Section 27 Meaning of “currency note” and “protected coin”.

In this Part of this Act—

• “currency note” means—

  1. (a)

     any note which—

     1. (i)

        has been lawfully issued in England and Wales, Scotland, Northern Ireland, any of the Channel Islands, the Isle of Man or the Republic of Ireland; and

     2. (ii)

        is or has been customarily used as money in the country where it was issued; and

     3. (iii)

        is payable on demand; or

  2. (b)

     any note which—

     1. (i)

        has been lawfully issued in some country other than those mentioned in paragraph (a)(i) above; and

     2. (ii)

        is customarily used as money in that country; and

• “protected coin” means any coin which—

  1. (a)

     is customarily used as money in any country; or

  2. (b)

     is specified in an order made by the Treasury for the purposes of this Part of this Act.

The power to make any order conferred on the Treasury by subsection (1) above shall be exercisable by statutory instrument.

A statutory instrument containing such an order shall be laid before Parliament after being made.