Commonwealth Consolidated Acts

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CURRENCY ACT 1965 - SECT 16

Legal tender

             (1)  A tender of payment of money is a legal tender if it is made in coins that are made and issued under this Act and are of current weight:

                     (a)  in the case of coins of the denomination of Five cents, Ten cents, Twenty cents or Fifty cents or coins of 2 or more of those denominations--for payment of an amount not exceeding $5 but for no greater amount;

                     (b)  in the case of coins of the denomination of One cent or Two cents or coins of both of those denominations--for payment of an amount not exceeding 20 cents but for no greater amount;

                     (c)  in the case of coins of a denomination greater than Fifty cents but less than Ten dollars--for payment of an amount not exceeding 10 times the face value of a coin of the denomination concerned but for no greater amount;

                     (d)  in the case of coins of the denomination of Ten dollars--for payment of an amount not exceeding $100 but for no greater amount; and

                     (e)  in the case of coins of another denomination--for payment of any amount.

             (2)  For the purposes of subsection (1), a coin shall be deemed to be not of current weight if it has become diminished in weight by wear or otherwise so as to be of less weight than the weight prescribed as the least current weight of that coin.



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