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This Law may be cited as the Euro Conversion Law, 1999.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Interpretation 2. In this Law, unless the context requires otherwise \u2014 \u201ceuro\u201d means the common currency of participating member states of the European Union that adopt a single currency in accordance with the Treaty; \u201cECU\u201d or \u201cEuropean Currency Unit\u201d means the currency basket that is from time to time used as the unit of account of the European Community as defined in European Council Regulation No. 3320\/94; \u201cintroduction of the euro\u201d includes the implementation from time to time of Economic and Monetary Union in member states of the European Union pursuant to the Treaty; and \u201cTreaty\u201d means the Treaty on European Union signed in Maastricht on 7th February, 1992. Euro Conversion Law, 1999 Law 4 of 1999\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Substituted Currency 3. (1) If a subject of, or medium of payment under, a contract, security or instrument is a currency that has been substituted or replaced by the euro, the euro may be either \u2014 (a) used in determining the value of that currency; or (b) tendered, in each case at the conversion rate specified in, or otherwise calculated in accordance with, the regulations adopted by the Council of the European Union. (2) If a subject of, or medium of payment under, a contract, security or instrument is the ECU, the euro may be either \u2014 (a) used in determining the value of the ECU; or (b) tendered, in each case at the conversion rate specified in, or otherwise calculated in accordance with, the regulations adopted by the Council of the European Union. (3) Payment under a contract, security or instrument specified in subsections (1) or (2) may be made in the currency originally designated in the contract, security or instrument, (so long as that currency remains legal tender), or in the euro, but not in any other currency.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Continuity of contract 4. Neither \u2014 (a) the introduction of the euro; (b) the tender of euros in connection with any obligation in compliance with section 3(1) or (2); (c) the determination of the value of any obligation in compliance with section 3(1) or (2); nor (d) the calculation or determination of the subject of, or medium of payment under, a contract, security or instrument in accordance with section 3, shall have the effect of discharging or abrogating a contract, security or instrument, or give a party to a contract, security or instrument the right unilaterally to alter or terminate that contract, security or instrument.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Application 5. (1) This Law shall not apply to a contract, security or instrument to the extent that the parties thereto have agreed arrangements that conflict with or are incompatible with any provision of this Law. Euro Conversion Law, 1999 Law 4 of 1999 (2) The agreement referred to in subsection (1) may be made in express anticipation of this Law or subsequent to the commencement of this Law.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"References to ECU 6. (1) A reference to \u201cECU\u201d in a contract, security or instrument which does not contain a definition of \u201cECU\u201d shall be presumed, to be a reference to the ECU as defined in European Council Regulation 3320\/94 unless a contrary intention of the parties to the contract, security or instrument, or in any legislative provision, administrative action, judicial decision, unilateral legal act or payment instruction is shown. 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and\n\u201cTreaty\u201d means the Treaty on European Union signed in Maastricht on 7th\nFebruary, 1992.\n\nSection 3\nEuro Conversion Law, 1999\n\nPage 6\nLaw 4 of 1999\nc\n\n3.\nSubstituted Currency\n3.\n(1) If a subject of, or medium of payment under, a contract, security or instrument\nis a currency that has been substituted or replaced by the euro, the euro may be\neither \u2014\n(a)\nused in determining the value of that currency; or\n(b) tendered,\nin each case at the conversion rate specified in, or otherwise calculated in\naccordance with, the regulations adopted by the Council of the European\nUnion.\n(2) If a subject of, or medium of payment under, a contract, security or instrument\nis the ECU, the euro may be either \u2014\n(a)\nused in determining the value of the ECU; or\n(b) tendered,\nin each case at the conversion rate specified in, or otherwise calculated in\naccordance with, the regulations adopted by the Council of the European\nUnion.