(1)For section 1 of the [1971 c. 34.] Coinage Act 1971 (which determines the standards of certain coins) there is substituted—
(1)The following provisions of this section have effect with respect to coins made at the Mint.
(2)Gold coins and coins of silver of the Queen's Maundy money shall, if of a denomination mentioned in Schedule 1 to this Act, be of the weight and fineness specified there, but in the making of the coins a remedy (that is, a variation from the standard weight and fineness so specified) shall be allowed of an amount not exceeding that specified in that Schedule.
(3)Gold coins and coins of silver of the Queen's Maundy money shall, if of any other denomination, be of such weight and fineness as may be specified in a proclamation under section 3 of this Act.
(4)Coins other than gold coins and coins of silver of the Queen's Maundy money shall be of such weight, composition, and dimensions as may be specified in a proclamation under that section.
(5)In the making of the coins to which subsections (3) and (4) above apply, such remedy shall be allowed as may be specified in the proclamation.
(6)The variation from the standard weight of any coin (other than a gold coin of a denomination mentioned in Schedule 1 to this Act) specified for that coin in accordance with this section shall be measured as the average of a sample of not more than one kilogram of that coin.
(7)In subsection (5) above " remedy " means—
(a)in relation to gold coins and coins of silver of the Queen's Maundy money, a variation from the standard weight and fineness specified in the proclamation of an amount not exceeding that so specified ;
(b)in relation to other coins, a variation from the standard weight, composition or dimensions so specified of an amount not exceeding that so specified.”.
(2)Part II of Schedule 1 to the Act of 1971 (standards for cupro-nickel and bronze coins) shall cease to have effect; but, until other standards are determined by proclamation under section 3 of that Act with respect to coins of any denomination mentioned in that Part, coins of that denomination shall continue to be circular and of the standards specified in that Part (subject to the remedy allowed).
(3)Section 2 of the Act of 1971 (extent to which coins are legal tender) is amended as follows—
(a)for subsection (1) there are substituted the following subsections—
“(1)Gold coins shall be legal tender for payment of any amount, but shall not be legal tender if their weight has become less than that specified in Schedule 1 to this Act, or in the proclamation under which they are made, as the least current weight
(1A)Subject to any provision made by proclamation under section 3 of this Act, coins of cupro-nickel, silver or bronze shall be legal tender as follows;—
(a)coins of cupro-nickel or silver of denominations of more than 10 pence, for payment of any amount not exceeding £10 ;
(b)coins of cupro-nickel or silver of denominations of not more than 10 pence, for payment of any amount not exceeding £5;
(c)coins of bronze, for payment of any amount not exceeding 20 pence.
(1B)Other coins, if made current by a proclamation under section 3 of this Act, shall be legal tender in accordance with the provision made by that proclamation or by any later proclamation made under that section.”;
(b)in subsection (2) for the words " subsection (1)" there are substituted the words " subsection (1A) " ; and
(c)after subsection (2) there is inserted the following subsection—
“(3)In this section " coins" means coins made by the Mint in accordance with this Act and not called in by proclamation under section 3 of this Act.”
(4)Section 3 of the Act of 1971 (power to regulate coinage by proclamation) is amended as follows—
(a)for paragraph (c) there is substituted—
“(c)determine the weight and fineness of any gold coins or coins of silver of the Queen's Maundy money, other than those of a denomination mentioned in Schedule 1 to this Act, the remedy to be allowed in making them and (for gold coins) their least current weight;
(cc)determine the weight and composition of any coins, other than gold coins or coins of silver of the Queen's Maundy money, and the remedy (if any) to be allowed, in making them ;
(cd)provide for the variation from the standard weight specified in Schedule 1 to this Act for a gold coin of a denomination mentioned in that Schedule to be measured in the manner specified in the proclamation ;”;
(b)in paragraph (d) the words from " other than " to the end are omitted;
(c)after paragraph (d) there is inserted—
“(dd)determine the percentage of impurities which coins other than gold coins and coins of silver of the Queen's Maundy money may contain ;”;
(d)in paragraph (f) the words from " and be legal tender " to the end are omitted ; and
(e)after paragraph (f) there is inserted—
“(ff)direct that any coin shall be legal tender for payment of any amount not exceeding such amount as may be specified in the proclamation or for payment of any amount (without limit);”;
(f)the section as so amended is renumbered so as to become subsection (1) and after that subsection there is inserted the following subsection—
“(2)So far as it relates to the matters mentioned in paragraph (ff) of subsection (1) above, a proclamation under this section may make different provision in relation to different parts of the United Kingdom.”
(5)Where provision is made by a proclamation under section 3 of the Act of 1971 as to the percentage of impurities which coins of a particular denomination may contain, any coin of that denomination made before the date of the proclamation shall be treated as if that provision had been in force when that coin was made.
(6)In section 6(2) of the Act of 1971 (standard trial plates), in the Table (which sets out descriptions of coins and the composition of plates), for the first entry there is substituted—
| Gold coins of a denomination mentioned in Schedule 1 to this Act. | Eleven-twelfths fine gold and one-twelfth alloy. |
| Other gold coins | Gold of the standard fineness specified in the proclamation under which the coins are made." |
(7)In section 12(2) of the Act of 1971 (interpretation of references to silver coin in enactments mentioned in Schedule 2 to that Act) for the words "section 3(c)" there are substituted the words " section 3(cc) " and after the words " not being coin of " there is inserted the word " gold, " .