Coinage Act : PROCEDURE IN REGARD TO COIN CUT UNDER SECTION 16(A) Indian Bare Acts :

Coinage Act,1906

Act No : 3

Section : PROCEDURE IN REGARD TO COIN CUT UNDER SECTION 16(A)

SECTION 17: PROCEDURE IN REGARD TO COIN CUT UNDER SECTION 16(A)

A person cutting or breaking coin under the provisions of clause (a) of section 16-shall observe the following procedure, namely:-

(a) if the coin has been diminished in weight so as to be more than such percentage below standard weight as may be prescribed as the limit of reasonable wear, but not more than such further percentage as may be prescribed in this behalf, he shall either return the pieces to the person tendering the coin, or, if such person so requests, shall receive and pay for the coin at such rates as may be prescribed in this behalf; and

(b) if the coin has been diminished in weight so as to be more than such further percentage below standard weight so prescribed as aforesaid, he shall return the pieces to the person tendering the coin, who shall bear the loss caused by such cutting or breaking.