\n(3) Payment under a contract, security or instrument specified in subsections (1)\nor (2) may be made in the currency originally designated in the contract,\nsecurity or instrument, (so long as that currency remains legal tender), or in the\neuro, but not in any other currency.\n4.\nContinuity of contract\n4.\nNeither \u2014\n(a)\nthe introduction of the euro;\n(b) the tender of euros in connection with any obligation in compliance with\nsection 3(1) or (2);\n(c)\nthe determination of the value of any obligation in compliance with\nsection 3(1) or (2); nor\n(d) the calculation or determination of the subject of, or medium of payment\nunder, a contract, security or instrument in accordance with section 3,\nshall have the effect of discharging or abrogating a contract, security or\ninstrument, or give a party to a contract, security or instrument the right\nunilaterally to alter or terminate that contract, security or instrument.\n5.\nApplication\n5.\n(1) This Law shall not apply to a contract, security or instrument to the extent that\nthe parties thereto have agreed arrangements that conflict with or are\nincompatible with any provision of this Law.\n\nEuro Conversion Law, 1999\nSection 6\n\nc\nLaw 4 of 1999\nPage 7\n\n(2) The agreement referred to in subsection (1) may be made in express\nanticipation of this Law or subsequent to the commencement of this Law.\n6.\nReferences to ECU\n6.\n(1) A reference to \u201cECU\u201d in a contract, security or instrument which does not\ncontain a definition of \u201cECU\u201d shall be presumed, to be a reference to the ECU\nas defined in European Council Regulation 3320\/94 unless a contrary\nintention of the parties to the contract, security or instrument, or in any\nlegislative provision, administrative action, judicial decision, unilateral legal\nact or payment instruction is shown.\n(2) On the introduction of the euro as the monetary unit of participating member\nstates of the European Union, a reference to the ECU in a contract, security, or\ninstrument or in any legislative provision, administrative action, judicial\ndecision, unilateral legal act or payment instruction that also refers or is\npresumed under this Law to refer to the definition of the ECU in section 2\nshall be replaced with a reference to the euro at a rate of one euro to one ECU.\n\nPassed by the Legislative Assembly the 14th day of April, 1999.\nMabry S Kirkconnell\nSpeaker.\nGeorgette Myrie\nClerk of the Legislative Assembly.","akn_extracted_at":"2026-06-22 15:32:46.632576+00","cms_id":"1999-0004","law_type":"principal","year":"1999","number":"4","title":"Euro Conversion Act","status":"in_force"},"provenance":{"files":[{"file_id":"5245","expr_id":"340","kind":"akn_xml","filename":"1999-0004_Act 4 of 1999.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/PRINCIPAL\/1999\/1999-0004\/1999-0004_Act 4 of 1999.akn.xml","content_md5":"a0d5e67a47153390225c491299a23d5d","byte_size":"7540","http_last_modified":null,"fetched_at":"2026-06-22 15:32:46.710948+00"},{"file_id":"679","expr_id":"340","kind":"pristine_pdf","filename":"1999-0004_Act 4 of 1999.pdf","source_url":"\/cms\/images\/LEGISLATION\/PRINCIPAL\/1999\/1999-0004\/1999-0004_Act 4 of 1999.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/PRINCIPAL\/1999\/1999-0004\/1999-0004_Act 4 of 1999.pdf","content_md5":"6b1d8441fcc4525a455e67f3d08796c9","byte_size":"340522","http_last_modified":null,"fetched_at":"2026-06-21 23:09:35.094949+00"},{"file_id":"680","expr_id":"340","kind":"working_pdf","filename":"1999-0004_Act 4 of 1999.pdf","source_url":"\/cms\/images\/LEGISLATION\/PRINCIPAL\/1999\/1999-0004\/1999-0004_Act 4 of 1999.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/PRINCIPAL\/1999\/1999-0004\/1999-0004_Act 4 of 1999.pdf","content_md5":"6b1d8441fcc4525a455e67f3d08796c9","byte_size":"340522","http_last_modified":null,"fetched_at":"2026-06-21 23:09:35.094949+00"}],"paragraph_count":4,"latest_history":null},"quality":{"expr_id":"340","doc_id":"340","quality_state":"needs_review","quality_score":"80","needs_human_review":"t","deterministic_categories":"{commencement_metadata_problem,duplicate_text,page_header_footer_noise}","llm_categories":"{commencement_metadata_problem,other}","repair_actions":"{collapse_duplicate_text,manual_review,strip_page_furniture,verify_commencement_metadata}","finding_severity_counts":"{\"low\": 1, \"medium\": 1}","finding_summary":"Metadata mismatch on commencement date and minor title discrepancy noted; 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