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Central Bank of Seychelles (Demonetisation of Notes) Order, 2018 (Statutory Instrument 9 of 2018)

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This is the latest version of this legislation commenced on 08 Feb 2018.

Seychelles

Central Bank of Seychelles Act, 2004

Central Bank of Seychelles (Demonetisation of Notes) Order, 2018

Statutory Instrument 9 of 2018

  • Assented to on 5 February 2021
  • Commenced on 8 February 2018

  • [This is the version of this document from 8 February 2018.]


In exercise of the powers conferred by section 23 of the Central Bank of Seychelles Act (Cap 26) the President hereby makes the following Order


1. Citation

This Order may be cited as the Central Bank of Seychelles (Demonetisation of Notes) Order, 2018.

2. Demonetisation

(1)The currency notes specified in the Schedule shall, with effect from 15th February, 2018 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 8th February, 2018 and ending on 14th February, 2018 to any bank or credit union in Seychelles; and
(b)at any time after 14th February, 2018 to the Central Bank of Seychelles,

and on surrender shall receive in exchange therefor an equal value of legal tender notes or coins, as the case may be, issued by the Central Bank of Seychelles.


Schedule

The currency notes issued under Government Notice No. 205 of 1998, through the Central Bank of Seychelles under section 20(3) of the repealed Central Bank of Seychelles Act, 1982.

Denomination Design Front Design Back Size
R50 Orchid Paille en Que bid Angel Fish Flightless White Throated Rails or Tiomitio Yellow Fin Tuna and Clock Tower 150x75mm
R25 Wrights Gardinia plant and Lion Fish Seychelles Blue Pigeon, Coconut Crab, Bi-Centenary Monument 150x75mm
R10 Coco-de-Mer Palm, Black Spotted Trigger Fish Hawksbill Turtle, Fairy Tems and Coco-de-Mer 150x75mm

MADE this 5th day of February, 2018.Danny FaurePresident