EXPLANATORY STATEMENT

Issued by authority of the Assistant Minister for Competition, Charities and Treasury

Currency Act 1965

Currency (Australian Coins) Amendment (2022 Royal Australian Mint No. 5) Determination 2022

Subsection 13(2) and section 13A of the Currency Act 1965 (the Act) provide that the Treasurer may, by legislative instrument, determine details of Australian coin characteristics including denomination, standard composition, standard weight, allowable variation from standard weight, design and dimensions.

The purpose of this legislative instrument is to determine the characteristics of 10 new non-circulating coins proposed to be issued by the Royal Australian Mint and to make technical amendments to ensure the Determination operates as intended.

The Treasurer may authorise the making and issuing of coins specified, or taken to be specified, in the Schedule to the Currency Act 1965.  A payment of money is a legal tender if it is made in coins that are made and issued under the Currency Act 1965.  Through the issue of a currency determination, the Treasurer can add, remove and alter the coin characteristics specified, or taken to be specified, in the Schedule to the Currency Act 1965.

In accordance with section 19 of the Acts Interpretation Act 1901, any Minister in the Treasury portfolio may, by legislative instrument, determine details of Australian coin characteristics.

Details of the legislative instrument are set out in the Attachment.

The legislative instrument commenced on the day after it was registered on the Federal Register of Legislation.

The legislative instrument is subject to disallowance under section 42 of the Legislation Act 2003.

The Determination is a legislative instrument for the purposes of the Legislation Act 2003. The Determination is not subject to sunsetting under the Legislation Act 2003 on the grounds that the instrument ensures economic certainty (see Legislation (Exemptions and Other Matters) Regulation 2015). The instrument’s operation is integral in ensuring that the currency produced by the Mints becomes, and remains, legal tender unless or until returned to a mint to be taken out of circulation in accordance with the Currency Act 1965.

Consultation

No public consultation was undertaken in relation to this legislative instrument. The effect of this instrument is to determine details of new Australian coin characteristics which will enable the Royal Australian Mint to continue its production of circulating and numismatic coins.

Members of the public have the opportunity to contact the Royal Australian Mint to present any themes they would like to see commemorated on Australian legal tender. These concepts are then researched and assessed in accordance with the Royal Australian Mint’s Coin Design Policy. The Royal Australian Mint also uses market-based tools to identify interested parties and gauge interest in coin themes.

Statement of Compatibility with Human Rights

Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011

Currency (Australian Coins) Amendment (2022 Royal Australian Mint No. 5) Determination 2022

This Legislative Instrument is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.

Overview of the Legislative Instrument

The purpose of this legislative instrument is to determine the characteristics of 10 new non-circulating coins proposed to be issued by the Royal Australian Mint and to make technical amendments to ensure the Determination operates as intended.

Human rights implications

This Legislative Instrument does not engage any of the applicable rights or freedoms.

Conclusion

This Legislative Instrument is compatible with human rights as it does not raise any human rights issues.

ATTACHMENT

Details of the Currency (Australian Coins) Amendment (2022 Royal Australian Mint No. 5) Determination 2022

This Attachment sets out further details of the Currency (Australian Coins) Amendment (2022 Royal Australian Mint No. 5) Determination 2022 (the Determination).

Section 1 – Name

This section provides that the name of the Determination is the Currency (Australian Coins) Amendment (2022 Royal Australian Mint No. 5) Determination 2022.

Section 2 – Commencement

This section prescribes that the Determination commences the day after the Determination is registered.

Section 3 – Authority

This section provides that the Determination is made under the Currency Act 1965.

Section 4 – Schedule

This section provides that each instrument specified in a Schedule to the Determination is amended or repealed as set out in the Schedule.

Schedule 1 – Amendments

Schedule 1 amends the Currency (Australian Coins) Determination 2019 by adding the details of new coin characteristics and making technical amendments to ensure the Determination operates as intended. The newly determined coin characteristics are set out below.

New non-circulating coins

2022 $1 ½ oz Silver Proof Coin – ABC 90th Anniversary

2022 20c Uncirculated Coin – ABC 90th Anniversary

The design on the 2022 ABC 90th Anniversary coins consists of, in the centre, a representation of the Australian Broadcasting Corporation logo. Surrounding the logo, there are stylised representations of the following:

1. an Australian Rules football; and
2. a tractor; and
3. a radio; and
4. fireworks; and
5. two theatrical masks (Thalia and Melpomene); and
6. an open book; and
7. a satellite dish; and
8. the Torres Strait Islander Flag (as proclaimed in Proclamation under the Flags Act 1953 (Torres Strait Islander Flag)); and
9. a potted plant; and
10. the logo of the Australian Broadcasting Corporation’s music video television program, Rage; and
11. the national hazard icons (also known as the Australian Warning System icons) for storm, bushfire, flood, extreme heat and other; and
12. the logo of the Australian Broadcasting Corporation’s music television program, Countdown; and
13. the characters Jemima and Humpty Dumpty from the Australian Broadcasting Corporation’s children television series, Play School; and
14. the character Hoot from the Australian Broadcasting Corporation’s children television series Giggle and Hoot and
15. a television camera light; and
16. an Australian Broadcasting Corporation’s logo modified in support of LGBTQI pride; and
17. a reel of movie picture film; and
18. a voting tick box; and
19. a computer tablet; and
20. a laboratory flask; and
21. a radio microphone; and
22. the characters B1 and B2 from the Australian Broadcasting Corporation’s children television series, Bananas in Pyjamas; and
23. an Aermotor style wind-powered water pump; and
24. a painter’s palette; and
25. the logo of the Australian Broadcasting Corporation’s music radio station, Triple J; and
26. an Olympic flame; and
27. the logo of the Australian Broadcasting Corporation’s current affairs television program, 4 Corners; and
28. the logo of the Australian Broadcasting Corporation’s television station, ABC Kids; and
29. the Australian Aboriginal Flag (as proclaimed in the Flags Act 1953 ‑ Proclamation (Australian Aboriginal Flag)); and
30. ballet shoes; and
31. the logo of the Australian Broadcasting Corporation’s television program, Foreign Correspondent; and
32. a motion picture film camera; and
33. a rugby ball; and
34. a cricket bat and ball; and
35. stars; and
36. musical notes.

