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Article R721-16 of the French Monetary and Financial Code

The Institut d’émission d’outre-mer has the exclusive right to issue banknotes and coins in New Caledonia, French Polynesia and the Wallis and Futuna Islands. These banknotes and coins are legal tender.The Institut d’émission d’outre-mer is responsible for the maintenance of these banknotes and coins and for ensuring the quality of their circulation throughout its area of operation.

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Article R721-17 of the French Monetary and Financial Code

Decisions concerning the creation, characteristics, withdrawal or cancellation of banknotes and coins issued by the Institut d’émission d’outre-mer are taken by the Supervisory Board.The Institut d’émission d’outre-mer pays the State the balance of banknotes and coins it has withdrawn from circulation and stripped of their legal tender status.

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