Public Instruction Number 01/2004: On the Issuance and use of Coins in Timor-Leste

Banking and Payments Authority of East Timor Autoridade Bancária e de Pagamentos de Timor Leste PUBLIC INSTRUCTION NUMBER 01/2004 CONCERNING THE ISSUANCE AND USE OF COINS IN TIMOR-LESTE THE GOVERNING BOARD OF THE BANKING AND PAYMENTS AUTHORITY Pursuant to:
a. The provisions of Section 6(b) of UNTAET Regulation 2001/30 giving the BPA authority to issue Centavos coins, including a determination of their denominations and designs; b. The provisions of Section 50.2 of the same Regulation establishing the rights and conditions of the BPA to issue Centavos, including their relationship with United States coins, and the power of the BPA to determine the face value and features of the Centavos coins;
c. The provisions of Section 17(b) and Section 62.2 of the same Regulation that
give BPA the authority to issue Instructions; d. Section 165 of the Constitution of the Democratic Republic of Timor-Leste concerning the continued applicability of laws in force at the date of the adoption of the Constitution; e. The provisions of Article 2.3 of Decree-Law Number 20/2003 giving the power to the BPA to limit the amount that may be paid in a single act by coins or small denomination banknotes f. The powers conferred on the BPA in Article 13 of Decree-Law Number 20/2003 to issue Instructions to implement the provisions of the said Decree￾Law relating to the issuance of Centavos; Taking into Account:
a. The need for the designs and features of the Centavos coins to be properly determined in law; b. The benefits of avoiding large transactions being settled in United States and Centavos coins; For the Purpose of Providing legal certainty concerning the features of the Centavos coins, and regulating the use of coins for the settlement of transactions up to certain limits; HEREBY RESOLVES TO ADOPT THE FOLLOWING

PUBLIC INSTRUCTION NO. 01/2004 (UNOFFICIAL ENGLISH TRANSLATION) PAGE 2 PUBLIC INSTRUCTION No 01/2004 CONCERNING THE ISSUANCE AND USE OF COINS IN TIMOR-LESTE
Article 1
Definitions
(a) “Centavo” means the same as defined in UNTAET Regulation 2001/30 and Decree-Law No 20/2003. (b) “Official currency” means the same as the definition of “official currency of Timor-Leste” in Decree-Law No 20/2003. (c) “Cents” means the coins of the official currency of the United States.
Article 2
Denominations
2.1 Centavos coins shall be issued by the Banking and Payments Authority of Timor￾Leste in the following denominations:
(a) One centavo, having the same value as 100 1 (one hundredth) of one United States dollar; (b) Five centavos, the same value as 20 1 (one twentieth) of one United States dollar; (c) Ten centavos, having the same value as 10 1 (one tenth) of one United States dollar; (d) Twenty-five centavos, having the same value as ¼ (one quarter) of one United States dollar; (e) Fifty centavos, having the same value as ½ (one half) of one United States dollar
2.2 All centavos coins issued, or deemed to be issued, by the Banking and Payments
Authority shall be legal tender in Timor-Leste with a value equal to the denomination expressed on the coin.
Article 3
Designs and Specifications
3.1 Centavos coins shall be minted with a common (obverse) face containing the
following elements:

PUBLIC INSTRUCTION NO. 01/2004 (UNOFFICIAL ENGLISH TRANSLATION) PAGE 3 (a) A border design based on a traditional tais pattern representing crocodiles; (b) The denomination of the coin in numerals; (c) The word “centavo” or “centavos”; (d) A representation of a kaibauk, below the denomination.
3.2 Centavos coins shall be minted with a variable (reverse) face containing the following
elements:
(a) The words “República Democrática de Timor-Leste” forming the upper border; (b) The year of the coin’s emission forming the lower border; (c) A pictorial design, unique to each denomination, as follows:
1 Centavo: Nautilus shell
5 Centavos: Rice plant
10 Centavos: Fighting Rooster
25 Centavos: Traditional fishing boat (beiro) 50 Centavos: Coffee beans on branch
3.3 Centavos coins shall be minted according to the following physical specifications:
Denomination Diameter Thickness Metal Weight 1 centavo 17mm 2.15mm Nickel coated steel 3.1g 5 centavos 18.75mm 2.15mm Nickel coated steel 4.1g 10 centavos 20.75mm 2.15mm Nickel coated steel 5.2g 25 centavos 21.25mm 2.3mm Nickel-brass alloy 5.85g 50 centavos 25mm 1.9mm Nickel-brass alloy 6.5g
Article 4
Limitation on Value of Coins as Legal Tender
4.1 A tender of payment of coins, to the extent that it is made in centavos coins issued
or deemed to be issued by the Banking and Payments Authority of Timor-Leste shall be legal tender:
(a) In the case of coins of denominations of Twenty-five (25) or Fifty (50) centavos, for the payment of an amount not exceeding $10 (ten United States dollars) (b) In the case of coins of a denomination of one (1), five (5) or ten (10) centavos, for the payment of an amount not exceeding $2 (two United States dollars)
4.2 A tender of payment of coins, to the extent that it is made in coins issued or
deemed to be issued by the United States shall be legal tender:
(a) In the case of coins of a denomination of Twenty-five (25) cents or more, for the payment of an amount not exceeding $10 (ten United States dollars) (b) In the case of coins of a denomination of one (1) cent, five (5) cents or ten (10) cents, for the payment of an amount not exceeding $2 (two United States dollars)

PUBLIC INSTRUCTION NO. 01/2004 (UNOFFICIAL ENGLISH TRANSLATION) PAGE 4
4.2 Coins that have been called in by the Banking and Payments Authority shall not be
legal tender.
Article 5
Miscellaneous Provisions
5.1 For the purpose of informing the public of the intentions of the Banking and
Payments Authority, this Public Instruction shall be published in the Jornal da República.
5.2 This Public Instruction shall enter into force on the day following its publication.
Signed at Dili this 7th day of May 2004
Luis Quintaneiro
Chairman of the Governing Board of the Banking and Payments Authority The above Public Instruction was published in the Jornal da República Series II, No. 6, Friday 11 June 2004 This English translation is provided for informational purposes only, and matters of interpretation should be made with reference to the original in the Portuguese language.