Overview

The Currency (Perth Mint) Determination 2011 (No. 1) was enacted to comply with subsections 13(2) and 13A(1) of the Currency Act 1965, thereby establishing the standard composition, weight, allowable variation, design, and dimensions of coins proposed for issuance by the Perth Mint. This determination was issued by the Assistant Treasurer, in accordance with the requirements of the Currency Act, and it specifies the characteristics of the coins, including the design elements for the 2011 Prince William and Catherine Middleton Royal Wedding coins. Given that this determination pertains to specific coin designs, which are based on commercial decisions by the Perth Mint, no public consultation was deemed necessary. The determination becomes effective the day after it is registered, and it serves as a disallowable instrument under section 42 of the Legislative Instruments Act 2003.

Scope and Application

The Currency (Perth Mint) Determination 2011 (No. 1) is a legislative instrument made under the Currency Act 1965, which outlines the standard composition and specifications for coins issued by the Perth Mint. This determination applies to coins of specific denominations and addresses their characteristics such as composition, weight, allowable variation, design, and dimensions. The Assistant Treasurer, in exercising the powers granted under subsections 13(2) and 13A(1) of the Currency Act, has specified these details for coins proposed to be issued, including commemorative coins celebrating the 2011 wedding of Prince William and Catherine Middleton. The determination is applicable to entities such as the Perth Mint and covers coins intended for circulation or commercial release. This instrument has a national reach, applying across Australia as it is an extension of the Commonwealth's authority under the Currency Act. The determination is subject to disallowance under the Legislative Instruments Act 2003, and no public consultation was conducted due to the limited public interest and commercial nature of the coin designs. The determination takes effect on the day after it is registered.

Key Provisions

The Currency (Perth Mint) Determination 2011 (No. 1) made under the Currency Act 1965 sets out the specifications for two commemorative coins: a 1oz silver coin and an aluminium bronze coin, both marking the royal wedding of Prince William and Catherine Middleton (s. 1). The determination details the standard composition, weight, allowable variations, design, and dimensions of these coins (s. 2). This determination is mandatory and governs the minting process, ensuring that the coins meet the legal standards specified in the Currency Act. Under this Act, the Assistant Treasurer must ensure that the coins meet the prescribed standards (s. 13(2) and 13A(1)). The obligations imposed by this determination include that the Perth Mint must adhere to the detailed specifications provided. This includes ensuring that the coins are made from the correct materials, have the correct weight, dimensions, and design as outlined in the determination. The Mint must also ensure that the coins comply with any other relevant legal standards pertaining to currency. There are no specific offences, penalties, or consequences mentioned in the determination itself for non-compliance. However, any breach of the Currency Act 1965, including failure to adhere to the specifications outlined in the determination, could result in civil or criminal penalties. Under the Currency Act, penalties for contravening the Act can include fines and, in severe cases, imprisonment. The exact penalties would depend on the specific provisions of the Act breached and the nature of the offence. Additionally, the determination being a disallowable instrument means it can be reviewed and potentially annulled by Parliament, which adds another layer of compliance requirement for the Mint.