Currency Regulations (Amendment) (Cth)

Statutory Rules 1986 No. 358 1

Currency Regulations2 (Amendment)

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Currency Act 1965.

Dated 9 December 1986.

                                                     N. M. STEPHEN

 Governor-General

By His Excellency's Command,

C. J. Hurford

Minister of State for Immigration and Ethnic Affairs for

and on behalf of the Treasurer

Commencement

1. These Regulations shall come into operation on 12 December 1986.

Designs of coins

2. Regulation 4 of the Currency Regulations is amended—

(a) by omitting paragraph (c) and substituting the following paragraph:

"(c) in respect of the obverse side of the coin—

(i) in the case of a coin of the denomination of $15— an effigy of the Queen and the inscriptions 'ELIZABETH II AUSTRALIA' and '15 DOLLARS', all encircled by raised beads inside the rim of the coin;

(ii) in the case of a coin of the denomination of $25— an effigy of the Queen and the inscriptions 'ELIZABETH II AUSTRALIA' and '25 DOLLARS', all encircled by raised beads inside the rim of the coin;

(iii) in the case of a coin of the denomination of $50— an effigy of the Queen and the inscriptions 'ELIZABETH II AUSTRALIA' and '50 DOLLARS', all encircled by raised beads inside the rim of the coin;

(S.R. 374/86)—Cat. No. 10/1.12.1986

 

(iv) in the case of a coin of the denomination of $100— an effigy of the Queen and the inscriptions 'ELIZABETH II AUSTRALIA' and '100 DOLLARS', all encircled by raised beads inside the rim of the coin; and

(v) in any other case—an effigy of the Queen, the inscription ‘ELIZABETH II AUSTRALIA’ and a reference (in figures) to the year of the coin; and"; and

(b) by inserting after sub-paragraph (d) (viiie) the following subparagraphs:

"(viiif) in the case of a coin of the denomination of $15—the inscription 'THE AUSTRALIAN NUGGET 1/10 OZ. FINE GOLD', a representation of an Australian gold nugget and an inscription of the name of the nugget and the year (in figures) of its discovery superimposed on a sunburst design, and a reference (in figures) to the year of the coin, all encircled by raised beads inside the rim of the coin;

(viiig) in the case of a coin of the denomination of $25—the inscription 'THE AUSTRALIAN NUGGET 1/4 OZ. FINE GOLD', a representation of an Australian gold nugget and an inscription of the name of the nugget and the year (in figures) of its discovery superimposed on a sunburst design, and a reference (in figures) to the year of the coin, all encircled by raised beads inside the rim of the coin;

(viiih) in the case of a coin of the denomination of $50—the inscription 'THE AUSTRALIAN NUGGET 1/2 OZ. FINE GOLD', a representation of an Australian gold nugget and an inscription of the name of the nugget and the year (in figures) of its discovery superimposed on a sunburst design, and a reference (in figures) to the year of the coin, all encircled by raised beads inside the rim of the coin;

(viiij) in the case of a coin of the denomination of $100—the inscription 'THE AUSTRALIAN NUGGET 1 OZ. FINE GOLD', a representation of an Australian gold nugget and an inscription of the name of the nugget and the year (in figures) of its discovery superimposed on a sunburst design, and a reference (in figures) to the year of the coin, all encircled by raised beads inside the rim of the coin;".

The Schedule to the Act

3. Regulation 7 of the Currency Regulations is amended by adding at the end the following sub-regulation:

"(2) The Act shall have effect, on and after 12 December 1986, as if—

(a) the reference in the Schedule to the Act, opposite to the reference to the denomination 'One hundred dollars', to the standard composition of coins of that denomination were a reference to the standard composition 'not less than 99.99% gold';

(b) the reference in that Schedule, opposite to the reference to the denomination 'Fifty dollars', to the standard composition of coins of that denomination were a reference to the standard composition 'not less than 99.99% gold';

(c) the reference in that Schedule, opposite to the reference to the denomination 'Twenty-five dollars', to the standard composition of coins of that denomination were a reference to the standard composition 'not less than 99.99% gold';

(d) there were included in that Schedule a reference to a denomination of 'Fifteen dollars'; and

(e) there were specified in that Schedule opposite to the denomination of 'Fifteen dollars', as the standard composition of coins of that denomination, the standard composition 'not less than 99.99% gold'.".

Schedule

4. The Schedule to the Currency Regulations is amended by omitting—

"$200 10.00 24.20 2.00 0.06"

and substituting—

"$200	10.00	24.20	2.00	0.06
$100	31.162	32.10	2.65	0.055
$ 50	15.594	25.10	2.20	0.040
$ 25	7.807	20.10	1.80	0.030
$ 15	3.133	16.10	1.30	0.022".

NOTES

1. Notified in the Commonwealthof Australia Gazette on 11 December 1986.

2. Statutory Rules 1966 No. 21 as amended to date. For previous amendments see Note 2 to Statutory Rules 1986 No. 83 and see also Statutory Rules 1986 No. 83.

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