Bronze Coin (Legal Tender) Act, 1918

Bronze Coin (Legal Tender) Act, 1918

Bronze Coin (Legal Tender) Act, 1918

[Act No. 22 of 1918] 1

[26th September, 1918]

1. For Proceedings in Council, see Gazette of India, 1918, Pt. Vi, Page 1001 and 1140.

“This Act has been extended to the new Provinces and merged States by the Merged States (Laws) Act, 1949 (59 of 1949), S. 3(1-1-1950) and to the union Territories of Manipur, Tripura (new States) and Vindhya Pradesh by the Union Territories (Laws) Act, 1950 (30 of 1950), S.3 (16-4-1950). Vindhya Pradesh now forms part of Madhya Pradesh- See Act 37 of 1956, s. 9(i)(e) ( 1-11-1956 ).

STATEMENT OF OBJECTS AND REASONS

“It is of importance to enable the Indian Mints to increase the rate of output of rupees from the large supply which the Government of India are at present obtaining. One method of effecting this is to arrange for the coinage elsewhere of the bonze coinage which is at present carried out by the Calcutta Mint. An arrangement has accordingly been entered into with His Exalted Highness the Nizam of Hyderabad lore the coinage, for the present, at the Hyderabad Mint of bronze pace or quarter Anna pieces. In order to make the piece so coined legal tender, within British India, legislation is required since under Section 14 of the Indian Coinage Act, 1906 (3 of 1906). read with Section 8thereof only pace coined at Mints established under the Indian Coinage Act are legal tender within British India. It is accordingly proposed by the present Bill that where the bronze coinage specified in the Indian Coinage Act are coined outside British India at the request of the Governor-General in Council, and the Governor-General in Council is satisfied that such coins are in accordance with the requirements of the Act and of any notification for the time being in force there under, he may by notification in the Gazette of India, direct the issue of any such coins, and these shall there after be legal tender in the same manner as if the had been coined under the provisions of the Indian Coinage Act”.- Gazette of India, 1918, Part V, page 82.

An Act to provide that certain bronze coins coined outside 1[Part A States and Part C States] shall be legal tender in 1[Part A States and Part C States]

WHEREAS it is expedient to provide that certain bronze coins coined outside 1[Part A States and Part C States] shall be legal tender in 2[Part A States and Part C States]:

It is hereby enacted as follows:-

1. Substitued the words “the Provinces” by A.L.O. 1950.

2. Power to declare certain bronze coins coined outside Part A States and Part C States to be legal tender

(1) Where bronze coins of any of the denominations specified in section 8 of the Indian Coinage Act, 1906-, are coined outside 1[Part A States and Part B States] at the request of the 2[Central Government]is satisfied that such coins are in accordance with the requirements of section 9-and of any notification for the time being in force undersection 10-of the said Act 3[it] may, by notification in the [Official Gazette], direct the issue of any such coins, and thereafter any such coins shall be legal tender in payment or on account in the same way and to the same extent as if they were coins referred if in section 14-of the said Act, and the provisions of the said Act shall apply accordingly.

(2) Every coin which is declared to be legal lender by sub-section (1) shall be deemed to be[Indian coin] within the meaning of section 230 of the Indian Penal Code-.

1. Substituted for “the Provinces’ by A. L. 0., 1950′.

2. Substituted by the A. 0. 1937 for ”G. G. in C”.

3. Substituted by the A. 0. 1937 for “he”

Misc – Laws and Bare Acts of India

Indian Laws – Bare Acts

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