Currency (Australian Coins) Amendment (Technical Amendments) Determination 2024

Administered by Department of the Treasury

Legislation au F2024L01722 In force Legislative Instrument

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EXPLANATORY STATEMENT

Issued by authority of the Assistant Treasurer and Minister for Financial Services

Currency Act 1965

Currency (Australian Coins) Amendment (Technical Amendments) Determination 2024

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 make technical amendments to ensure the Currency (Australian Coins) Amendment (2024 Perth Mint No. 7) Determination 2024 (the Perth Mint 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.

Sections 1 to 4 of the legislative instrument commenced on the day after it was registered on the Federal Register of Legislation. Schedule 1 to the legislative instrument commences immediately before the Perth Mint Determination commences. The Perth Mint Determination commences on the day after it is 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 item 20 of the table in section 12 of the 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 make technical amendments of a minor and machinery nature to ensure the Perth Mint Determination operates as intended and enable the Perth Mint to begin its production of the coins determined in that legislative instrument.

Statement of Compatibility with Human Rights

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

Currency (Australian Coins) Amendment (Technical Amendments) Determination 2024

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 technical amendments to ensure the Currency (Australian Coins) Amendment (2024 Perth Mint No. 7) Determination 2024 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 (Technical Amendments) Determination 2024

Section 1 – Name of the Determination

This section provides that the name of the Determination is the Currency (Australian Coins) Amendment (Technical Amendments) Determination 2024 (the Determination).

Section 2 – Commencement

This section provides the following:

•                 sections 1 to 4 of the Determination commence the day after the Determination is registered on the Federal Register of Legislation.

•                 Schedule 1 to the Determination commences immediately before the Currency (Australian Coins) Amendment (2024 Perth Mint No. 7) Determination 2024 (the Perth Mint Determination) commences. The Perth Mint Determination commences on the day after it is registered on the Federal Register of Legislation.

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 Perth Mint Determination by making technical amendments to ensure it operates as intended.

Item 1 corrects a minor error in the instrument name heading of Schedule 1 to the Perth Mint Determination, to ensure that it correctly amends the Currency (Australian Coins) Determination 2019.

Items 2 and 3 adjusts the location of the coins added by the Perth Mint Determination, by making minor technical changes to the headings, to ensure they are inserted at the correct location in the tables.

 

Overview

The Currency (Australian Coins) Amendment (Technical Amendments) Determination 2024 was enacted by the Treasurer to address issues that could potentially affect the operation of the Currency (Australian Coins) Amendment (2024 Perth Mint No. 7) Determination 2024. This legislative instrument amends the technical aspects of the Perth Mint Determination to ensure it functions as intended, particularly in terms of the coin characteristics such as denomination, composition, weight, design, and dimensions. The enactment of this determination was authorised under subsection 13(2) and section 13A of the Currency Act 1965, with the aim of ensuring the legal tender status of Australian coins remains unaffected by technical errors. The policy objective behind this determination is to maintain economic certainty and the integrity of the currency system by rectifying minor technical issues that could otherwise interfere with the production and circulation of Australian coins. The instrument does not require public consultation and is subject to disallowance under the Legislation Act 2003.

Scope and Application

The Currency (Australian Coins) Amendment (Technical Amendments) Determination 2024 applies to the Currency Act 1965, which governs the issuance and characteristics of Australian coins. The Determination amends the Currency (Australian Coins) Amendment (2024 Perth Mint No. 7) Determination 2024 to correct minor errors and ensure the proper operation of the Perth Mint's coin production as intended by the original legislation. This instrument is applicable to the Perth Mint and any other entities involved in the production of Australian coins as specified in the Schedule to the Currency Act 1965. The amendments are technical and do not alter the fundamental provisions of the Currency Act. The Determination operates nationally, as it pertains to the nationwide issuance and characteristics of Australian coins. There are no stated exclusions or exemptions within the Determination itself, though the Currency Act may contain specific exclusions or thresholds for coin production and legal tender status. The legislative instrument is subject to disallowance and is not subject to sunsetting as it is integral to maintaining economic certainty regarding the legal tender status of Australian coins.

Key Provisions

The Currency (Australian Coins) Amendment (Technical Amendments) Determination 2024, under the Currency Act 1965 (sections 13(2) and 13A), corrects technical errors in the Currency (Australian Coins) Amendment (2024 Perth Mint No. 7) Determination 2024 to ensure it operates as intended. Specifically, Section 1 identifies the name of the determination as the Currency (Australian Coins) Amendment (Technical Amendments) Determination 2024, while Section 2 details the commencement of various sections and the Schedule. Sections 1 to 4 of the Determination commence the day after it is registered on the Federal Register of Legislation, and Schedule 1 commences immediately before the Perth Mint Determination. Section 3 confirms the authority for the Determination under the Currency Act 1965, and Section 4 references the Schedule, which details the amendments. The obligations imposed by this Determination on the relevant parties include ensuring that the technical amendments are correctly implemented in the Perth Mint Determination. The Treasurer, who has the authority to determine coin characteristics under section 19 of the Acts Interpretation Act 1901, must ensure that the coins produced by the Mints remain legal tender unless they are returned to a mint for removal from circulation. The Perth Mint must adhere to the corrected technical specifications outlined in Schedule 1 of the Determination to ensure the coins meet the standards set by the Currency Act. There are no specific offences or penalties outlined in the Determination itself; however, breaches of the Currency Act 1965, including the unauthorised making and issuing of coins, can result in significant civil and criminal penalties. Under section 121 of the Currency Act, a person who contravenes any provision of the Act is liable to a penalty not exceeding 5,000 penalty units for an individual and 25,000 penalty units for a body corporate. Additionally, under section 122 of the Act, a person who knowingly uses or possesses unauthorised coins with the intent to use them as legal tender can be liable to a penalty not exceeding 5,000 penalty units. These penalties reflect the importance of maintaining the integrity of the currency system in Australia.

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Currency Law
Instrument
Statutory Instrument
Concepts
Definitions & Interpretation
Commencement Provisions
Repeal & Amendment
Compliance Obligations
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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.