(1)Subject to the provisions of this section, any gold bullion brought to the Mint by the Bank of England shall be assayed and coined and delivered to the Bank without any charge for the assay or coining or for waste in coinage.
(2)If the fineness of the whole of the bullion is such that it cannot be brought to the standard fineness specified for gold coins in Part I of Schedule 1 to this Act without refining some portion of it, the master of the Mint may refuse to receive, assay or coin the bullion.
(3)If the fineness of the bullion is greater than that so specified there shall be delivered to the Bank such additional amount of coin as is proportionate to the superior fineness.
(4)If Her Majesty by proclamation so directs, the preceding provisions of this section shall extend, with the necessary modifications, to gold bullion brought to the Mint by any other person, and no undue preference shall then be shown to any person under this section but every person shall have priority according to the time at which he brings the bullion to the Mint.