Decimal Currency Act 1965

Subject to this section, a reference in a provision of an Act or statutory instrument (being an Act or instrument passed, made, issued, or granted before the appointed day) to an amount of money in the old currency shall be construed on and after that day as a reference to a corresponding amount of money in the new currency, calculated on the basis of the equivalents referred to in subsection (4) of section eight of the Commonwealth Act.

Where such a reference as is mentioned in subsection (1) of this section is to a percentage, rate, or proportion expressed in terms of money, the reference shall be construed as a reference to an equivalent percentage, rate, or proportion expressed in terms of money in the new currency.

Where such a reference as is mentioned in subsection (1) of this section occurs (whether in tabular form, columnar form, or otherwise) under or in relation to – all or any of the words "pounds", "shillings", and "pence" or other words of like import, that reference shall, on and after the appointed day, be construed as a reference to the word "dollars" or, as the case may require, to the words "dollars" and "cents" in combination with the appropriate number (if any) of dollars or of dollars and cents; or all or any of the symbols "£", "s", and "d" or other symbols of like import, that reference shall, on and after the appointed day, be construed as a reference to a symbol recognized as denoting the dollar, in combination with the appropriate number (if any) of dollars or, as the case may require, of dollars and cents.

Where in any provision of an Act or of a statutory instrument (being an Act or instrument passed, made, issued, or granted before the appointed day) it is provided that an amount shall be calculated to the nearest pound, or to the nearest shilling, or to the nearest sixpence, or to the nearest penny, that provision shall, on and after that day, be construed as providing that that amount shall be calculated – to the nearest dollar, in the case of a reference to the nearest pound; to the amount of ten cents or the nearest multiple of ten cents, in the case of a reference to the nearest shilling; to the amount of five cents, in the case of a reference to the nearest sixpence; and to the nearest cent, in the case of a reference to the nearest penny.

For the purposes of this section, a guinea is the sum of one pound and one shilling in denominations of money in the old currency.

Every – Act; and instrument – the construction of which is affected by any of the foregoing provisions of this section is, by force of this subsection, amended to such extent as may be necessary to give effect to those provisions.

This section does not – affect the operation of any specific amendment of a provision that is made by section three and Schedule 1 or Schedule 2, or section four and Schedule 3, or under the authority of section eleven or section twelve; or apply to or in relation to any Act that is specified in Part I of Schedule 4 or any provision that is specified in Part II of that schedule.