Australian pound became $1 and 1s became 10c. The conversion rate was problematic for the pre-decimal penny since the shilling was divided into twelve pence. An exchange rate of $2.40:£1 would have allowed for accurate conversion down to the penny, with one penny becoming one cent; however, the Government thought it more important that the new currency unit be more valuable than the United States dollar which it would not have been under a 2.4:1 ratio. Amounts less than a shilling were converted as follows: In 1855, gold full and half sovereigns (worth respectively one pound sterling and ten shillings) were first
Television licensing in the United Kingdom is £145.50 for colour TV and £49 for monochrome TV, per household. The radio-only licence was abolished on 1 February 1971, when it was £1.25 (actually £1-5s-0d in pre-decimal UK currency) or the equivalent of £ in prices. On 1 April 1991, the BBC took over the administration of television licensing in the UK, assuming the responsibility of licence fee collection and enforcement. Since this date, the BBC has been the statutory authority for issuing television licences (before April 1991, the statutory authority was the UK Home Office), although the UK Government retains certain powers and responsibilities with regards to