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.
Overview
The Currency Legislation (Royal Australian Mint) Amendment Determination 2013 (No. 2) amends the Currency (Royal Australian Mint) Determination 2012 (No. 3) and (No. 6) to correct the specifications of certain coins proposed for issuance by the Royal Australian Mint. This amendment was made under subsection 13A(1) of the Currency Act 1965, which requires detailed specifications for coins including composition, weight, design, and dimensions. This determination was made by the Parliamentary Secretary to the Treasurer, Bernie Ripoll, and it aligns with the policy objective of ensuring the Mint can continue producing circulating and numismatic coins. The amendment corrects the specifications for three coins: the 2013 $1 Silver Coin commemorating the Bicentenary of the Holey Dollar and Dump, the 2013 $5 Silver Coin marking the Anniversary of Australian Parliament House, and the 2013 $10 Silver Coin celebrating the Bicentenary of the Crossing of the Blue Mountains. These corrections reflect the actual specifications achieved by the Mint's manufacturing process. No public consultation was undertaken in relation to the determination, and the instrument does not contravene the Legislative Instruments Act 2003 or impose any liabilities on individuals before its registration. The determination is also compatible with human rights as it does not engage any of the applicable rights or freedoms.
Scope and Application
The Currency Legislation (Royal Australian Mint) Amendment Determination 2013 (No. 2) amends the Currency (Royal Australian Mint) Determination 2012 (No. 3) and (No. 6) to address discrepancies in the manufacturing specifications of certain coins issued by the Royal Australian Mint. This legislation applies to the entities responsible for minting coins and the coins themselves, specifically the 2013 $1 Silver Coin, 2013 $5 Silver Coin, and 2013 $10 Silver Coin. The amendments correct the standard weight, allowable variation, and maximum dimensions of these coins to reflect the actual specifications achieved during the manufacturing process. The determination is made under subsection 13A(1) of the Currency Act 1965, which mandates that the specifications of coins proposed to be issued must be detailed. The amendment determination has a national reach within Australia, as it pertains to the minting of Australian currency. There are no stated exclusions or exemptions, and the determination does not impose any new liabilities or disadvantage existing rights of individuals or entities. The amendments correct pre-existing specifications, ensuring that the coins meet the required standards.
Key Provisions
The Currency Legislation (Royal Australian Mint) Amendment Determination 2013 (No. 2) amends the Currency (Royal Australian Mint) Determination 2012 (No. 3) and (No. 6) to correct the specifications of certain coins that were not manufactured according to the originally set standards. Section 3 of the amendment corrects the standard weight and allowable variation for the 2013 $1 Silver Coin – Bicentenary of the Holey Dollar and Dump, while section 4 corrects the standard weight, allowable variation, maximum diameter or other dimension, and maximum thickness for the 2013 $5 Silver Coin – Anniversary of Australian Parliament House and the 2013 $10 Silver Coin – Bicentenary of the Crossing of the Blue Mountains, respectively (see Schedule 2). These corrections are made to ensure that the coins meet the manufacturing specifications achieved in production.
The Currency Legislation (Royal Australian Mint) Amendment Determination 2013 (No. 2) imposes obligations on the Royal Australian Mint to ensure that the specifications for the coins it produces align with the standards set out in the Currency Act 1965. These obligations include adhering to the corrected specifications for the amended coins as set out in the Amendment Determination. The Mint is also responsible for communicating these specifications to relevant parties and ensuring that the coins produced meet the required standards. Additionally, the Mint must comply with any further amendments to the coin specifications as determined by the Parliamentary Secretary to the Treasurer.
There are no explicit offences, penalties, or consequences for breach detailed in the Currency Legislation (Royal Australian Mint) Amendment Determination 2013 (No. 2). However, non-compliance with the specifications set out in the Currency Act 1965 could potentially lead to legal consequences under the Act. The Currency Act 1965 provides for offences and penalties related to the production of coins that do not meet the required standards, with potential fines and imprisonment for serious breaches. The Amendment Determination itself does not introduce new penalties but rather ensures that the Mint operates within the legal framework established by the Currency Act 1965.