Saturday, December 08, 2007

Paying for stuff with coins

So, at 6:30am this morning I find myself reading bill C-41 from 1997-98* when I came across the ammendments to Subsections 8(2) and (3) of the original act, which specifically state how large a payment can be made using coins:

(2) A payment in coins referred to in subsection (1) is a legal tender for no more than the following amounts for the following denominations of coins:


(a) forty dollars if the denomination is two dollars or greater but does not exceed ten dollars;

(b) twenty-five dollars if the denomination is one dollar;

(c) ten dollars if the denomination is ten cents or greater but less than one dollar;

(d) five dollars if the denomination is five cents; and

(e) twenty-five cents if the denomination is one cent.

(2.1) In the case of coins of a denomination greater than ten dollars, a payment referred to in subsection (1) may consist of not more than one coin, and the payment is a legal tender for no more than the value of a single coin of that denomination.

(3) For the purposes of subsections (2) and (2.1), where more than one amount is payable by one person to another on the same day under one or more obligations, the total of those amounts is deemed to be one amount due and payable on that day.

Nobody has to accept a payment in coins that exceeds the above amounts. So there.


* Why? Because the internet is a strange and wonderful place, and that's where this mornings surfing took me.

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