Did a quick google on the currency act chapter 69 section 13.
A lot things added and deleted from the Currency Act above. I'm no law expert but seems the taxi driver is lying.
The question now if true the taxi driver is lying, is he in trouble?
Link to Act : http://statutes.agc.gov.sg/aol/sear...6aec" Status:published Depth:0;rec=0#pr13-he-.
Erm, the taxi driver is making specific use of subsection 4.
(4) Where a payee has given written notice to the payer that he would not accept as payment all or any of the denominations of currency notes or coins in satisfaction of a debt, subsection (2) or (3), as the case may be, shall not apply to the payment of the debt to the extent specified in the notice. [25/2002]