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Indian Coinage (Amendment) Act, 1955

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[Act, No. 31 of 1955]

[17th September, 1955]

Preamble

An Act further to amend the Indian Coinage Act, 1906.

BE it enacted by Parliament in the Sixth Year of the Republic of India as follows:-

1. Short title and commencement.-

(1) This Act may be called the Indian Coinage (Amendment) Act, 1955.

(2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

2. Insertion of new section 14.-

After section 13 of the Indian Coinage Act, 1906 (3 of 1906), the following section shall be inserted, namely:-

14. Decimal system of coinage.- (1) The rupee shall be divided into one hundred units and the new coin representing such unit may be designated by the Central Government, by notification in the Official Gazette, under such name as it thinks fit, and the rupee, half-rupee and quarter-rupee shall be respectively equivalent to one hundred, fifty and twenty-five such new coins and shall, subject to the provisions of sub-section (1) and sub-section (2) of section 13 and to the extent specified therein, be a legal tender in payment or on account accordingly.

(2) All coins issued under the authority of this Act in any denominations of annas, pice and pies shall, to the extent specified in section...

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