Decimal Currency Act 1964

1: Preliminary provisions
1: Short Title and commencement
1: This Act may be cited as the Decimal Currency Act 1964.
2: Parts 1 4 5
3: Parts 2 3 Section 1(3) brought into force 10 July 1967 Decimal Currency Act Commencement Order 1967
2: Interpretation
In this Act, unless the context otherwise requires,— decimal currency Part 2 the decimal currency system existing currency the existing currency system Minister New Zealand section 3 1933 No 12 s 2 Section 2 approved machine repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989 Section 2 Board repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989 Section 2 prescribed repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
3: Application of Act to Cook Islands and
Tokelau This Act shall extend to and be in force in the following territories:
a: the Cook Islands:
b: Tokelau 1933 No 12 s 12 Section 3 heading amended 9 December 1976 section 3(8) Tokelau Amendment Act 1976 Section 3(b) amended 9 December 1976 section 3(8) Tokelau Amendment Act 1976
4: Act to bind the Crown
This Act shall bind the Crown.
2: Currency
5: Decimal currency system established
1: The monetary unit, or unit of currency, of New Zealand shall be the dollar.
2: The denominations of money in the currency of New Zealand shall be the dollar and the cent.
3: A cent is one-hundredth part of a dollar.
4: The equivalent in the currency provided for by this Act of 1 pound in the existing currency shall be 2 dollars, the like equivalent of 1 shilling shall be 10 cents, and the like equivalent of 1 penny shall be five-sixths of a cent. Currency Act 1963 s 8 (Aust)
6: Contracts, etc, to be made in decimal currency
Every sale, payment, bill of exchange, promissory note, and security for money, and every contract, agreement, deed, instrument, transaction, dealing, matter, and thing whatsoever relating to money or involving the payment of or a liability to pay any money, that is made, executed, entered into, or done in New Zealand shall be made, executed, entered into, or done according to the currency of New Zealand provided for by this Act, unless it is made, executed, entered into, or done according to the currency of a country other than New Zealand. 1933 No 12 s 7
7: Construction of references to existing currency, and method of conversion for purposes of payments
1: Subject to the provisions of this section—
a: every reference in any enactment passed or made before the commencement of this Part; and
b: every reference in any bill of exchange, promissory note, security for money, contract or agreement (whether the contract or agreement is in writing or not), deed, or instrument made, executed, or entered into before the commencement of this Part; and
c: every reference made before the commencement of this Part in any other manner whatsoever— to an amount of money in the existing currency shall, unless the context is such that it would be inappropriate, be construed as a reference to a corresponding amount of money in decimal currency, calculated on the basis of the equivalents specified in subsection (4) of section 5
2: Subject to subsection (3), where any such reference as aforesaid is to a percentage or other proportion expressed in terms of money, the reference shall be construed as a reference to an equivalent percentage or proportion expressed in terms of money in decimal currency.
3: Where any such reference as aforesaid is to an amount of pence, either alone or in addition to an amount of pounds or shillings, and it is necessary for the purpose of making a payment thereunder to ascertain the sum in decimal currency that corresponds to the sum that would have been required to make the payment in the existing currency, the following provisions shall apply:
a: the sum that would have been required to make the payment in the existing currency shall be ascertained in pounds, shillings, and pence:
b: that sum shall be converted into decimal currency on the basis of the equivalents specified in subsection (4) of section 5
4: In this section the term enactment
a: any Act of the Parliament of New Zealand; and
b: any Act of the Parliament of England or of the Parliament of Great Britain or of the Parliament of the United Kingdom, being an Act that is in force in New Zealand; and
c: any Ordinance of the Legislative Assembly of the Cook Islands or of the Niue Assembly
d: any Ordinance or other law in force in Tokelau
e: any regulation, rule, order, bylaw, or instrument made under the authority of or having effect by virtue of any such Act, Ordinance, bylaw, or other law as aforesaid, and in force in New Zealand or in any territory or part of a territory to which this Act extends by virtue of section 3 Currency Act 1963 ss 10, 11 (Aust) Section 7(4)(c) amended 19 October 1974 section 2(2)(d) Niue Amendment Act 1974 Section 7(4)(d) amended 9 December 1976 section 3(8) Tokelau Amendment Act 1976
8: Forms
Where any enactment, as defined in section 7 Currency Act 1963 s 12 (Aust)
3: Coinage and legal tender
Part 3 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989 Coinage Heading repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
9: Standard composition and weight of coins
Section 9 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
10: Minister may issue coins
Section 10 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
11: Advisory committees
Section 11 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
12: Coins may be called in
Section 12 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
13: Prohibition of other than official coins
Section 13 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989 Legal tender Heading repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
14: Legal tender
Section 14 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989 Repeals Heading repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
15: Repeals
Section 15 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
4: Arrangements for the introduction of the decimal currency system
Part 4 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989 Powers of Minister Heading repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
16: Powers of Minister
Section 16 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
17: Delegation to Decimal Currency Board
Section 17 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
18: Making and issue of coins
Section 18 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
19: Closing of banks
Section 19 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989 Decimal Currency Board Heading repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
20: Decimal Currency Board
Section 20 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
21: Constitution of Board
Section 21 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
22: Resignation of members
Section 22 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
23: Functions of Board
Section 23 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
24: Powers of Board
Section 24 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
25: Delegation by Board
Section 25 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
26: Board may appoint advisory and technical committees
Section 26 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
27: Contracts of Board
Section 27 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
28: Disclosure of interests in agreements, etc
Section 28 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
29: Meetings of Board
Section 29 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
30: Reports
Section 30 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
31: Remuneration and travelling expenses
Section 31 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
32: Secretary and other officers of Board
Section 32 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989 Finance Heading repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
33: Decimal Currency Account
Section 33 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
5: Regulations
Part 5 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989
34: Regulations
Section 34 repealed 1 February 1990 section 186(1) Reserve Bank of New Zealand Act 1989