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Now, therefore, We, by and with the advice of Our Privy Council, and by virtue of all powers vested in Us in that behalf, do hereby ordain that the law herein-after mentioned shall take effect in Our said Colony;

And the Lords Commissioners of Our Treasury, and the Right Honourable Lord Knutsford, one of Our Principal Secretaries of State, are to give the requisite directions for causing proclamations of the said law to be made in Our said Colony.

1.—(1) The silver Mexican dollar of the standard weight and millesimal fineness specified in Part I. of the first schedule to this Order shall be the standard coin of Our Colony of the Straits Settlements in this Order referred to as the Colony.

(2.) Every contract, sale, payment, bill, note, instrument, and security for money, and every transaction, dealing, matter, and thing whatever relating to money, or involving the payment of or the liability to pay any money, shall, in the absence of express agreement to the contrary, be held to be made, executed, entered into, done, and had in the Colony, according to the standard coin of the Colony.

(3.) The coins mentioned in Part II. of the first schedule to this Order shall bear such ratio to the standard coin as is mentioned in the first column of that schedule.

2. The tender of payment of money in the Colony, if made in the standard coin or in any coins specified in Part II. of the first schedule to this Order, shall, if such coins have not become diminished in weight by wear or otherwise, so as to be of less weight than the minimum weight mentioned in the said schedule, be a legal tender—

(a) In the case of dollars, and of half-dollars which have the same millesimal fineness as dollars, for the payment of any amount;

(b) in the case of the other silver silver coins for the payment of an amount not exceeding two dollars, but for no greater amount.

(c) in the case of coins of copper or mixed metal, for the payment of an amount not exceeding one dollar, but for no greater amount.

Provided that each coin, other than the standard coin, shall be a legal tender only for payment of such amount as accords with its ratio to the standard coin.

3. On the commencement of this Order the laws and regulations specified in the second schedule to this Order, and all other laws regulating legal tender in the Colony shall cease to be in force.

4. Nothing in this Order, nor any repeal of laws by this Order shall affect any liability incurred, contract made, or other thing done before the commencement of the Order.

5. In this Order—

The expression "Governor" means the Governor of the Colony, and includes the officer for the time being administering the government of the Colony.