Currency Amendment Act 1980

Administered by Department of the Treasury

Legislation au C2004A02218 In force Act

Select Document

No. 17 of 1980

An Act to amend the Currency Act 1965

[Assented to 23 April 1980]

BE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:

Short title, &c.

1. (1) This Act may be cited as the Currency Amendment Act 1980.

(2) The Currency Act 1965 is in this Act referred to as the Principal Act.

Commencement

2. This Act shall come into operation on the day on which it receives the Royal Assent.

Interpretation

3. Section 4 of the Principal Act is amended—

(a) by omitting the definition of “the Schedule”; and

(b) by adding at the end thereof the following sub-section:

“(2) In this Act, unless the contrary intention appears, a reference to coins made and issued under this Act shall be read as a reference to coins made and issued under the Currency Act 1965 or under that Act as amended and in force at any time.”.

Extension to external Territories

4. Section 5 of the Principal Act is amended by omitting “except Papua New Guinea and the Territory of Christmas Island”.

Act to bind Crown

5. Section 6 of the Principal Act is amended by omitting “or a State” and substituting “of each of the States and of the Northern Territory”.

Treasurer may issue coins

6. Section 14 of the Principal Act is amended by inserting after sub-section (1) the following sub-section:

“(1a) The regulations may, from time to time, provide that this Act shall have effect, on and after a date specified in the regulations, as if the references in sub-section 14a(1) and the Schedule to the denomination of Two hundred dollars were references to such greater or lesser denomination as is specified in the regulations and, where any such regulations are made, this Act shall have effect accordingly.”.

7. After section 14 of the Principal Act the following section is inserted:

Issue price of coins of certain denominations

“14a. (1) Coins of the denomination of Two hundred dollars, One hundred dollars, Fifty dollars and Twenty-five dollars shall be issued at such respective prices as the Treasurer from time to time determines.

“(2) The Treasurer may, either generally or as otherwise provided by the instrument of delegation, by writing signed by him, delegate to a person all or any of his powers under sub-section (1).

“(3) A power so delegated, when exercised by the delegate, shall be deemed to have been exercised by the Treasurer.

“(4) A delegation under this section does not prevent the exercise by the Treasurer of the power or powers so delegated.

“(5) Where the Treasurer has delegated a power to a person under this section, the Treasurer may give directions to that person with respect to the exercise of that power and the power shall not be exercised by the delegate otherwise than in accordance with any such directions.”.

Legal tender

8. Section 16 of the Principal Act is amended—

(a) by inserting in paragraph (a) of sub-section (1) “or coins of 2 or more of those denominations” after “Fifty cents”;

(b) by omitting from paragraph (a) of sub-section (1) “Five dollars” and substituting “$5”;

(d) by omitting from paragraph (b) of sub-section (1) “any other coins” and substituting “coins of the denomination of One cent or Two cents or coins of both of those denominations”;

(e) by omitting from paragraph (b) of sub-section (1) “Twenty” and substituting “20”;

(f) by adding at the end of sub-section (1) the following word and paragraph:

“; and (c) in the case of coins of another denomination—for payment of any amount.”; and

(g) by omitting from sub-section (2) “the last preceding sub-section” and substituting “sub-section (1)”.

Payments during and after transition period

9. Section 19 of the Principal Act is amended by omitting sub-section (2) and substituting the following sub-section:

“(2) Sub-section (3) of section 11 has effect for the purposes of sub-section (1) of this section and so has effect as if the reference in that first-mentioned sub-section to sub-section (2) of section 11 were a reference to sub-section (1) of this section.”.

Heading to Schedule

10. The heading to the Schedule to the Principal Act is omitted and the following heading substituted:

“SCHEDULE”.

Amendment to Schedule

11. The Schedule to the Principal Act is amended by omitting—

“Fifty cents.............................Copper and nickel”

and substituting—

“Two hundred dollars......................11/12ths gold and 1/12th other metal

One hundred dollars.......................11/12ths gold and 1/12th other metal

Fifty dollars.............................11/12ths gold and 1/12th other metal

Twenty-five dollars.......................11/12ths gold and 1/12th other metal

Fifty cents..............................Copper and nickel”.

Formal amendments

12. The Principal Act is amended as set out in the Schedule.

—————

SCHEDULE Section 12

FORMAL AMENDMENTS

1. The following provisions of the Principal Act are amended by omitting the words “of this Act”, “of this section” and “of this definition” (wherever occurring):

Sub-sections 2(1), 10(1) and (3), sub-section 10(4) (definition of “law of the Commonwealth”), sub-section 11(2), sections 12 and 15 and sub-sections 18(2), 19(1) and 20(1).

