Coinage Act,1906
Act No : 3
Section : COIN WHEN A LEGAL TENDER
SECTION 13: COIN WHEN A LEGAL TENDER
- (1) The coins issued under the authority of section 6-shall be a legal tender in payment or on account,-
(a)12[in the case of a Coin of any denomination not lower than a rupee] for any sum;
(b) in the case of a half-rupee coin, for any sum not exceeding ten rupees;
(c) in the case of any other coin, for any sum not exceeding one rupee:
Provided that the coin has not been defaced and has not lost weight so as to be less than such weight as may be prescribed in its case.
(2) All silver coins issued under this Act after the 10th day of March, 194012[and before the commencement of the Indian Coinage (Amendment) Act, 1947] shall continue as before to be a legal tender in payment or on account,-
(a) in the case of a rupee coin, for any sum;
(b) in the case of a half-rupee coin, for any sum not exceeding ten rupees;
(c) in the case of a quarter-rupees, for any sum not exceeding one rupee: Provided that the coin has not been defaced and has not lost weight so as to be less than -
(i) 176.4 grains Troy in the case of a rupee coin, or
(ii) 88.2 grains Troy in the case of a half-rupee coin, or
(iii) such weight as may be prescribed in the case of a quarter -rupee coin.
(3) All nickel, copper and bronze coins which may have been issued under this Act before the 24th day of January 1942 shall continue as before to be a legal tender in payment or on account for any sum not exceeding one rupee.]
13[(4) All new coins in the naya paisa series, designated as such under the notification of the Government of India in the Ministry of finance, Department of Economic Affairs, No. S.R.O. 1120, dated 11th May, 1956 which may have been issued under this Act prior to the commencement of the Indian Coinage (Amendment) Act, 1964; shall continue to be a legal tender in payment or on account,-
(a) in the case of a half-rupee of fifty naya paise coin, for any sum not exceeding ten rupees;
(b) in the case of any other coin, for any sum not exceeding one rupee.]
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