Decree-Law no. 7/95/M
Considering the need to equip the legal system of Macao of an instrument that, in a general and abstract set of monetary system;
In these terms;
Obtained the opinion of the Monetary and Exchange Authority of Macau;
Hearing the Consultative Council;
The Governor decrees, pursuant. 1 of article 13. Organic Statute of Macau, as law in Macau, the following:
Article 1. º
This law establishes the general bases of monetary emission in Macau.
Article 2. º
1. The legal tender in Macau consists of banknotes and coins.
2nd. The coins include coins in current use, the specially designed commemorative and collector coins to.
3rd. The expression coins in current use those intended to ensure the needs of circulation and facilitate the subsidiary shillings.
4th. Commemorative coins contain engravings related to personalities, facts, or ephemerides themes allude to that aim.
5th. The coins specially designed collector coins contain the distinctive features that the numismatic value as specimens.
Article 3. º
(Course legal and discharging)
1. The currency issued and circulated in accordance with the provisions of this Ordinance as worth money in the Territory and must necessarily be accepted as such by the respective operators, without prejudice to the following paragraph.
2nd. No one may be compelled to receive any payment, coins in number over a hundred units, regardless of the face value of the units concerned.
3rd. Commemorative coins and collector coins specially designed to be used as means of payment, with their compulsory acceptance at face value.
4th. The currencies referred to in the preceding paragraph may be traded by value higher than face value.
Article 4. º
1. The legal tender in Macau pataca is abbreviated to MOP.
2nd. Notwithstanding any law or regulation to the contrary, the use is permitted as a means of payment in legal tender in other countries or territories.
Article 5. º
(Privilege and responsibility issue)
1. The privilege of issuing money belongs to the territory of Macau.
2nd. Subject to the following paragraphs, the Territory has the exclusive right to issue notes and coins are legal tender.
3rd. The Territory may, however, procuring the privilege of issuing notes to banks authorized to conduct its business in Macau.
4th. Commemorative coins and especially of collector coins are issued by the Monetary and Exchange Authority of Macau, abbreviated to AMCM, in accordance with its statute.
Article 6. º
(Creation of Currency)
1. The legal tender is established by ordinance.
2nd. In the act referred to in the preceding paragraph are defined types, and quantitative characteristics of notes and coins.
3rd. The notes indicate its value in figures and words, in Portuguese and Chinese, the number and date of the statute that created and contain the signature, a stamp, one or two representatives of the issuing entity in office at the date issuance.
4th. The coins contain the caption "Macao" in Portuguese and Chinese, their value, by numbers, and their unity, in full, the same two languages.
Article 7. º
1. Considered to be the outstanding notes that, by the Territory or by issuers in performing functions agencied, are delivered to third parties and these remain in power, without prejudice to n. 1 of article 10. º
2nd. The responsibility of the Territory or entities agencied to issue restricted to the notes in circulation, without prejudice to n. 2 of Article 10. º
Article 8. º
(Coins in circulation)
1. The coins in current use are put into circulation by the Territory, directly or through other entities.
2nd. Commemorative coins and especially of collector coins are put into circulation by the AMCM, which ensures its marketing.
Article 9. º
(Withdrawal of money from circulation)
The coin is legal tender recalled by ordinance.
Article 10. º
(Exchange of notes)
1. The Territory, by themselves or through entities agencied to issue fixed and publicly announced, by notice published in the Official Gazette, the period in which the notes are to be exchanged for any type or plate that will be withdrawn from circulation.
2nd. After the deadline set under the preceding paragraph, the notes cease to be legal tender and are slaughtered movement persisted, however, to the entity responsible for the issue, the obligation to receive and pay elapse until five years from the date of publication of the notice in the Official Gazette.
3rd. At the expiry of five years provided in the preceding paragraph, to cease issuing the payment obligation, reverting to the Territory the importance of the notes that have not been submitted for reimbursement.
Article 11. º
(Exchange of coins)
1. The Territory fixed and publicly announced, by notice published in the Official Gazette, the date of withdrawal of money circulation in current use, the date on which it ceases to be legal tender.
2nd. In the absence of longer-term fixation of the notice, one year after the expiry of the period referred to above, continues to the entity responsible for the issuance of coins required to pay submitted to him.
3rd. At the expiry of the preceding paragraph, the current use coins no longer have monetary value as a species may, however, be used for numismatic purposes, decorative or industrial.
4th. Commemorative coins and numismatic purposes designed to maintain indefinitely the discharging power at face value.
Article 12. º
1. The notes are exchanged or redeemed deteriorated since its genuineness is recognized by those who issued them.
2nd. The valuation criteria applicable to the notes decayed and the process for its replacement or refund is defined by the entity that issues them.
3rd. Notwithstanding the preceding paragraphs, is allowed to refuse notes or damaged entries not genuine as payment.
Article 13. º
1. Should be denied receiving any monetary form, as payment or deposit, for which there is founded suspicion of forgery.
2nd. Any public or private entity, since in the latter case, is subject to the supervisory power of the AMCM has the duty to apprehend any suspected counterfeit currency that will be presented, as well as take note of the particulars of the respective holder.
3rd. The seized currency is delivered to the Judicial Police as soon as possible, for investigation and possible prosecution.
Article 14. º
1. Subject to the applicable penal provisions constitute a misdemeanor, with a fine of sanctioning 5 000.00 to 50 000.00 patacas, the following acts:
a) A violation of paragraph. 2 of the previous article;
b) deterioration or willful destruction and unauthorized legal tender;
c) The inscription of letters, numbers, symbols or designs of any kind in the notes or coins as legal tender;
d) The destruction, unauthorized, of coins legal tender, with a view to their industrial use;
e) The reproduction, unauthorized, of legal tender.
2nd. Notwithstanding the provisions in paragraph e) above, in duly justified circumstances, including for advertising and educational purposes, the Territory may authorize the reproduction or imitation of a coin.
3rd. AMCM shall process the misdemeanors provided for in this article, the application of the corresponding fines and seizure of reproductions, imitations, plates, dies and other technical means used improperly, without prejudice to the powers of the judicial authorities.
Article 15. º
The provisions of the two preceding Articles shall apply to acts committed on the territory of Macau in respect of legal tender in other countries and territories.
Article 16. º
(Coverage of the monetary issue)
1. The monetary emission must lie always covered by the existence of external assets.
2nd. Against notes put into circulation, the responsible entities should deliver it to the Territory, or its designee, the equivalent in convertible currency, and in return received their certificates of debt.
3rd. The consideration referred to in the preceding part of the reserve currency of the Territory, whose administration is for the AMCM under its statute.
Approved on January 26, 1995.
To be published.
The Governor Vasco Rocha Vieira.