BERMUDA MONETARY AUTHORITY (CURRENCY FORMS & DESIGNS ETC.) VALIDATION ACT 2000

BERMUDA

2000 : 26

BERMUDA MONETARY AUTHORITY (CURRENCY FORMS & DESIGNS, ETC.) VALIDATION ACT 2000

[Date of Assent 25 July 2000]

[Operative Date 25 July 2000]

WHEREAS the Bermuda Monetary Authority issued currency notes in a form other than a form prescribed by the Minister as required under section 13 of the Bermuda Monetary Authority Act 1969: AND WHEREAS it is expedient to validate such currency notes: Be it enacted by The Queen's Most Excellent Majesty, by and with the advice and consent of the Senate and the House of Assembly of Bermuda, and by the authority of the same, as follows:

Short title

1 This Act may be cited as the Bermuda Monetary Authority (Currency Forms & Designs, Etc.) Validation Act 2000.

Interpretation

2 In this Act— "Minister" means the Minister of Finance;

BERMUDA MONETARY AUTHORITY (CURRENCY FORMS & DESIGNS ETC.) VALIDATION ACT 2000

"currency note" means a currency note other than a currency note issued under the 1988 Regulations, the 1992 Regulations or the 2000 Regulations; "the 1988 Regulations" means the Bermuda Monetary Authority (Currency Forms and Designs, Etc.) Regulations 1988; "the 1992 Regulations" means the Bermuda Monetary Authority (Currency Forms and Designs, Etc.) Regulations 1992; "the 2000 Regulations" means the Bermuda Monetary Authority (Currency Forms and Designs, Etc.) Regulations 2000.

Validation

3 Every currency note issued—

(a) by the Bermuda Monetary Authority before the commencement of this Act; and

(b) in a form other than a form prescribed by the Minister under section 13 of the Bermuda Monetary Authority Act 1969, shall, on the commencement of this Act, be deemed to have been issued in a form prescribed by the Minister under that section and accordingly shall be valid and effectual; and no action, suit or proceeding shall be brought against the Bermuda Monetary Authority or the Minister by reason only of such issue.