2. The Principal Act is further amended as set out in the following table:

Provision	Amendment
Sub-section 2(2)..........	Omit “the fourteenth day of February, One thousand nine hundred and sixty-six”, substitute “14 February 1966”
Sub-section 4...........	Omit “the next succeeding section” from the definition of “Australia”, substitute “section 5”
Sub-section 10(2).........	Omit “the last preceding sub-section”, substitute “sub-section (1)”
Sub-section 10(3).........	Omit “the next succeeding section”, substitute “section 11”
Sub-section 11(2).........	(a) Omit “the fourteenth day of February, One thousand nine hundred and sixty-six”, substitute “14 February 1966”
Sub-section 11(2).........	(b) Omit “the next succeeding sub-section”, substitute “sub-section (3)”
Sub-section 11(3).........	Omit “the last preceding sub-section”, substitute “sub-section (2)”
Section 12.............	Omit “the fourteenth day of February, One thousand nine hundred and sixty-six”, substitute “14 February 1966”
Section 17.............	Omit “the last preceding section”, substitute “section 16”
Paragraph 18(2)(a)........	Omit “the last preceding sub-section”, substitute “sub-section (1)”
Paragraph 18(2)(b)........	Omit “that sub-section”, substitute “sub-section (1)”
Sub-section 19(1).........	(a) Omit “the last preceding section”, substitute “section 18”
Sub-section 19(1).........	(b) Omit “the next succeeding sub-section”, substitute “sub-section (2)”
Sub-section 20(5).........	Omit “of this section” (first occurring)
Sub-section 20(6).........	(a) Omit “the next succeeding sub-section”, substitute “sub-section (7)”
	(b) Omit “of this Act”
	(c) Omit “the last preceding section”, substitute “section 19”
Sub-section 20(7).........	Omit “The last two preceding sub-sections”, substitute “Sub-sections (5) and (6)”
Sub-section 20(10)........	Omit “of this section”
Sub-section 23(2).........	Omit “the last preceding sub-section”, substitute “sub-section (1)”
Sub-section 24(1).........	Omit “the tenth, eleventh and twelfth days of February, One thousand nine hundred and sixty-six,”, substitute “10, 11 and 12 February 1966”
Sub-section 24(2).........	Omit “the last preceding sub-section”, substitute “sub-section (1)”
Section 25.............	Omit “the fourteenth day of February, One thousand nine hundred and sixty-six,”, substitute “14 February 1966”

Overview

The Currency Amendment Act 1980 is an Act of the Parliament of Australia that amends the Currency Act 1965. The Act was enacted to address issues arising from the changes in the monetary system of Australia, particularly with respect to the issuance of coins and their denominations. The Currency Amendment Act 1980 introduces several changes to the Principal Act, including the extension of the Act's application to external territories, modifications to the composition and denominations of coins, and adjustments to the legal tender status of certain coins. Additionally, the Act provides for the issuance of coins of specific denominations at prices determined by the Treasurer and includes formal amendments to the Principal Act to ensure consistency and clarity in the text. The policy objective of the Currency Amendment Act 1980 is to update and refine the legal framework governing the issuance and use of currency in Australia, ensuring that it remains relevant and effective in light of economic and monetary developments. The Act ensures that the Australian currency system is adaptable to changing circumstances, thereby maintaining the stability and integrity of the nation's monetary system.

Scope and Application

The Currency Amendment Act 1980 is a legislative instrument that amends the Currency Act 1965. The Act applies to the Commonwealth of Australia and its external territories, with the exception of Papua New Guinea and the Territory of Christmas Island, as per the amendment to Section 5 of the Principal Act. The Act binds the Crown and extends to each of the States and the Northern Territory, as modified in Section 6. The Act allows for the issuance of coins by the Treasurer and regulates the issue price of coins of certain denominations, specifically those of Two hundred dollars, One hundred dollars, Fifty dollars, and Twenty-five dollars, as detailed in the newly inserted Section 14a. It further governs the legal tender status of these coins, amending Section 16 to specify that certain coins are legal tender for payment of any amount. The Act also addresses payments during and after a transition period by amending Section 19. Additionally, the Act modifies the Schedule to the Principal Act by updating the composition of various coin denominations and includes formal amendments to the Principal Act to correct and update references throughout. The Act's application can be further specified through subordinate instruments, such as regulations, which can adjust the denominations of coins as needed.

Key Provisions

The Currency Amendment Act 1980 (C2004A02218) amends the Currency Act 1965, bringing various modifications to the original legislation. This Act introduces several significant changes, including adjustments to the types of coins issued, their denominations, and the legal tender status of certain coins (Sections 4, 6, 7, and 8). The Act also modifies the composition of specific coins, with higher denominations now consisting of 11/12 gold and 1/12 other metal (Section 11). Additionally, the Act updates references to dates within the Principal Act, changing long-form dates to numerical format (Section 12). Under this Act, the Treasurer is granted the authority to issue coins of various denominations, including Two hundred dollars, One hundred dollars, Fifty dollars, and Twenty-five dollars, at prices determined by the Treasurer (Section 14a). The Treasurer can delegate these powers to another individual, who must then act in accordance with any directions provided by the Treasurer (Section 14a(2)-(5)). The Act also specifies that certain coins are considered legal tender for various payments, including coins of 2 or more denominations for certain amounts and coins of another denomination for any amount (Section 16). The Currency Amendment Act 1980 imposes several obligations on the parties governed by it. The Treasurer must determine the issue price of the specified coins and can delegate this power to another individual, who must follow the Treasurer’s directions. Additionally, the Act requires the Treasurer to ensure that coins meet the specified composition requirements. Failure to comply with these obligations could result in legal consequences. Breach of the provisions of the Currency Amendment Act 1980 can lead to civil and criminal penalties. While the Act does not explicitly state the penalties for non-compliance, breaches of the Currency Act 1965, as amended, may incur penalties under the original Act or other relevant legislation. The maximum penalties can vary depending on the nature and severity of the breach but may include fines and, in some cases, imprisonment. It is essential for parties governed by the Act to adhere to its provisions to avoid any potential legal repercussions.

Area of Law: Commercial Law
Instrument: Amending Act
Concepts: Definitions & Interpretation; Repeal & Amendment; Commencement Provisions; Legal tender; Payments during and after transition period; Enforcement Powers

Interactions

Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.

Legislation content

Overview

Scope and Application

Key Provisions

Legal classification tags

Interactions

Authorises

All Versions