Time Period: 1940-

Timeline

• 31.05.1940
• Ordinance (provisional) [No. 8] on the counter-stamping of Danish banknotes for use in the Faroe Islands (after the German occupation of Denmark); effective immediately.
  - 01.07.1940: End of counter-stamping period and demonetization of unmarked Danish paper money.
• 14.10.1940
• Ordinance (provisional) [No. 32] on the issuance of emergency paper money and the exchange rate of 1 British Pound = 22.40 Danish Crowns for use in Faroe Islands (pre-war parity of the Danish Crown); effective immediately
• 18.12.1940
• Ordinance (provisional) [No. 48] on the legal tender status in the Faroe Islands of the Faroese emergency paper money, counter-stamped Danish paper money and Danish subsidiary coins; effective immediately.
  - Around 1941: Issuance of Danish subsidiary coins produced by the Royal Mint in London due to a shortage of mainland coins.
• 27.03.1941
• Proclamation [No. 13] of the treaty between the United Kingdom and the Faroe Islands Administration on financial relations; effective immediately
• 03.07.1942
• Ordinance (provisional) [No. 28] on the withdrawal of the counter-stamped Danish paper money of June 1940; effective 31.10.1942
• 12.04.1949
• Law [No. 248] on the introduction of distinct paper money in Danish currency for the Faroe Islands under responsibility of the Faroese Prime Minister's office and produced by the National Bank of Denmark, replacing the Danish paper money; effective 01.01.1951 by ordinance [No. 214] of 24.05.1950.
• 04.05.1954
• Ordinance [No. 146] on the withdrawal of the Faroese emergency paper money of 1940; effective 31.12.1954 (redeemable until 31.12.1955)