Currency (Perth Mint) Determination 2001 (No. 2) Amendment Determination 2002 (No. 1)

Overview

The Currency (Perth Mint) Determination 2001 (No. 2) Amendment Determination 2002 (No. 1) was enacted in 2002 by Ian Gordon Campbell, the Parliamentary Secretary to the Treasurer, under the authority of subsection 13A (1) of the Currency Act 1965. This determination was introduced to amend the Currency (Perth Mint) Determination 2001 (No. 2), which was originally made on 20 September 2001. The primary objective of this amendment was to make minor adjustments to the original determination, ensuring the continued smooth operation of the Perth Mint in accordance with the overarching provisions of the Currency Act 1965. The determination was made by the relevant federal authority and came into effect immediately upon gazettal. The Currency Act 1965 itself was established to provide for the production and issuing of Australian currency, the control of currency production, and to address any gaps in the regulation of currency minting operations, particularly in relation to the Perth Mint. This amendment sought to refine and update the regulations governing the mint to align with any new operational requirements or legislative changes that had occurred since the original determination was made.

Scope and Application

The Currency (Perth Mint) Determination 2001 (No. 2) Amendment Determination 2002 (No. 1) applies specifically to the operations of the Perth Mint, a government-owned enterprise responsible for minting Australian currency. This amendment modifies the Currency (Perth Mint) Determination 2001 (No. 2), and its provisions pertain to the minting processes, standards, and the regulation of currency production within Australia. This legislative instrument affects entities involved in the production of Australian currency, ensuring compliance with national standards and the specifications set forth by the Commonwealth government. Geographically, the Determination applies across Australia, with the Perth Mint being a key entity in the nationwide currency production and distribution framework. There are no exclusions or exemptions specified in this Determination, implying that it applies universally within its purview. Any further application or restrictions are to be understood through the subordinate instruments and regulations that may be issued under the Currency Act 1965.

Key Provisions

The Currency (Perth Mint) Determination 2001 (No. 2) Amendment Determination 2002 (No. 1), made under subsection 13A(1) of the Currency Act 1965, amends the Currency (Perth Mint) Determination 2001 (No. 2). This amendment, effective from its gazette date, modifies the original determination by changing the section number from "No. 2" to "No. 2A." This change in section number is significant as it updates the reference to the amended determination, ensuring clarity and alignment with the legislative framework governing currency production and management at the Perth Mint. Entities governed by the Currency Act 1965, including the Perth Mint, must adhere to the amended determination. The Perth Mint, as the primary producer of Australian coins, is required to ensure that all minted currency aligns with the specifications and standards outlined in the amended determination. This includes maintaining the quality and design integrity of the coins, as well as complying with any changes to the production processes or specifications that the amendment may entail. The amendment aims to provide a clear and updated directive for the Perth Mint's operations, ensuring consistency with current legislative requirements. Failure to comply with the provisions of the Currency Act 1965 and its associated determinations can result in legal consequences. Offences under the Act can lead to both civil and criminal penalties. For instance, individuals or entities found to be in breach of the Act may face fines, imprisonment, or both, depending on the severity and nature of the offence. The specific penalties are not detailed in the amendment determination but are outlined in the main Act, which provides a comprehensive framework for enforcement and compliance. The exact penalties are determined by the courts based on the circumstances of each case, but they can include substantial fines and imprisonment terms, reflecting the seriousness of non-compliance with currency production laws. In summary, the Currency (Perth Mint) Determination 2001 (No. 2) Amendment Determination 2002 (No. 1) serves to update the legislative reference for the Perth Mint's operations, ensuring that the currency produced meets the standards and specifications set forth by the Currency Act 1965. Entities governed by the Act must ensure strict adherence to the amended determination to avoid the serious legal consequences of non-compliance. These consequences can include fines and imprisonment, underscoring the importance of compliance with currency production laws.