Currency (Perth Mint) Determination 2004 (No. 3) Amendment Determination 2005 (No. 1)

Overview

The Currency Act 1965, enacted by the Australian Parliament, provides the legislative framework for the issuance of legal tender in Australia. It aims to ensure the integrity and uniformity of currency, and was introduced to address the need for a clear and authoritative legal basis for the design, composition, and issuance of coins by the Perth Mint. This Act has been amended to accommodate new commemorative coins, as seen in the Currency (Perth Mint) Determination 2004 (No. 3) Amendment Determination 2005 (No. 1) and Currency (Perth Mint) Determination 2005 (No. 1). These determinations, made by the Parliamentary Secretary to the Treasurer, specify the characteristics of coins including their composition, weight, design, and dimensions, as required by the Currency Act. Notably, these coins commemorate significant anniversaries such as the 90th anniversary of the first Australian and New Zealand Army Corps, the 100th anniversary of Rotary International, and the 60th anniversary of the end of World War II. Each determination details the coin designs, planned release dates, and the inclusion of the year "2005" on the obverse to reflect contemporary relevance. These coins are subject to disallowance by Parliament, underscoring the legislative oversight inherent in their issuance.

Scope and Application

The Currency (Perth Mint) Determination 2005 (No. 1) under the Currency Act 1965 governs the specifications of coins proposed to be issued by the Perth Mint, detailing the characteristics of commemorative coins to be released in 2005. These coins are intended to honour significant anniversaries, including the 90th anniversary of the first Australian and New Zealand Army Corps, the 100th anniversary of the establishment of Rotary International, and the 60th anniversary of the end of World War II. The coins will feature various designs and materials, with specifications covering their composition, weight, dimensions, and design elements. The determination applies to the Perth Mint and anyone involved in the production and issuance of these coins, ensuring they meet the legal standards for Australian legal tender. The geographic reach of this Act is national, as it pertains to the federal issuance of currency in Australia. The determination is subject to disallowance under the Acts Interpretation Act 1901 and becomes effective the day after it is registered.

Key Provisions

The Currency (Perth Mint) Determination 2004 (No. 3) Amendment Determination 2005 (No. 1) and the Currency (Perth Mint) Determination 2005 (No. 1) lay out the specifications for six commemorative coins to be issued by the Perth Mint. Under the Currency Act 1965, these determinations must detail the coins' standard composition, weight, allowable variation, design, and dimensions (sections 13(2), 13A(1)). The coins are designed to commemorate the 90th anniversary of the first Australian and New Zealand Army Corps, the 100th anniversary of Rotary International, and the 60th anniversary of the end of World War II. Each coin has unique characteristics: for instance, the 90th anniversary coin of the Australian and New Zealand Army Corps will be available in 1/4oz gold, 1oz silver, and base metal, while the Rotary International coin will be in 1oz silver, and the end of World War II coin will be in 1oz pure gold and 1oz pure silver. All coins will feature an effigy of Her Majesty Queen Elizabeth II on the obverse and will include specific commemorative designs. These determinations impose certain obligations on the Perth Mint. Firstly, they must adhere strictly to the specifications provided, including the coin composition, weight, and design. For example, the 1/4oz gold coin commemorating the 90th anniversary of the first Australian and New Zealand Army Corps must depict a specific image and include the names of soldiers killed during the war. The coins must be minted with precision to meet the allowable variations from the standard weight. Additionally, the Mint must ensure that the designs and images are approved by relevant parties, such as Rotary International for the commemorative coin marking its 100th anniversary. These determinations ensure that the coins not only meet legal standards but also appropriately commemorate the intended events and figures. Failure to comply with the specifications outlined in these determinations can lead to significant legal consequences. The Currency Act 1965 and the Acts Interpretation Act 1901 provide that a determination made by the Treasurer is a disallowable instrument, meaning that Parliament can annul it (sections 13(6), 13A(4), 46A). Non-compliance with the specifications could potentially render the coins illegal tender, leading to financial penalties and legal action. While the determinations do not explicitly state specific penalties for non-compliance, breaches of such legal requirements can result in civil or criminal liability, depending on the severity and intent of the breach. Given the commemorative nature of these coins, any deviation from the specified designs or characteristics could not only be financially punitive but also disrespectful to the events and individuals they honour.