EXPLANATORY STATEMENT
Currency Act 1965
Currency (Perth Mint) Determination 2009 (No. 1)
Under subsection 13A(1) of the Currency Act 1965, the Minister for Superannuation and Corporate Law has made a determination regarding the specifications of coins proposed to be issued by the Perth Mint.
Subsection 13A(1) of the Currency Act 1965 requires that the determination provide details of coin characteristics including standard composition, standard weight, allowable variation from standard weight, design and dimensions.
A determination made by the Minister for Superannuation and Corporate Law is a disallowable instrument for the purposes of section 42 of the Legislative Instruments Act 2003.
• International Year of Astronomy Silver Proof Coin
The design for the 2009 International Year of Astronomy Silver Proof 1 oz coin features a female looking through a telescope with a male by her side pointing to the sky, with a stylised representation of the Earth’s horizon and a colour-washed background representing the night sky featuring the Southern Cross constellation. The image is encircled by an inscription with the words ‘INTERNATIONAL YEAR OF ASTRONOMY 2009’.
• ANZAC One Dollar Base Metal Coin
The design for the 2009 ANZAC One Dollar Base Metal (Aluminium and Bronze) coin features a former serviceman with a young girl sitting on his lap and a stylised representation of a bugler in the background. The words ‘LEST WE FORGET APRIL 25’ are prominently positioned on the left third of the coin.
• Centenary of Swimming Silver Proof Coin
The design of the Centenary of Swimming Silver proof 1 oz coin features a person swimming freestyle with a colour-washed stylised representation of water, consisting different water sport stances. The official logo of Swimming Australia Limited Centenary is prominently positioned in the upper third of the coin.
• Centenary of Swimming Base Metal Coin
The design of the Centenary of Swimming Base Metal (Aluminium and Bronze) coin features a person swimming freestyle with a colour-washed stylised representation of water, consisting different water sport stances. The official logo of Swimming Australia Limited Centenary is prominently positioned in the upper third of the coin.
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 currency determination as it has limited public interest and the design of the coins is based on the commercial decisions by the Perth Mint.
The Determination commences on the day after it is registered.
Overview
The Currency (Perth Mint) Determination 2009 (No. 1) was enacted to provide specifications for coins proposed to be issued by the Perth Mint, pursuant to subsection 13A(1) of the Currency Act 1965. This determination was made by the Minister for Superannuation and Corporate Law and is a disallowable instrument under section 42 of the Legislative Instruments Act 2003. The determination specifies the characteristics of the coins including standard composition, standard weight, allowable variation from standard weight, design and dimensions. The coins covered in this determination are the 2009 International Year of Astronomy Silver Proof Coin, the 2009 ANZAC One Dollar Base Metal Coin, and the 2009 Centenary of Swimming Silver Proof Coin and Base Metal Coin. The designs of these coins were based on commercial decisions by the Perth Mint, and no public consultation was undertaken due to the limited public interest.
Scope and Application
The Currency (Perth Mint) Determination 2009 (No. 1) applies to the specifications of coins proposed to be issued by the Perth Mint, as mandated by the Currency Act 1965. This determination is made under subsection 13A(1) of the Act and provides detailed characteristics of the coins, including their standard composition, weight, allowable variation from standard weight, design, and dimensions. The coins specified in this determination include the 2009 International Year of Astronomy Silver Proof Coin, the 2009 ANZAC One Dollar Base Metal Coin, and the 2009 Centenary of Swimming Silver Proof Coin and Base Metal Coin. Each coin design is intended to commemorate specific events and features, such as the International Year of Astronomy, the ANZAC Day, and the Centenary of Swimming, with each coin featuring appropriate thematic elements and an effigy of Her Majesty Queen Elizabeth II on the obverse side. The scope of this Determination is limited to the coins issued by the Perth Mint and does not extend to other entities or industries unless specified by further legislation. This determination is applicable across Australia, aligning with the national jurisdiction of the Currency Act 1965. There are no stated exclusions or exemptions in this Determination, which applies to all coins issued in accordance with its specifications. The Determination is a disallowable instrument under the Legislative Instruments Act 2003, which means it can be subject to review and disallowance by Parliament.
Key Provisions
The Currency (Perth Mint) Determination 2009 (No. 1) under subsection 13A(1) of the Currency Act 1965 provides specific details on the characteristics of coins proposed to be issued by the Perth Mint. Section 13A(1) mandates that this determination must include specifications such as the standard composition, standard weight, allowable variation from standard weight, design, and dimensions of the coins. This determination outlines the specifications for four different coins: the 2009 International Year of Astronomy Silver Proof Coin, the 2009 ANZAC One Dollar Base Metal Coin, and the 2009 Centenary of Swimming Silver Proof Coin and Base Metal Coin. Each coin has a unique design, with the obverse side consistently featuring an effigy of Her Majesty Queen Elizabeth II.
The obligations imposed by this Determination on the Perth Mint and any other relevant entities include adherence to the specified coin characteristics. The Perth Mint must ensure that the coins meet the standard composition, weight, allowable variations, design, and dimensions as outlined in the Determination. These specifications are critical to maintaining the integrity and uniformity of Australian legal tender. The Mint must also ensure that the designs and inscriptions, such as the inscriptions on the International Year of Astronomy coin and the words ‘LEST WE FORGET APRIL 25’ on the ANZAC coin, are accurately and prominently featured as specified.
There are no specific offences, penalties, or consequences outlined in the Determination itself for failing to comply with the specifications. However, under the Currency Act 1965, there are broader provisions that could apply to non-compliance with currency regulations. Offences under the Currency Act could lead to criminal penalties, including fines and imprisonment, depending on the severity and intent of the offence. Additionally, the Legislative Instruments Act 2003 provides mechanisms for the disallowance of the Determination if it is found to be inconsistent with the parent Act or if it is otherwise invalid. Non-compliance with the coin specifications could potentially lead to legal challenges and the need for corrective action to ensure that the coins meet the legal standards for Australian legal tender.