20 Francs

The New Hebrides was a condominium jointly administered by Britain and France — one of the stranger colonial arrangements of the twentieth century, with parallel court systems, police forces, and currencies operating simultaneously. French francs, British pounds, and eventually these condominium-specific issues all circulated together, which did little for monetary clarity. Paris handled the actual striking of this series.

The KM#3.1 designation distinguishes this from a later variant with revised specifications introduced in 1973.