BERMUDA MONETARY AUTHORITY (400TH ANNIVERSARY OF THE SETTLEMENT OF BERMUDA COMMEMORATIVE COINS) REGULATIONS 2008

BR 78/2008

1969 : 57

BERMUDA MONETARY AUTHORITY (400TH ANNIVERSARY OF THE SETTLEMENT OF BERMUDA COMMEMORATIVE COINS) REGULATIONS 2008

The Minister of Finance, in exercise of the powers conferred by section 13 of the Bermuda Monetary Authority Act 1969, and on the recommendation of the Bermuda Monetary Authority makes the following Regulations:

Short title

1 These Regulations may be cited as the Bermuda Monetary Authority (400th Anniversary of the Settlement of Bermuda Commemorative Coins) Regulations 2008.

Issue of 400th Anniversary of the Settlement of Bermuda Commemorative Coins

2 The Bermuda Monetary Authority (in these Regulations referred to as "the Authority") may issue coins (in these Regulations referred to as "400th Anniversary of the Settlement of Bermuda Commemorative Coins").

Denomination

3 The denomination of the 400th Anniversary of the Settlement of Bermuda Commemorative Coins shall be as follows—

(a) coin 1 – one ounce silver - $4;

BERMUDA MONETARY AUTHORITY (400TH ANNIVERSARY OF THE SETTLEMENT OF BERMUDA COMMEMORATIVE COINS) REGULATIONS 2008

(b) coin 2 – one-twentieth ounce gold - $4;

(c) coin 3 – one ounce gold - $40.

Form and design of coins

4 The form and design of the 400th Anniversary of the Settlement of Bermuda Commemorative Coins shall be in accordance with the sample coins deposited with the Authority and in particular —

(a) the obverse design of every coin shall be the portrait by sculptor Ian Rank-Broadley of Her Majesty Queen Elizabeth II in profile, and the circumferential lettering with the inscriptions "BERMUDA", "ELIZABETH II" and the respective year "2009";

(b) the reverse design of the coins shall depict a Brigantine ship from the 1800’s and the circumferential lettering with the inscriptions “1609 – 2009” and "400TH ANNIVERSARY OF THE SETTLEMENT OF BERMUDA";

(c) the shape of every coin shall be square.

Standard weight and composition

5 The standard weight and composition of the 400th Anniversary of the Settlement of Bermuda Commemorative Coins, and the amount of tolerance and variation allowed therein, shall be as set out in the

Schedule — .

SCHEDULE (regulation 5)

Remedy Allowance

Standard Standard Coin Standard Weight Diameter Edge Weight Composition Diameter Description Composition (grammes) (millimeters) (grammes) (millimeters)

one ounce silver .925 Ag 34gms 40mm milled -0+ 0.34g Silver 92.5% Ag +/-0.40mm

one-twentieth .9999 Au 1.63gms 11mm milled +/-0.016g Gold 99.99%Au +/-0.11mm ounce gold

one ounce gold .999 Au 33gms 30mm milled +/-0.33g Gold 99.99% Au +/-0.30mm

Made this 2nd day of December, 2008

Minister of Finance