(1) The standard unit of value of the State shall be the Irish pound having a par value of 2.13281 grams of fine gold which shall be issued in the form of a legal tender note.
(2) The Government may by order, after consultation with the Bank, change the par value specified in subsection (1) of this section.
(3) The Government may by order, after consultation with the Bank, amend or revoke an order under this section, including this subsection.
(4) Whenever an order under this section is in force, subsection (1) of this section shall have effect in accordance with the terms of the order.
(5) Every order under this section shall be laid before each House of the Oireachtas as soon as may be after it is made.