 bill no 34 of 1964 the indian coinage (amendment) bill, 1964a bnl further to amend the indian coinage act 1906 be it· enacted by parliament in the 'fifteenth year of the republic of india as follows:-1 (1) this act may be called the indian coinage (amendment) shorttitle act, 1964 and commence_ 5 (2)' it shall come into force on the 1st day of june, 1964 ment z in section 13 of the indian coinage act, 1906 (hereinafter re- amend-ferred to as the principal act), after sub-sect1lon (3), the following ment of sub-sectioo shall be inserted, namely:-section 13 10 c· (4) all new coins in the naya paisa series, designated as such under the notification of the government of india in the ministry of finance, department of economic mairs, no sro 1120, dated 11th may, 1956 which may have been issued under this act prior to the commencement of the· indian coinage (amendment) act, 1964, shall continue to be a legal tender in payment or on accountt,-is ! (a) in the case of a balf-rupee or fifty naye'pa!se coin, for any sum not exceedjng ten rupees; (b) in the case of any other co1n, for any sum not exceeding one rupee" 3 in section 14 of the principal act, after sub-section (3), the following sub-section shall be inserted, namely:-amendmentor section 14 s ,e (4) as from the commencemenlt of the indian coinage (amendment) act, 1964, all references in any enactment ~r in any notification, rule or order under any enactment or in any contract, deed or other instrument to any value in naya paisa or naye paise shall :be construed as references to that value expressed respectively in paisa or paise, being the new coins designated as such from tat day of june, 1964"  statement of objects and reasonswith the demonetisation of the anna-pie series of coins, it is proposed to drop the prefix 'naya' flrom the decimal coinage system of 'naya paisa' with effect from 1st june, 1964 the 'naya paisa' coins , will continue to be legal tender and will remain in circulation along with the new 'paisa' coins until they are called in this change in designation will necessitate consequential amendments in enactme;nts and notifications, rules or orders, issued thereunder or lin contracts, deeds, or other insttuments where references to any value may have been expressed in 'naya paisa' while the change in designation of the decimal coins from 'naya paisa' ,to 'paisa' will be brought about by means of a notiftcationto ·be issued by the central governmenjt under section 14(1) of the indian coinage act, 1906, the amendments proposed in the am are required to maintain the legal tender oharacter of the 'nay a paisa' coins and to provide for the consequential amendtpents t t krishnamachari new delhi; the 8th april, 1964 a bill! further to amend the indian coinage act, 1906, (shri t t krishnljrnachari, minister of fintl1lce) 