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(1)Section 3 of the [1870 c. 10.] Coinage Act 1870 (standard of coins) shall apply only to gold coins and to silver coins of the Queen's Maundy money and accordingly—
(a)in that section, after the word " Act " (where it first occurs) there shall be inserted the words " being gold coins or coins of silver of the Queen's Maundy money ", and for the words " silver or bronze " there shall be substituted the words " or any silver coin of the Queen's Maundy money "; and
(b)for the entries in Schedule 1 to that Act relating to silver and bronze coins there shall be substituted the entries relating to silver coins of the Queen's Maundy money set out in Schedule 3 to this Act (which reproduce the effect of the existing provisions as to the standard weight, standard fineness and remedy allowance for such silver coins contained in the said Schedule 1, as amended, and in section 6 of the [1946 c. 74.] Coinage Act 1946).
(2)Section 4 of the Coinage Act 1870 (legal tender) shall apply only to gold coins, and accordingly in that section the word " gold " shall be inserted after the words " if made in " , and the words " In the case of gold coins " and the words from " In the case of silver " onwards shall be omitted.
(3)Paragraph (4) of section 11 of the [1870 c. 10.] Coinage Act 1870 (power by proclamation to determine the weight below which a coin is not to be current) shall cease to have effect.
(4)In paragraph (9) of section 11 of the Coinage Act 1870 (application to British possessions) the reference to that Act shall include a reference to this Act.
(5)The powers exercisable by proclamation by virtue of section 11 of the Coinage Act 1870 shall include power to direct that cupro-nickel or silver coins Issued by the Mint before the appointed day in accordance with the Coinage Acts 1870 to 1946, being coins of any denomination specified in the proclamation, shall on and after such day (not earlier than the appointed day) as may be so specified be treated as coins of the new currency made by the Mint in accordance with section 2 of the [1967 c. 47.] Decimal Currency Act 1967 and as being of such denomination of that currency as may be so specified.
(6)In Schedule 1 to the Coinage Act 1870, the paragraph beginning " The weight and fineness of the coins specified in this Schedule" (which explains the origin of certain provisions in that Schedule but is of no legal effect) shall be omitted.
(7)In the case of cupro-nickel coins of the denomination of fifty new pence issued for use before the appointed day as current coins of the denomination of ten shillings by virtue of section 2(4) of the Decimal Currency Act 1967, section 1 of the [1946 c. 74.] Coinage Act 1946 (cupro-nickel coins to be legal tender for payments up to forty shillings) shall apply as if the reference to an amount not exceeding forty shillings were a reference to an amount not exceeding ten pounds.
(8)In section 4(1) of the Coinage Act 1946, for the words " under the power conferred by paragraph (c) of section three of this Act" there shall be substituted the words " by virtue of section 2(3) of the Decimal Currency Act 1967 ".
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