(1) The Minister may provide coins denominated in euro or in cent and may set out by order the technical specifications, dimensions, composition and design or designs of such coins subject to such specifications complying with the denominations and technical specifications which the Council lays down in accordance with the second sentence of Article 105a(2) of the Treaty.

(2) Coins provided under subsection (1) shall be issued by the Minister through the Central Bank of Ireland, subject to approval by the European Central Bank of the volume of the issue and, with effect from the commencement of this provision, coins issued under Part III shall be subject to such approval.

(3) Sections 3, 4 and 5 of the Act of 1969 are hereby repealed with effect from the day immediately following the earlier operative date or, where there is no such date, the day immediately following the 30th day of June, 2002.

(4) The Minister may by order amend or revoke an order under this section.