][1]
not higher than one rupee, of such dimensions and designs, and of such metals
or of mixed metals of such composition as the Central Government may, by (For
instances of such notifications, see Gaz. of P., 1960, Ext., pp. 1353‑1355,
ibid. 1963, Ext., pp. 89‑90 and ibid., 1964, Ext., pp. 141‑144.)
notification in the official Gazette, determine.]
[7. Standard weight and remedy:--- The(Subs. by the Indian Coinage (Amendment) Ordinance,
1942 (4 of 1942), s. 2, for sections 7, 8 and 9. For instances of notification
under section 7, see Gaz. of P., 1952, Pt. I., pp. 212‑213, ibid., 1960,
Ext., p. 1353, ibid., 1963, Ext., p. 91, and ibid., 1964, Ext., p. 142.)
standard weight of the coins of any denomination coined under the provisions of
section 6, and the remedy allowed in the making of such coins shall be such as
may be prescribed in this behalf by the Central Government.]
8.* * * * * * * * * *( Subs. by the Indian Coinage
(Amendment) Ordinance, 1942 (4 of 1942), s. 2, for sections 7, 8 and 9. For
instances of notification under section 7, see Gaz. of P., 1952, Pt. I., pp.
212‑213, ibid., 1960, Ext., p. 1353, ibid., 1963, Ext., p. 91, and ibid.,
1964, Ext., p. 142.)
* * * *(
The heading “Dimensions and Designs of Coins” was omitted by the Indian Coinage
(Amdt.) Act, 1947 (28 of 1947), s. 4.)
9.* * * * * * * * * *( Subs. by
the Indian Coinage (Amendment) Ordinance, 1942 (4 of 1942), s. 2, for sections
7, 8 and 9. For instances of notification under section 7, see Gaz. of P.,
1952, Pt. I., pp. 212‑213, ibid., 1960, Ext., p. 1353, ibid., 1963, Ext.,
p. 91, and ibid., 1964, Ext., p. 142.)
* * * *( The heading “Dimensions and Designs of Coins” was omitted
by the Indian Coinage (Amdt.) Act, 1947 (28 of 1947), s. 4.)
10. [Power
to direct coining and to prescribe dimensions and designs. Demonetizations of
sovereign and half sovereign. Silver coin when a legal tender.] Rep. by the
Indian Coinage (Amendment) Act, 1947 (XXVIII of 1947).
11. [Power
to direct coining and to prescribe dimensions and designs. Demonetizations of
sovereign and half sovereign. Silver coin when a legal tender.] Rep. by the
Indian Coinage (Amendment) Act, 1947 (XXVIII of 1947).
12. [Power
to direct coining and to prescribe dimensions and designs. Demonetizations of
sovereign and half sovereign. Silver coin when a legal tender.] Rep. by the
Indian Coinage (Amendment) Act, 1947 (XXVIII of 1947).
[13. Coin when
a legal tender--- (1) The coins
issued under the authority of section 6 shall be legal tender in payment or on
account for any sum:---
Provided that the coin has not been defaced and has
not lost weight so as to be less than such weight as may be prescribed in its
case.
(2) All the gold or silver coins issued under the Act
on or after the 1st day of January, 1976, shall continue as before
to be legal tender in payment or on account for any sum:---
Provided that the coin has not been defaced and has
not lost more than one-fortieth of weight as specified below,---
(a) In case
of gold,---
(i)
33.437 grams in the case of three thousand rupee coin issued in 1976 to
commemorate to conservation of Astor Markhor;
(ii)
9 grams in case of one thousand rupee coin issued in 1977 to commemorate
the Islamic Summit Conference;
(iii)
4.5 grams in case of five thousand rupees coin issued in 1976 to
celebrate the 100th birth anniversary of Quaid-e-Azam Muhammad Ali
Jinnah; and
(b) In case
of silver,---
(i)
28.28 grams in the case of one hundred rupee coin issued in 1976 to
commemorate conservation of
(ii)
20.44 grams in case of the one hundred rupees coin issued in 1976 to
celebrate the 100th birth anniversary of Quaid-e-Azam Muhammad Ali
Jinnah;
(iii)
20.44 grams in case of the one hundred rupees coin issued in 1977 to commemorate
the Islamic Summit Conference;
(iv)
20.44 grams in case of the one hundred rupees coin issued in 1977 to
celebrate the 100th birth anniversary of Allama Iqbal; and
(v)
35 grams in case one hundred fifty rupees coin issued in 1976 to
commemorate the conversation of Gharial Crocodile.”.[2]
14.* * * * * * * * * * *( By the Indian Coinage (Amdt.) Ordinance, 1942 (4 of 1942),
section 14 and the original section 13 were together substituted by a single
section I which has again been subs. by the Indian Coinage (Amdt.) Act, 1947
(28 of 1947), s. 5.)
