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Bermuda Monetary Authority (400th Anniversary of the Settlement of Bermuda Commemorative Coins) Regulations 2008

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Bermuda Monetary Authority (400th Anniversary of the Settlement of Bermuda Commemorative Coins) Regulations 2008
BERMUDA MONETARY AUTHORITY (400TH ANNIVERSARY
OF THE SETTLEMENT OF BERMUDA COMMEMORATIVE
COINS) REGULATIONS 2008


1





BR 78/2008

BERMUDA MONETARY AUTHORITY ACT 1969

1969 : 57

BERMUDA MONETARY AUTHORITY (400TH ANNIVERSARY
OF THE SETTLEMENT OF BERMUDA COMMEMORATIVE

COINS) REGULATIONS 2008


The Minister of Finance, in exercise of the powers conferred by
section 13 of the Bermuda Monetary Authority Act 1969, and on the
recommendation of the Bermuda Monetary Authority makes the
following Regulations:

Short title
1 These Regulations may be cited as the Bermuda Monetary
Authority (400th Anniversary of the Settlement of Bermuda
Commemorative Coins) Regulations 2008.

Issue of 400th Anniversary of the Settlement of Bermuda
Commemorative Coins
2 The Bermuda Monetary Authority (in these Regulations referred
to as "the Authority") may issue coins (in these Regulations referred to as
"400th Anniversary of the Settlement of Bermuda Commemorative
Coins").

Denomination
3 The denomination of the 400th Anniversary of the Settlement of
Bermuda Commemorative Coins shall be as follows—

(a) coin 1 – one ounce silver - $4;

BERMUDA MONETARY AUTHORITY (400TH ANNIVERSARY
OF THE SETTLEMENT OF BERMUDA COMMEMORATIVE
COINS) REGULATIONS 2008


2



(b) coin 2 – one-twentieth ounce gold - $4;

(c) coin 3 – one ounce gold - $40.

Form and design of coins
4 The form and design of the 400th Anniversary of the Settlement
of Bermuda Commemorative Coins shall be in accordance with the
sample coins deposited with the Authority and in particular —

(a) the obverse design of every coin shall be the portrait by
sculptor Ian Rank-Broadley of Her Majesty Queen
Elizabeth II in profile, and the circumferential lettering
with the inscriptions "BERMUDA", "ELIZABETH II" and
the respective year "2009";

(b) the reverse design of the coins shall depict a Brigantine
ship from the 1800’s and the circumferential lettering
with the inscriptions “1609 – 2009” and "400TH
ANNIVERSARY OF THE SETTLEMENT OF BERMUDA";

(c) the shape of every coin shall be square.

Standard weight and composition
5 The standard weight and composition of the 400th Anniversary
of the Settlement of Bermuda Commemorative Coins, and the amount of
tolerance and variation allowed therein, shall be as set out in the
Schedule.

SCHEDULE (regulation 5)



Remedy Allowance


Standard Standard



Coin Standard Weight Diameter Edge Weight Composition Diameter
Description Composition (grammes) (millimeters) (grammes) (millimeters)

one ounce silver .925 Ag 34gms 40mm milled -0+ 0.34g Silver 92.5% Ag +/-0.40mm

one-twentieth
ounce gold

.9999 Au 1.63gms 11mm milled +/-0.016g Gold 99.99%Au +/-0.11mm

one ounce gold .999 Au 33gms 30mm milled +/-0.33g Gold 99.99% Au +/-0.30mm



Made this 2nd day of December, 2008





Minister of Finance