Dear Her Majesty's Treasury,
Note 6a to the Consolidated Fund Accounts 2020-2021 states that 'Royal Mint (redeemed coinage)' is a Standing Service.
I wonder if you could tell me under what legislative provision coin redemption is a standing service. Sums received for coin are directed to the Consolidated Fund under the Coinage Act 1971 4(7), but there doesn't appear to be anything covering redemption being paid from the Consolidated Fund in that act.
Would the standing service redemption provision cover the remote contingent liability for coin listed at p14 in the Consolidated Fund Accounts, or would HM Treasury have to cover that liability (should it occur to any extent) via a Supply Vote?
Our ref: FOI2021/24069
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