(1) The Central Bank of Malaysia Act 1958[Act 519] is hereby amended-
(a) by substituting for section 18 thereof the following new section 18-
"Unit of currency
18.(1) The unit of currency in the Federation shall be the ringgit, which shall be divided into one hundred sen.
(2) Upon the coming into force of this section, every contract, sale, payment, bill, note, instrument and security for money and every transaction, dealing, matter and thing whatsoever relating to money or involving the payment of, or the liability to pay, any money which but for this subsection would have been deemed to be made, executed, entered into, done and had for, in and in relation to Malaysian dollars shall be deemed instead to be made, executed, entered into, done and had for, in and in relation to ringgit.";
(b) by substituting the word "ringgit" for the words "Malaysia dollars", "Malaysian dollars", "dollar" and "dollars" wherever they appear therein; and
(c) by substituting the word "sen" for the word "cents" wherever it appears therein.
(2) Upon the coming into force of this section, all references in any written law to Malaysian dollar and cent shall respectively be construed as ringgit and sen.