RESERVE BANK ACT 1959 - SECT 36 Notes to be legal tender
RESERVE BANK ACT 1959 - SECT 36
Notes to be legal tender(1) Australian notes are a legal tender throughout Australia .
(2) For the purposes of subsection ( 1), an Australian note of a denomination specified in the first column of the following table has the value in the currency provided for by the Currency Act 1965 that is set out in the second column of that table opposite to the denomination of that note:
Table |
|
First Column | Second Column |
Ten shillings | One dollar |
One pound | Two dollars |
Five pounds | Ten dollars |
Ten pounds | Twenty dollars |
Twenty pounds | Forty dollars |
Fifty pounds | One hundred dollars |
One hundred pounds | Two hundred dollars |
One thousand pounds | Two thousand dollars |