This Ordinance lets the Chief Executive in Council authorize and later end legal tender coins, and lets the Financial Secretary appoint someone to mint authorized coins.
An Ordinance to make provision for the issue of legal tender coins, to provide for matters relating to the demonetization of the one cent currency note and to provide for other related matters. [30 December 1994] L.N. 683 of 1994(Format changes—E.R. 5 of 2020) (Enacting provision omitted—E.R. 5 of 2020) 1. Short title (Amended E.R. 5 of 2020)(1) This Ordinance may be cited as the Coinage Ordinance.(2) (Omitted as spent—E.R. 5 of 2020) 2. Legal tender coins (1) The Chief Executive in Council may, by order, authorize the issue of coins with the design and of the denomination, composition, standard weight and remedy allowance specified in the order, and such coins shall, provided they have not been dealt with in any manner prohibited by law, be legal tender for payment as follows— (Amended 68 of 1999 s. 3)(a) for coins of denominations of not less than $1, for the payment of an amount not exceeding $100;(b) for coins of denominations of less than $1, for the payment of an amount not exceeding $2.(2) Each coin shall be legal tender only for the amount of its denomination.(3) A coin shall be deemed to have been dealt with in a manner prohibited by law where the coin has been impaired, diminished or lightened otherwise than by fair wear and tear or has been defaced by having any name, word or mark stamped or engraved thereon or by cutting, punching or chopping in any way whatever.(4) The Chief Executive in Council may make regulations providing that any coin which has been dealt with in a manner prohibited by law may be called in, cut, broken, defaced or disposed of in accordance with such regulations. (Amended 68 of 1999 s. 3) 3. Legal tender coins to continue Any coins that were, on the day immediately preceding the day that this Ordinance comes into operation*, legal tender in Hong Kong, shall be deemed to have been authorized for issue under this Ordinance. Editorial Note: * Commencement date: 30 December 1994. 4. Demonetizing coins The Chief Executive in Council may at any time, by order, declare that any coins which are legal tender in Hong Kong shall cease to be legal tender from a date specified in the order and such coins shall accordingly cease to be legal tender from such date. (Amended 68 of 1999 s. 3) 5. Minting of coins The Financial Secretary may appoint a person, whether in Hong Kong or elsewhere, to mint the coins that have been authorized to be issued under this Ordinance and the Financial Secretary may make the appointment on such terms as he thinks fit. 6. Demonetization of the one cent currency note (1) Subject to subsection (2), where the Financial Secretary, under section 7 of the Dollar and Subsidiary Currency Notes Ordinance (Cap. 67), demonetizes the one cent currency note, the holder of any one cent currency notes shall, on surrendering them to the Director of Accounting Services, be paid from the general revenue of Hong Kong an amount in legal tender equal to their face value.(2) Where the aggregate value of the currency notes is—(a) less than 10 cents, nothing shall be paid for them;(b) 10 cents or more, payment shall be made for each multiple of 10 currency notes but, with respect to any portion left over which is not a multiple of 10, nothing shall be paid for them. 7. (Omitted as spent—E.R. 5 of 2020)