Explanatory Statement
Currency Act 1965
Currency Legislation (Royal Australian Mint) Amendment Determination 2013 (No. 2)
Under subsection 13A(1) of the Currency Act 1965, the Parliamentary Secretary to the Treasurer, Bernie Ripoll, made the Currency (Royal Australian Mint) Determination 2012 (No. 3) in July 2012 and the Currency (Royal Australian Mint) Determination 2012 (No. 6) in January 2013, both regarding the specifications of coins proposed to be issued by the Royal Australian Mint.
Subsection 13A (1) of the Currency Act 1965 requires that the determination provides details of the coins’ characteristics, including standard composition, standard weight, allowable variation from standard weight, design and dimensions.
This amendment determination is a disallowable instrument for the purposes of section 42 of the Legislative Instruments Act 2003.
Amendment of Currency (Royal Australian Mint) Determination 2012 (No. 3)
- 2013 $1 Silver Coin – Bicentenary of the Holey Dollar and Dump
Item 27 of Schedule 1, Part 1 Currency (Royal Australian Mint) Determination 2012 (No. 3) was not manufactured within the determined specifications. Section 3 and Schedule 1 of Currency Legislation (Royal Australian Mint) Amendment Determination 2013 (No. 2) corrects the standard weight and allowable variation for the said coin to reflect the actual coin specifications achieved by the manufacturing process.
Amendment of Currency (Royal Australian Mint) Determination 2012 (No. 6)
- 2013 $5 Silver Coin – Anniversary of Australian Parliament House
Item 3 of Schedule 1, Part 1 Currency (Royal Australian Mint) Determination 2012 (No. 6) was not manufactured within the determined specifications. Section 4 and Schedule 2 of Currency Legislation (Royal Australian Mint) Amendment Determination 2013 (No. 2) corrects the standard weight and allowable variation and the maximum diameter or other dimension for the said coin to reflect the actual coin specifications achieved by the manufacturing process.
- 2013 $10 Silver Coin – Bicentenary of the Crossing of the Blue Mountains
Item 4 of Schedule 1, Part 1 Currency (Royal Australian Mint) Determination 2012 (No. 6) was not manufactured within the determined specifications. Section 4 and Schedule 2 of Currency Legislation (Royal Australian Mint) Amendment Determination 2013 (No. 2) corrects the standard weight and allowable variation and maximum thickness for the said coin to reflect the actual coin specifications achieved by the manufacturing process.
Commencement
Sections 1 to 3 and Schedule 1 is taken to have commenced on 5 July 2012.
Section 4 and Schedule 2 is taken to have commenced on 16 January 2013.
The proposed amendments do not contravene subsection 12 (2) of the Legislative Instruments Act 2003 by having either of the following effects:
(a) affecting the rights of a person (other than the Commonwealth or an authority of the Commonwealth) as at the date of registration so as to disadvantage that person; or
(b) imposing liabilities on a person (other than the Commonwealth or an authority of the Commonwealth) in respect of anything done or omitted to be done before the date of registration.
Consultation
No public consultation was undertaken in relation to the currency determination. The effect of this instrument is to determine the weight, design and dimension of coins to enable the Royal Australian Mint to continue its production of circulating and numismatic coins. The Mint receives public submissions on coin designs and determines appropriate designs in accordance with its Coin Design Policy. The Mint used market based tools to identify interested parties and gauge interest in coin themes.
Statement of Compatibility with Human Rights
This 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. The purpose of the Currency Legislation (Royal Australian Mint) Amendment Determination 2013 (No. 2) is to determine the weight, design and dimension of circulating and numismatic coins. This instrument does not engage any of the applicable rights or freedoms. This instrument is compatible with human rights as it does not raise any human rights issues. This determination has been made by the Parliamentary Secretary to the Treasurer, Bernie Ripoll, in accordance with subsection 13A (1) of the Currency Act 1965.