2.01 Chiefly in the course of the nineteenth century, almost all States enacted legislation with a view to organizing their respective currencies. This led to the creation of national monetary systems as they are familiar to the modern world. 2.02 In relation to the monetary system as a concept, the relevant laws all define the unit of account by reference to its name and any applicable subdivisions of the unit.1 In relation to physical money, the applicable national law will lay down rules on legal tender,2 the technical specifications for notes and coins...
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