Currency

25 Issue of currency by Bank

(1)

The Bank shall have the sole right to issue bank notes and coins in New Zealand.

(2)

The Bank shall determine the denominations, form, design, content, weight, and composition of its bank notes and coins.

(3)

Every bank note issued by the Bank before the commencement of this Act, and every coin issued by the Minister under the Decimal Currency Act 1964 or under the Coinage Act 1933 by virtue of the Decimal Currency Act 1964, which is legal tender at the commencement of this Act shall be deemed for all purposes to have been made or issued under this Act.

Compare: 1964 No 27 s 10; 1964 No 134 s 20(1), (3)