AI-assisted research summary: Ascension’s currency is the St Helena Pound, and specified notes and coins are legal tender there. The Governor can authorize commemorative coins with approval, and related coin arrangements must include a face-value buyback undertaking.
ASCENSION REVISED EDITION OF THE LAWS, 2017 PUBLIC FINANCE AND REVENUE CURRENCY (ASCENSION) ORDINANCE, 20091 Ordinance A4 of 2009 In force 18 August2009 No amendments to 1 November 2017 No subsidiary legislation to 1 November 2017 __________________ CURRENCY (ASCENSION) ORDINANCE, 2009 ARRANGEMENT OF SECTIONS 1. Short title 2. Unit of currency 3. Legal tender 4. Coins commemorating notable events 5. Disapplication of St Helena Currency Ordinance AN ORDINANCE to determine the unit of currency and legal tender for Ascension and to make provision for the issue of commemorative coins; and for connected or incidental matters. Short title 1. This Ordinance may be cited as the Currency (Ascension) Ordinance, 2009. Unit of currency 2. The unit of currency of Ascension is the St Helena Pound. Legal tender 3. (1) The following notes and coins are legal tender within Ascension: 1 Under section 10 of the Revised Edition of the Laws Ordinance, 1999 this text is authoritative and is the sole authentic edition in respect of the law contained in it as at 1 November 2017. 2 (a) St Helena notes and coins issued on behalf of the Government of St Helena pursuant to the Currency Ordinance, 1975 which are legal tender within St Helena; (b) Bank of England notes and coins of the United Kingdom, which are legal tender within St Helena, as provided for in section 21 of the Currency Ordinance, 1975; and (c) coins issued under section 4, if such coins are of current weight and have not been illegally dealt with. (2) For purposes of subsection (1)(c)— (a) a coin is deemed not to be 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 by the Governor as the least current weight of such coin; and (b) a coin is deemed to have been illegally dealt with if it has been impaired, diminished or lightened, otherwise than by fair wear and tear, or has been defaced by having any name, word, device, or number stamped or engraved on it, whether or not the coin has been thereby diminished or lightened. Coins commemorating notable events 4. (1) The Governor may, with prior approval of the Secretary of State, cause coins to be made and issued to commemorate notable events of importance to Ascension. (2) Coins issued under subsection (1) must be of such denominations and of such weight, form and design and made of such metal or metals as from time to time specified by Proclamation made by the Governor with the approval of the Secretary of State. (3) The Governor (or the Administrator acting with the consent of the Governor) may enter into a contractual arrangement appointing a person to mint and market commemorative coins referred to in subsection (1): but any such contractual arrangement must contain an undertaking by such person to accept back at face value any coin which is presented to the Administrator for redemption. Disapplication of St Helena Currency Ordinance 5. Except for purpose of giving effect to section 3(1)(a) and (b), the Currency Ordinance, 1975 of St Helena ceases to apply to Ascension. ______________________