15. [Coin
made under former Acts.] Rep. by the Indian Coinage (Amendment) Act, 1947
(XXVIII of 1947).
[15-A. Power to call in coin:--- ( S. 15A ins. by the Indian Coinage (Amdt.)
Act 1924 (10 of 1924) s.3.)Notwithstanding anything contained in (Subs. by Act 28 of 1947, s. 7, for `section 12, section 13,
or section 15,”)[section 13,] the (Subs. by A.
O., 1937, for “G. G. in C.”)[Central Government] may, by (For instance of notifications, see Gaz. of P., 1963, Pt. I.,
p. 234, ibid., 1964, Pt. I., p. 340.) notification in the (Subs. by A. O., 1937 for “Gazette of India”.)[official
Gazette], call in, with effect from such date as may be specified in the
notification, any coin, of whatever date or denomination, referred to in (Subs. by Act 28 of 1947, s. 7, for “any of those sections”.)[that
section] (The words “other than the rupee and half‑rupee
referred to in sub‑section (1) of section 12”,omitted by the Indian
Coinage (Second Amdt.) Ordinance, 1940 (12 of 1940), s. 2.)* * * and on
and from the date so specified such coin shall cease to be a legal tender (Subs. ibid., for the words “save at a Government currency
office’’)[save to such extent as may be specified in the notification].
* * * * * *
*](
Proviso omitted, ibid.)
[DECIMAL COINAGE(The heading and s. 15B, ins. by the Pakistan Coinage Act
(Amdt. Ordinance, 1960 (31 of 1960), s. 2.)
“15-AA.
15-B. Decimal coinage etc.---[(1) The rupee shall be divided into one hundred units
and the new coin representing such unit may be designated by the Central
Government, by (For instance of notification, see Gaz.
of P., 1960, Ext., p. 1353.) notification in the official Gazette, under
such name as it thinks fit, and the rupee, half-rupee and quarter-rupee shall
respectively be equivalent to one hundred, fifty and twenty-five such new coins
and shall, subject to the provisions of sub-section (1), and sub‑section
(2) of section 13, and to the extent specified therein, be legal tender in
payment or on account accordingly.
(2) All coins issued under the authority of this Act
in the denominations of annas, pice and pies shall, to the extent specified in
section 13, be legal tender in payment or on account at the rate of sixteen
annas, sixty-four pice or one hundred and ninety two pies to one hundred new
coins referred to in sub-section (1), calculated in respect of any such single
coin or number of such coins, tendered at one transaction, to the nearest new
coin, or where the new coin above and the new coin below are equally near, to
the new coin below.
(3) All references in any enactment or in any
notification, rule or order under any enactment, or in any contract, deed or
other instrument, to any value expressed in annas, pice and pies shall be construed
as references to that value expressed in new coins referred to in sub-section
(1) converted thereto at the rate specified in sub-section (2).]][4]
16. Power to certain persons to cut diminished or
defaced silver coins---Where any
silver coin which has been coined and issued under the authority of the (Subs. by A. O., 1937, for “G.G. in C.”.)[Central
Government] is tendered to any person authorised by the (Subs. by A. O., 1937, for “G.G. in C.”.)[Central
Government] (The words “or by the L. G.” omitted,
ibid.)* * * to act under this section, and such person has reason to
believe that the coin,---
(a) has been diminished in weight so as to be more
than such percentage below standard weight as may be prescribed as the limit of
reasonable wear, or
(b) has been defaced, he shall, by himself or another,
cut or break the coin.
17. Procedure in regard to coin cut under section
16(a).---A person cutting or breaking
coin tinder the provisions of clause (a) of section 16 shall observe the
following procedure, namely:---
(a) if the coin has been diminished in weight so as to
be more than such percentage below standard weight as may be prescribed as the
limit of reasonable wear, but not more than such further percentage as may be
prescribed in this behalf, he shall either return the pieces to the person
tendering the coin, or, if such person so requests, shall receive and pay for
the coin at such rates as may be prescribed in this behalf; and
(b) if the coin has been diminished in weight so as to
be more than such further percentage below standard weight so prescribed as
aforesaid, he shall return the pieces to the person tendering the coin, who
shall bear the loss caused by such cutting or breaking.
18. Procedure in regard to coin cut under section
16(b)---A person cutting or breaking
coin under the provisions of clause (b) of section 16 shall observe the following
procedure, namely:---
(a) if such person has reason to believe that the coin
has been fraudulently defaced, he shall return the pieces to the person
tendering the coin, who shall bear the loss caused by such cutting or breaking;
(b) if such person has not reason to believe that the
coin has been fraudulently defaced, he shall receive and pay for the coin at
its nominal value.
