Currency Act, 1964 (Act 242) | Act 242 — Ghana law | Esheria

Currency Act, 1964 (Act 242)

A person commits an offence if they discount current coin or a note below its face value, or try to do so.

Jurisdiction
Ghana
Instrument
Act or statute
Citation
Act 242
Version
Undated source snapshot
Language
en
Official source
View official record ↗
banking cash handling coin alteration coinage coins and notes counterfeit coin counterfeit coin instruments counterfeit coin-like metals counterfeit currency counterfeit notes counterfeiting court evidence court proceedings criminal enquiries currency currency control currency regulation definitions export controls financial crime foreign currency circulation forfeiture forged notes forgery +24 more

Statute overview

About this statute

A person commits an offence if they discount current coin or a note below its face value, or try to do so. It is an offence for any person to buy, sell, offer, induce, or use current silver coin legal tender in Ghana at more than its face value. A person must not make the sale price of goods or property vary depending on whether payment is made in coin, silver coin, or notes. A person must not refuse to sell an article offered in the ordinary course of business because the buyer offers current coins or notes as payment. People convicted of offences under sections 1, 2, or 3 can be jailed for up to 10 years or fined up to 500 Ghanaian pounds, or both. Offences under section 4 can lead to up to 3 years' imprisonment or a fine up to 250 Ghanaian pounds, or both.

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