Issuing or reproducing “bank notes” and “coins”
The Reserve Bank’s guidelines:
Introduction:
The Reserve Bank of New Zealand Act, 1989, restricts the reproduction of bank notes and coins and the issue of "money-like products". Other legislation is also relevant, including the Crimes Act 1961 (governing counterfeiting and uttering), The Fair Trading Act 1986 (misleading conduct and false advertising) and the Securities Act 1978 (issuing debt securities).
The intention of the above legislation is to protect the integrity of New Zealand's money, allowing the public to have confidence in the value of the currency and limiting the risk that the public will be mislead by counterfeits or imitations of money.
Subject to users complying with the provisions of these Acts, however, the Reserve Bank has no objection to reproducing our notes and coins as complete on-screen or printed images, typically for design, educational or illustrative purposes, noting that for intellectual property reasons we cannot grant permission to reproduce detail parts of these designs, and in particular that:
- The ‘Pukaki’ image on the 20 cent coin is owned by Ngati Whakaue, used with permission by the Reserve Bank.
- The image of H.M. The Queen on the obverse of our coins is owned by The Crown.
Please read the following document carefully if you intend reproducing images of New Zealand’s currency.
Bank notes and coins – a definition:
A bank note or coin may be described as any physical document (or stamped piece of metal), that is, or is intended to be, used or circulated as a universal means of exchange between genuine purchasers and which is denominated into units of account (such as dollars).
Section 30 – Reproduction of bank notes and coins:
This section prohibits any person, without the prior consent of the Reserve Bank, from making, designing, engraving, printing, reproducing, using, issuing or publishing, any article or thing that resembles a bank note or coin or so nearly resembles or has such a likeness to a bank note or coin as to be likely to be confused with or mistaken for it.
Bank Notes
The section applies to all bank notes, not necessarily a New Zealand bank note.
The reproduction of all or part of a New Zealand bank note shall be authorised in the following cases*:
- For photographs, drawings, paintings, films and generally for any type of image in which the focus is not the bank notes or reproductions themselves and which do not provide a close-up view of the bank note designs;
- For one-sided reproductions, provided these are more than 125% or less than 75% of both the length and width of the respective bank note, irrespective of the material used for the reproduction.
Coins
The section applies to all coins, not necessarily a New Zealand coin.
The reproduction of all or part of a New Zealand coin shall be authorised in the following cases*:
- For photographs, drawings, paintings, films and generally for any type of image in which the focus is not the coins or reproductions themselves and which do not provide a close-up view of the coin designs;
- For one-sided reproductions, provided these are more than 125% or less than 75% of the diameter of the respective coin. Any materials used for the reproduction must not be metal OR metallic like.
* Note that this consent only applies to the exact reproduction of a New Zealand coin or bank note. If it is desired to make changes in the reproduction to the design features of a New Zealand coin or bank note then the consent of the Reserve Bank is necessary under section 30. The Reserve Bank has no power to consent to the use of any design features of New Zealand legal tender in the manufacture or issue of a coin or bank note that is not a reproduction of an actual coin or bank note (see section 29 below).
Advertisers, publishers, and others wishing to reproduce New Zealand coins or bank notes which do not comply with the above criteria should contact the Reserve Bank before taking steps to reproduce such bank notes or coins. Please send your request in writing to the Cash Operations section of the Reserve Bank, PO Box 2498, Wellington, 6015 or fax (+64-4-471-2341). The particular use or purpose of any reproduction will be an important factor in determining whether that reproduction is likely to be offensive.
NOTE: The Reserve Bank of New Zealand does not provide oral consent under any circumstances
Section 29 – Making or issuing of bank notes or coins:
This section prohibits any person making or issuing any bank note or coin, other than a bank note or coin issued under this Act.
The purpose of this section is to prevent the manufacture or issue of any item, which may be exchanged as currency in place of legal tender notes and coins issued by the Reserve Bank.
The Reserve Bank does not have power to consent to any issue of a bank note or coin under this section. By providing the above advice on the typical characteristics of bank notes and coins, the Reserve Bank is not giving any assurance that bank notes or coins without such characteristics would comply with section 29.
It is recommended that any person or organisation that intends to make or issue instruments that may have the characteristics of a bank note or coin and who are not sure of the relevant legal position, should seek legal advice.
Penalties:
For an offence under section 30, a court can order the destruction of the reproduction itself or any copy of it or anything involved in the reproduction process.
For an offence under section 29, an individual is liable for up to 3 years’ imprisonment or a fine of up to NZ$100,000, and a body corporate is liable for a fine of up to NZ$300,000.
Reserve Bank of New Zealand
August 2003