The design includes the following inscription: “90 YEARS OF THE AUSTRALIAN BROADCASTING CORPORATION”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coins together with the inscriptions “ELIZABETH II” and “AUSTRALIA”, the inscription, in numerals, of a year and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design also includes the initials of the designer Jody Clark “JC”.

2023 $1 Coloured Coin – Vegemite Centenary

The design on the 2023 $1 coloured coin – Vegemite Centenary consists of, in the foreground, a stylised representation of a dinner plate. On the plate is a stylised representation of a slice of bread, with Vegemite™ spread (in colour) on it, and a bite taken out of it. In the background, there is a diamond pattern. There are two red concentric circles immediately inside the rim of the plate, with the circles interrupted and partially obscured by the following inscriptions: “VEGEMITE”; and “1923 – 2023”.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coins together with the inscriptions “ELIZABETH II” and “AUSTRALIA”, the inscription, in numerals, of a year and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design also includes the initials of the designer Jody Clark “JC”.

2023 $25 1/5oz Gold Proof Coin – Fighting Spirit – Ballot Coin

2023 $1 1/2oz Silver Proof Coin – Fighting Spirit

The design on the 2023 coins – Fighting Spirit consists of, in the foreground, a stylised representation of two kangaroos in the throes of combat. On the left of the kangaroos, in the background, there is a stylised representation of a rising sun. The design includes the following inscriptions: Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires; either “X oz.9999 Au” or “X oz.999 Ag” as the case requires (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals); and a stylised representation of the letters “AB” (being the initials of the designer Aaron Baggio).

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin together with the inscriptions “ELIZABETH II” and “AUSTRALIA”, and the inscription, in numerals, of a year. The obverse design also includes the initials of the designer Jody Clark “JC”.

2022 $1 ‘Coin Stack’ Privy Mark Uncirculated Coin

The design on the 2022 $1 ‘coin stack’ privy mark uncirculated coin consists of a stylised representation of five kangaroos, “1 DOLLAR” and a privy mark with a stylised representation of a stack of coins enclosed in a square.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coins together with the inscriptions “ELIZABETH II”; “AUSTRALIA”; and the inscription, in numerals, of a year. The obverse design includes the initials of the designer Jody Clark “JC”.

2023 $30 1 kg Silver Proof Coin – Lunar Year of the Rabbit

2023 $500 5 oz Gold Proof Coin – Lunar Year of the Rabbit

The design of the 2023 coins – Lunar Year of the Rabbit consists of a crescent shape which is partially obscured on its convex side by a stylised representation of plantain lilies, partially obscured by a rabbit holding a small branch. The design includes the following inscriptions: the Chinese language character (兔) pronounced Tù under the pinyin system and meaning rabbit; “YEAR OF THE RABBIT”; “X kg .999 Ag” or “X oz.9999 Au” as the case requires (where “X” is the nominal weight in kilograms or ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals); and “BS” (being the initials of the designer Bronwyn Scott).

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coins together with the inscriptions “ELIZABETH II” and “AUSTRALIA”, the inscription, in numerals, of a year and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design also includes the initials of the designer Jody Clark “JC”.

The effigy is surrounded by an ornamental border comprising stylised representations of splashing water. Immediately inside the rim of the coin is a border consisting of stylised representations of each of the following: a rat; a pig; a dog; a rooster; a monkey; a goat; a horse; a snake; a dragon; a rabbit; a tiger; and an ox.

2023 $1 1 oz Silver Investment Coin – Australian Box Jellyfish

2023 $100 1 oz Gold Investment Coin – Australian Box Jellyfish

The design on the 2023 1 oz investment coins – Australian Box Jellyfish consists of a stylised representation of five swimming box jellyfish. The design includes the following inscriptions: “AUSTRALIAN BOX JELLYFISH”; either “X oz .999 SILVER” or “X oz .9999 GOLD” as the case requires (where “X” is the nominal weight in ounces of the coin, expressed as a whole number or a common fraction in Arabic numerals); and “AB” (being the initials of the designer Aaron Baggio).

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coins together with the inscriptions “ELIZABETH II” and “AUSTRALIA”, the inscription, in numerals, of a year and Arabic numerals for the amount, in dollars or cents, of the denomination of the coin followed by “DOLLAR”, “DOLLARS” or “CENTS” as the case requires. The obverse design also includes the initials of the designer Jody Clark “JC”.

Schedule 1 also makes a minor refinement to the specifications and descriptions, as the case requires, of two previously determined coins to either correct a minor error or reflect a difference in design interpretation identified during production.