Explanation.-For the purposes of this section a coin
which there is reason to believe has been defaced by sweating shall be deemed
to have been fraudulently defaced.
19. Procedure in regard to coin which is liable to be
cut under both clause (a) and clause (b) of section 16:---If a coin is liable to be cut or broken under the
provisions of both clause (a) and clause (b) of section 16, the person cutting
or breaking the coin shall deal with it,---
(a) if he has reason to believe that the coin has been
fraudulently defaced, under clause (a) of section 18, and
(b) in other cases, under section 17.
20. Power to certain persons to cut counterfeit or
fraudulently defaced coin and procedure in regard to coin so cut:---Where any (The words “silver
or other” omitted by the Indian Coinage (Amdt.) Act, 1947 (28 of 1947), s. 8.)*
* * coin purporting to be coined or issued under the authority of the (Subs. by A. O., 1937, for “G. G. in C.”.)[Central
Government] is tendered to any person authorised by the (Subs. by A. O., 1937, for “G. G. in C.”.)[Central
Government] (The words “or by the L. G.” omitted,
ibid.)* * * to act under this section, and such person has reason to
believe that the coin is counterfeit (Ins. by Act 28
of 1947, s. 8.)[or has been fraudulently defaced], he shall by himself
or another cut or break the coin, and may at his discretion either return the
pieces to the tenderer, who shall bear the loss caused by such cutting or
breaking, or (Ins. by the Indian Coinage (Amdt.) Act,
1919 (21 of 1919), s. 6(2).)[in the case of silver coin] receive and pay
for the coin according to the value of the silver bullion contained in it.
21. Power to make rules--- (1) The (Subs. by A. O.,
1937, for “G. G. in C.”.)[Central Government] may make (For instances of rules, see Gaz. of P., 1960, Ext., p. 1355,
ibid., 1963, Ext., p. 91 and ibid., 1964, Ext., p. 142.) rules to carry
out the purposes and objects of this Act.
(2) In particular and without prejudice to the
generality of the foregoing power, such rules may,---
* * * * * * * * * *( Clause (a) omitted by the Indian Coinage (Amendment) Act.
1947 (28 of 1947), s. 9.)
(b) provide for the guidance of persons authorised to
cut or break coin under sections 16 and 20.
(c) determine the percentage of diminution in weight
below standard weight not being less (Subs. ibid., for
“in any case than two per cent.”.)[than two per cent. in the case of
silver coins or five per cent. in the case of pure nickel coins,] which shall
be the limit of reasonable wear.
(d) prescribe the further percentage referred to in
clause (a) of section 17, and the rates at which payments shall be made in the
case of coins falling under the same clause ; (The
word “and” and clause (e) rep. by the Currency Act. 1927 (4 of 1927), s. 2.)*
(The word “and” and clause
(e) rep. by the Currency Act. 1927 (4 of 1927), s. 2.). * * * * * * * * *
(3) Every such rule shall be published in the (Subs. by A. O., 1937, for “Gazette of India”.)(official
Gazette), and on such publication shall have effect as if enacted in this Act.
22. Bar of suits--- No suit or other proceeding shall lie against any person in respect of
anything in good faith done, or intended to be done under or in pursuance of
the provisions of this Act.
23. Saving of making of other coins at Mints:---Nothing in this Act shall be deemed to prohibit or
restrict the making at the Mint of coins intended for issue as money by the
Government of any territories beyond the limit of (The
original words “British India” have successively been amended by A. O., 1949,
Arts. 3(2) and 4, A. O., 1964, Art. 2 and Sch. and the Repealing and Amending
Ordinance, 1965 (10 of 19655). s. 3 and 2nd Sch. to read as above.)[
24. [Saving
of copper coins.] Rep. by the Indian Coinage (Amendment) Act, 1947 (XXVIII of
1947), s. 10.
[5][25. Act No. X of 2012 not to apply to the Mint.-
The Industrial Relations Act, 2012 (X of 2012) shall not apply to or in
relation to any person in the service of the Mint]
[1] Added by section 2 of
the Pakistan Coinage (Amendment) Act, 2013 (Act No. X of 2013).
[2] Added by section 3 of
the Pakistan Coinage (Amendment) Act, 2013 (Act No. X of 2013).
[3] Added by section 4 of the Pakistan Coinage (Amendment) Act, 2013 (Act No. X of 2013).
[4] Deleted by section 5
of the Pakistan Coinage (Amendment) Act, 2013 (Act No. X of 2013).
[5] Added by section 2 of the Pakistan Coinage (Amendment)
Act, 2019.
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