EXPLANATORY STATEMENT
Issued by authority of the Assistant Treasurer, Minister for Housing and Minister for Homelessness, Social and Community Housing
Currency Act 1965
Currency (Australian Coins) Amendment (Miscellaneous Amendments No. 1) Determination 2021
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 amend the determination of one coin proposed to be issued by the Royal Australian Mint.
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.
Consultation
No public consultation was undertaken in relation to this legislative instrument. The effect of this instrument is to make a minor amendment to the determination of one new Australian coin which will enable the Royal Australian Mint to begin its production of that coin.
Statement of Compatibility with Human Rights
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011
Currency (Australian Coins) Amendment (Miscellaneous Amendments No. 1) Determination 2021
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 make a minor amendment to the determination of one coin proposed to be issued by the Royal Australian Mint.
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 (Miscellaneous Amendments No. 1) Determination 2021
Section 1 – Name
This section provides that the name of the Determination is the Currency (Australian Coins) Amendment (Miscellaneous Amendments No. 1) Determination 2021.
Section 2 – Commencement
This section provides 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
2021 $1 Coloured Uncirculated Coin – Centenary of Rotary
Item 1 amends the description of the colour of the Rotary International Mark of Excellence as depicted on the 2021 $1 coloured uncirculated coin from orange to blue. After initial production trials, it was determined that blue was a more suitable colour to be depicted on a coin composed of copper, aluminium and nickel. The previous orange design was too difficult to see and the text elements were illegible once printed on the coin.