Malaysia legislation

Section 18

of CURRENCY ACT 2020

Section 18

(2)

For the purpose of subsection (1)—

(a)

a note, coin, token, document or instrument is likely to pass as legal tender, if the note, coin, token, document or instrument fulfills all of the following characteristics:

(i)

the note, coin, token, document or instrument is payable to a bearer or holder on demand or upon presentation;

(ii)

the note, coin, token, document or instrument is widely used in Malaysia for the purpose of payment to any person other than the issuer of such note, coin, token, document or instrument; and

(iii)

the note, coin, token, document or instrument has a value other than its intrinsic value;

(b)

“foreign currency” means any note, coin, token, document or instrument, whether tangible or intangible, which is legal tender in any country, territory or place outside

Malaysia and includes any right to receive such note, coin, token, document or instrument; and

(c)

“issue” means the act of making available for usage by any member of the public.

(3)

Any person who contravenes subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding fifty million ringgit or imprisonment for a term not exceeding ten years or to both.

Restriction on use of photograph, drawing or design of currency in publication, etc.