EXPLANATORY STATEMENT
Currency Act 1965
Currency (Perth Mint) Determination 2005 (No. 3) Amendment Determination 2006 (No. 1)
Under subsection 13A(1) of the Currency Act 1965, the Parliamentary Secretary to the Treasurer made a determination in late 2005 regarding the specifications of coins proposed to be issued by the Perth Mint. The determination was Currency (Perth Mint) Determination 2005 (No. 3).
As required by subsection 13A(1), the determination must provide details of the coins’ characteristics including standard composition, standard weight, allowable variation from standard weight, design and dimensions. However, the description of items 57 to 66 of Currency (Perth Mint) Determination 2005 (No. 3) did not include the necessary information relating to the year of minting.
Therefore, a correction to the description of the obverse designs of the coins in that determination has been made. Specifically, schedule 1, item 57 to 66 of Currency (Perth Mint) Determination 2005 (No. 3) have been corrected so that the description of the obverse design now shows the year of minting — 2006.
Currency (Perth Mint) Determination 2005 (No. 3) Amendment Determination 2006 (No. 1) has been drafted to operate retrospectively to ensure that any coins made and issued by the Perth Mint under the Currency (Perth Mint) Determination 2005 (No. 3) were made in accordance with the Currency Act 1965. Retrospectivity will not disadvantage anyone, including individuals that may have already purchased the coins. Rather it will provide certainty about the legal status of all released coins.
Such a determination is a disallowable instrument for the purposes of section 42 of the Legislative Instruments Act 2003 (section 13A(4) of the Currency Act 1965, section 57 of the Legislative Instruments Act 2003).
The explanatory statement for Currency (Perth Mint) Determination 2005 (No. 3) provided a full description of the coins that were approved. The details surrounding the ‘Figures of Note’ coins have been replicated in full below to provide complete information on the coins.
This amendment determination only corrects the omission of the details on the year of minting on a specific set of coins.
• Figures of Note: Portrait of H.M. Queen Elizabeth II
The coin illustrates design features of the one dollar note between 1966 and 1974. The image of the silver and gold-plated silver (1 oz) coins features a representation of a portrait of H.M. Queen Elizabeth II as originally represented on the one dollar note with a colour washed background.
• Figures of Note: Portraits of John Macarthur and William James Farrer
The coin illustrates design features of the two dollar note between 1966 and 1974. The image of the silver and gold-plated silver (1 oz) coins features a representation of the portraits of John Macarthur and William James Farrer as originally represented on a two dollar note with a colour washed background.
• Figures of Note: Portraits of Sir Joseph Banks and Caroline Chisholm
The coin illustrates design features of the five dollar note between 1967 and 1974. The image of the silver and gold-plated silver (1 oz) coins features a representation of the portraits Sir Joseph Banks and Caroline Chisholm as originally represented on a five dollar note with a colour washed background.
• Figures of Note: Portraits of Francis Greenway and Henry Lawson
The coin illustrates design features of the 10 dollar note between 1966 and 1974. The image of the silver and gold-plated silver (1 oz) coins features a representation of the portraits of Francis Greenway and Henry Lawson as originally represented on a 10 dollar note with a colour washed background.
• Figures of Note: Portraits of Charles Kingsford Smith and Lawrence Hargrave
The coin illustrates design features of the 20 dollar note between 1966 and 1974. The image of the silver and gold-plated silver (1 oz) coins features a representation of the portraits of Charles Kingsford Smith and Lawrence Hargrave as originally represented on a 20 dollar note with a colour washed background.
Obverse
Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse sides of the coins.
Public consultation
No public consultation was undertaken in relation to the amending currency determination as it made a minor technical amendment.
The determination commences on 2 December 2005.