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Central Bank of Seychelles (Demonetisation of Notes) Order, 2017 (Statutory Instrument 7 of 2017)

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This is the latest version of this legislation commenced on 15 Feb 2017.

Seychelles

Central Bank of Seychelles Act, 2004

Central Bank of Seychelles (Demonetisation of Notes) Order, 2017

Statutory Instrument 7 of 2017

  • Assented to on 10 February 2017
  • Commenced on 15 February 2017

  • [This is the version of this document from 15 February 2017.]


In exercise of the powers conferred by section 23 of the Central Bank of Seychelles Act, 2004 the President hereby makes the following Order—


1. Citation

This Order may be cited as the Central Bank of Seychelles (Demonetisation of Notes) Order, 2017.

2. Demonetisation

(1)The currency notes specified in the Schedule shall, with effect from 30th June, 2017 cease to be legal tender in Seychelles.
(2)Any person in possession of currency notes referred to in paragraph (1) may surrender the currency notes—
(a)during the period commencing on 15th February, 2017 and ending on 29th June, 2017 to any bank or credit union in Seychelles; and
(b)at any time after 29th June, 2017 to the Central Bank of Seychelles,

and on surrender shall receive in exchange therefor an equal amount of legal tender notes issued by the Central Bank of Seychelles.


Schedule

The currency note issued under Government Notice No. 205 of 1998 and Government Notice No. 335 of 2005, through the Central Bank of Seychelles under section 20(3) of the repealed Central Bank of Seychelles Act (Cap 26) and section 21(3) of the Central Bank of Seychelles Act, 2004 respectively—

Denomination Design Front Design Back Size
R100 Pitcher Plant and Vielle Babone Cecile Giant Land Tortoise and Bridled Tern 150 x 75 mm
R500 Coco-de-mer Palm Seychelles Scops Owl (Syer) 150 x 75 mm

MADE this 10th day of February, 2017.Danny FaurePresident