AI-assisted research summary: Courts or Government officials may accept payment in other currencies when money is owed to the Crown, if the currency is freely circulating in the Territory and acceptable to them.
BRITISH INDIAN OCEAN TERRITORY REVISED ORDINANCES OF THE BRITISH INDIAN OCEAN TERRITORY THE CURRENCY ORDINANCE 1981 CHAPTER G.4 Revised Edition Showing the law as at 1 September 2020 Published by Authority REVISED ORDINANCES OF THE BRITISH INDIAN OCEAN TERRITORY THE CURRENCY ORDINANCE 1981 CHAPTER G.4 Revised Edition Showing the law as at 1 September 2020 This is a revised edition of the law, prepared by the Law Revision Commissioner under the authority of the Law Revision Ordinance 2015 and contains a consolidation of the following laws: The Currency Ordinance 1981 - Ordinance No.11 of 1981 As amended by: Ordinance No.4 of 1983 The following revised notice has been issued in pursuance of this Ordinance: The Currency Conversion Notice 1989 RRBIOT, c.G.1 ã British Indian Ocean Territory Administration All rights reserved. No part of this publication may be reproduced in any form or by any means (including photocopying or copying in electronic format) without the written permission of the Commissioner of the British Indian Ocean Territory, or otherwise as permitted under the terms of a licence from the British Indian Ocean Territory Administration. 2 REVISED ORDINANCES OF THE BRITISH INDIAN OCEAN TERRITORY THE CURRENCY ORDINANCE 1981 CHAPTER G.4 ARRANGEMENT OF SECTIONS Section Page 1. Citation. 4 2. British sterling notes and coins to be current. 4 3. Money transactions may be entered into in sterling. 4 4. Deleted on revision. 4 5. Crown may accept payment in other currencies. 4 3 REVISED ORDINANCES OF THE BRITISH INDIAN OCEAN TERRITORY THE CURRENCY ORDINANCE 1981 CHAPTER G.4 An Ordinance to make British sterling money lawful currency in the British Indian Ocean Territory and to provide for matters incidental thereto and connected therewith. Citation. 1. This Ordinance may be cited as the Currency Ordinance 1981, ROBIOT c.G.4. British sterling notes and coins to be current. 2. British sterling notes and coins of the denominations, designs and specifications in circulation from time to time as lawful currency in the United Kingdom shall be lawful currency in the Territory. Money transactions may be entered into in sterling. 3. All transactions relating to money or involving or implying the payment of money or the liability to pay money which shall be entered into in the Territory may be entered into in or in relation to British sterling money; and all such transactions entered into in or in relation to such sterling money shall be deemed to be according to the sterling value of the various notes and coins in circulation in the United Kingdom at the time of entering into the transaction in question, unless it be proved to be the intention of the parties to the transaction to apply a different value. Deleted on revision. 4. Deleted on revision. Crown may accept payment in other currencies. 5. (1) Despite the provisions of this Ordinance or any other enactment, whenever any sum of money is payable to the Crown under an enactment or by order of a court, whether by way of taxes, duties, fees, penalty, costs or otherwise, the court or the Government official to whom payment falls to be made may accept payment of the equivalent sum of money in any other currency freely circulating in the Territory and acceptable to the court or official. 4 (2) Where, pursuant to subsection (1) of this section any payment to a court or Government official is to be made in United States dollars the sum so payable shall be calculated in accordance with the rate of exchange applicable at the time of payment under any Order made by the Commissioner. _______________ 5 6