(1) Currency notes issued by the Bank shall be legal tender at their face value.

(2) Coins issued by the Bank shall, if those coins have not been tampered with, be legal tender for payments up to an amount not exceeding

(a) five thousand cedis in the case of coins of denominations of one hundred, two hundred and five hundred cedis;

(b) one thousand cedis in the case of denominations of not less than twenty cedis; and

(c) one hundred cedis in the case of coins of denominations of less than twenty cedis.

(3) For the purposes of this Act, a coin shall be deemed to have been tampered with if the coin has been

(a) impaired, diminished or lightened otherwise than by fair wear and tear; or

(b) Defaced by stamping, engraving or piercing whether the coin has been thereby diminished, lightened, or not.

(4) The Bank may, on giving not less than three months’ notice in the Gazette, call in any of its currency notes and coins on payment of the face value; and the notes or coins with respect to which a notice has been given under this subsection shall, on the expiration of the notice, cease to be legal tender.