The Authority's Policy
For the purposes of complying with the provisions under the Monetary Authority Law which empowers the Authority to arrange for the printing of currency notes and the minting of coins, the Authority’s policy restricts reproductions of its notes because it needs to ensure that reproductions cannot be used to defraud the public in contemplation of the context in which its notes are reproduced, especially if the Queen’s portrait is distorted or shown in offensive surroundings. Accordingly, the reproduction of notes requires the written consent of the Monetary Authority, and whoever without lawful authority or excuse, the proof of which is on him, makes, uses or knowingly has in his custody or possession any paper or implements of forgery is guilty of an offence contrary to Section 286(2) and 303(a) of the Penal Code.
The Authority also owns the copyright on its notes and as such any person who forges any currency note is guilty of an offence contrary to Section 286(2) of the Penal Code and liable to imprisonment for life in addition to which a forfeiture order may be made. Any encroachment on the copyrights may also result in civil liability.
Advertisers, publishers, and others wishing to reproduce Cayman Islands’ Monetary Authority notes should, before taking steps to reproduce such notes, get in touch with the Monetary Authority office (345-949-7089) to discuss their proposals (but see paragraph 5 and 6 below).
The Authority does not allow reproductions of its notes on articles for sale (which includes but is not limited to items such as mugs, ashtrays, tea towels, etc.)
For advertisements and promotions which incorporates reproductions of notes, the Authority’s permission is necessary and designs are normally expected to meet the following criteria:-
(i) Reproductions of notes, whether in black and white or colour, must not be the same size as actual notes. If they are smaller they can be up to half as long and half as wide. If they are to be larger, they must be at least twice as long and twice as wide. Reproductions of parts of notes must be in the same proportions.
(ii) As an additional protection against misuse, notes should be shown on the slant and not flat to camera. They should also form part of a larger pictorial design.
Designs incorporating reproductions of notes for educational purposes including but not limited to, educational books and training manuals, which must also be approved by the Authority, should satisfy the same size criteria as those for advertisements but may be shown flat to the camera provided that they have the word “specimen” in solid black capitals across the
These criteria do not apply to reproductions of notes for educational purposes on film and television; such reproductions may be made without specific application being made to the Authority. If it is proposed to include reproductions in a film or television advertisement, the Authority must be consulted, as its permission is required.
The Authority's Policy
The Authority does not permit physical reproductions of its coins in metal or other material because it needs to ensure that reproductions cannot be used to defraud the public. The Authority is also concerned about the context in which its coins are photographically reproduced, especially if the Queen’s portrait is distorted or shown in offensive surroundings.
Section 300 of the Penal Code defines “Counterfeit Coin” as any coin not genuine but resembling or apparently intended to resemble or pass for a genuine coin and includes any genuine coin prepared or altered so as to pass for coin another denomination.
Accordingly, whoever without lawful authority or excuse, the proof which is on him, makes or begins to make any counterfeit coin is guilty of an offense under Section 301 of the Penal Code and is liable to imprisonment for ten years.
The Authority does not prohibit the use of its coins in articles for sale, if and only if, the coins or the appearance of the coins are not changed/altered (e.g. dipping of coins in gold, making holes in the coins, etc) in any way.
IN ACCODRANCE WITH SECTION 31 OF THE MONETARY AUTHORITY LAW:
Whoever, without lawful authority or excuse (the proof whereof shall be on the person accused), defaces, mutilates or perforates any currency note or coin which, under this Law, is made legal tender in the Islands is guilty of an offence and liable on summary conviction to a fine of one thousand dollars and to imprisonment for three months.
It is therefore the Authority’s policy that photographic reproduction of coins for advertisements including but not limited to print, film or television requires the prior written consent of the Monetary Authority.
Correspondence regarding the reproduction of notes and coins should be addressed to the Head of Currency Division, Cayman Islands Monetary Authority, SIX Cricket Square, 171 Elgin Ave, George Town, Cayman Islands Telephone: 1 345 949 7089 Fax: 1 345 946 7877