Legal tender de France. Anyone refusing such monies for their whole value would be prosecuted (French Penal Code art. R. 642-3). According to the "Economic and Monetary Union Act, 1998" of the Republic of Ireland which replaced the legal tender provisions that had been re-enacted in Irish legislation from previous British enactments, "No person, other than the Central Bank of Ireland and such persons as may be designated by the Minister by order, shall be obliged to accept more than 50 coins denominated in euro or in cent in any single transaction." The "Decimal Currency Act, 1970" governed legal tender prior to
Legal tender banks authorised to issue bank notes must redeem them on demand for gold (the gold standard). In 1933, the Coinage Act created a specific New Zealand coinage and removed legal tender status from British coins. In the same year the Reserve Bank of New Zealand was established. The bank was given a monopoly on the issue of legal tender. The Reserve Bank also provided a mechanism through which the other issuers of legal tender could phase out their bank notes. These banknotes were convertible into British legal tender on demand at the Reserve Bank and remained so until the 1938