Coinage Act : PROCEDURE IN REGARD TO COIN CUT UNDER SECTION 16(B) Indian Bare Acts :

Coinage Act,1906

Act No : 3

Section : PROCEDURE IN REGARD TO COIN CUT UNDER SECTION 16(B)

SECTION 18: PROCEDURE IN REGARD TO COIN CUT UNDER SECTION 16(B)

A person cutting or breaking coin under the provisions of clause (b) of section 16-shall observe the following procedure, namely:-

(a) if such person has reason to believe that the coin has been fraudulently defaced, he shall return the pieces to the person tendering the coin, who shall bear the loss caused by such cutting or breaking;

(b) if such person has not reason to believe that the coin has been fraudulently defaced, he shall receive and pay for the coin at its nominal value.