Singapore legislation
Clause 20
Clause 20
Demonetisation of currency notes and coins
(1)
The Board may declare by notification published in the Gazette the withdrawal of any particular issue or denomination of notes and coins issued by the Board.
(2)
Any such notification shall give holders of the notes and coins to be withdrawn a reasonable period in any event not less than six months within which such notes or coins shall be exchanged at their face value for other legal tender issued by the Board.