Replacement of currency unfit for circulation.
Section 58
SEC. 58. Replacement of currency unfit for circulation.— The Central Bank shall withdraw from circulation and shall demonetize all notes and coins which for any reason whatsoever are unfit for circulation and shall replace them by adequate notes and coins: Provided, however, That the Central Bank shall not replace notes and coins the identification of which is impossible, coins which show signs of filing, clipping or perforation, and notes which have lost more than two-fifths of their surface or all of the signatures inscribed thereon. Notes and coins in such mutilated condition shall be withdrawn from circulation and demonetized without compensation to the bearer, unless it is proved to the satisfaction of the Central Bank that the currency became unfit for circulation as a result of accidental causes or forces beyond control, in which ease replacement shall be made.