THE COINAGE ACT.

Waikato Times, Volume 114, Issue 19118, 1 December 1933, Page 5

THE COINAGE ACT.

COIVIES INTO FORCE TO-DAY. STATEMENT BY MINISTER. WELLINGTON, Thursday. The Coinage Act, recently passed by Parliament, will come into operation to-morrow, December 1, according to a proclamation issued in to-nignt s Gazette. With the coming into operation 01 the Act, the temporary provision in the Finance Act, 1932-33. No. 2, under which the new silver coins being issued were made legal tender, is repealed, and the Dominion coinage is governed completely by the provisions of the Coinage Act. In an Interview to-night the Minister of Finance, the Rt. Hon. J. G. Coates, said that under the of the Act the New Zealand coins were, of course, made legal tender for the payment of any amount not exceeding 40s. J "It should be understood, however, said Mr Coates, “that in the .meantime the British coins also remain legal tender to a similar extent. Later, after the change-over has been completed and the Government Is satisfied that the whole of the Imperial coin has been withdrawn, action will be taken under power contained in section 5 of the Act to declare that British coins shall no longer be lega tender in New Zealand. Australian silver coin is not legal tcndei, ai there has never been any legal authority for its circulation in New Zealand.” THE DOMINION ISSUE. LEGAL TENDER UP TO £2. WELLINGTON, Thursday. The Coinage A ct > recently passed bv parliament, will come into operation to-morrow, December 1, according to a proclamation issued in tonight's Gazette. With the coming into operation of the Act, Die temporary provision m the Finance Act, 1932-33, No. 2, undei which the new-silver coins now being issued were made legal tender, is repealed, and Die Dominion coinage is now governed completely by the provisions of Die Coinage Act in an interview to-night the Minister of Finance, the Rt- Hon. J. G. Coates, said that under the terms of the Act the New Zealand coins were, of course, made legal lender lot thv payment of any amount not exceeding 40s. , “It should lie understood, however” said Mr Coates, “that in the meantime Die Rrilish coins also remain legal lender to a similar extent, lailer al'ler Ibe change-over has been cmnfileled and Ibe Government .s satisfied Dial Die whole o| Die Imji ia 1 coin lias been withdrawn, i,I inn wi'l be taken under power con mined in section 3 of Die Act to declare Dial British coins shall no hnser he legal lender in New Zealand. Australian in is not legal tender, and there has never been any legal authority for its circulation in New Zealand,”