Mutilating, destroying or defacing currency notes and coins
Open ↗23.—(1) Subject to subsections (2) and (3), any person who —(a)
mutilates or destroys any currency note or coin;
(b)
causes any change in a coin so as to destroy or diminish its value or utility;
(c)
prints or stamps, or by any similar means writes, or impresses, on any currency note any mark, word, letter or figure; or
(d)
defaces any coin by stamping thereon any name or word, whether the coin is or is not thereby impaired, diminished or lightened,
shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000.
[6/2019]
(2) To avoid doubt, a licensed security service provider who sells any IBNS or who employs an IBNS in carrying out cash‑in‑transit services is not, by reason only of such sale or employment, liable to be convicted of an offence under —(a)
subsection (1)(a) for any mutilation or destruction of a currency note; or
(b)
subsection (1)(c) for any printing or stamping, or by any similar means any writing or impressing, of any mark, word, letter or figure on a currency note,
that is caused by the activation of the IBNS.
[6/2019]
(3) An applicant for a security service provider’s licence to sell any IBNS, or to employ an IBNS in carrying out cash‑in‑transit services, is not liable to be convicted of an offence under —(a)
subsection (1)(a) for any mutilation or destruction of a currency note; or
(b)
subsection (1)(c) for any printing or stamping, or by any similar means any writing or impressing, of any mark, word, letter or figure on a currency note,
that is caused by the activation of the IBNS in any trial or demonstration of the applicant’s IBNS that is required by a licensing officer for the purpose of deciding the application.
[6/2019]
(4) This section is not to be construed as limiting or affecting the provisions of the Penal Code 1871.
(5) In this section —“licensed security service provider” means a holder of a security service provider’s licence under the Private Security Industry Act 2007 —(a)
to sell any IBNS; or
(b)
to employ an IBNS in carrying out cash‑in‑transit services;
“licensing officer” means a licensing officer as defined in section 2 of the Private Security Industry Act 2007;
“security service provider’s licence” means a security service provider’s licence granted under the Private Security Industry Act 2007.[6/2019]
Counterfeit currency notes and coins to be forfeited
Open ↗24. An officer of the Authority is empowered to seize any currency note or coin tendered to the Authority, which the officer believes on reasonable grounds to be counterfeit and, upon such seizure, that note or coin is forfeited to the Authority.
Power of arrest
Open ↗25. Any police officer may arrest without warrant any person —(a)
offending in the police officer’s view against section 14, 20 or 23; or
(b)
against whom a reasonable complaint has been made or creditable information has been received or a reasonable suspicion exists of the person having contravened section 14, 20 or 23.
Consent of Public Prosecutor
Open ↗26. No prosecution for any offence under this Act may be instituted without the consent of the Public Prosecutor.[15/2010]
Regulations
Open ↗28. The Authority may make such regulations as may be required from time to time for carrying into effect the provisions of this Act or prescribing anything that may be prescribed.
Saving and transitional provisions
Open ↗29.—(1) On 1 October 2002 —(a)
the Board of Commissioners of Currency, Singapore (called in this section the Board) shall be dissolved;
(b)
currency notes and coins issued by the Board before 1 October 2002 shall for all purposes be deemed to have been issued by the Authority;
(c)
the reserves accumulated by the Board before the current term of office of the Government shall be added to the reserves accumulated by the Authority before such term; and
(d)
all assets and moneys of the Currency Reserve Fund shall be transferred to the Currency Fund.
(2) Any decision made by the Board under this Act before 1 October 2002 is deemed to be a decision made by the Authority.
(3) Any permission, consent, approval or authorisation granted by the Board under this Act before 1 October 2002 is, so far as it is not inconsistent with the provisions of this Act, deemed to be a permission, consent, approval or authorisation granted by the Authority.
(4) Any certificate, notice, order, direction or declaration issued or made by the Board or an officer of the Board under this Act before 1 October 2002 is deemed to be a certificate, notice, order, direction or declaration issued or made by the Authority or an officer of the Authority.
(5) Where in any document any reference is made to the Board of Commissioners of Currency, Singapore, such reference is, as from 1 October 2002, to be read as the Monetary Authority of Singapore.
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
