EXPLANATORY STATEMENT
Currency Act 1965
Currency (Perth Mint) Determination 2013 (No. 3)
Under subsection 13A(1) of the Currency Act 1965, the Parliamentary Secretary to the Treasurer 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 Parliamentary Secretary to the Treasurer is a disallowable instrument for the purposes of section 42 of the Legislative Instruments Act 2003.
- 2013 Royal Baby - Gold Proof Coin
The design on the 2013 Royal Baby (1/4oz) gold proof coin, consists of a circle made up of a ribbon tied in a bow, securing foliage and encircling a representation of two adult figures with the male figure holding an infant. The coin includes the following inscriptions ‘IN CELEBRATION OF THE BIRTH OF HRH PRINCE GEORGE’, ’22.07.2013’ and the initials of the designer Jennifer McKenna ‘JM’.
2. 2013 Royal Baby - Silver Proof Coin
The design on the 2013 Royal Baby (1oz) silver proof coin, consists of a circle made up of a ribbon tied in bow, securing foliage and encircling a representation of two adult figures with the male figure holding an infant. The coin includes the following inscriptions ‘IN CELEBRATION OF THE BIRTH OF HRH PRINCE GEORGE’, ’22.07.2013’ and the initials of the designer Jennifer McKenna ‘JM’.
3. 2013 Royal Baby – Aluminium Bronze Coin
The design on the 2013 Royal Baby (30mm) aluminium bronze coin, consists of a circle made up of a ribbon tied in a bow and encircling a representation of two adult figures with the male figure holding an infant. The coin includes the following inscriptions ‘IN CELEBRATION OF THE BIRTH OF HRH PRINCE GEORGE’, ’22.07.2013’ and the initials of the designer Jennifer McKenna ‘JM’.
PUBLIC CONSULTATION
GoldCorp Australia has undertaken consultation among its network of Australian and international wholesale distributors. Authorised Australian distributors of Perth Mint products are consulted regularly during business meetings and participation at the Australian Numismatic Dealers’ Association Coin, Banknote and Stamp shows and Licensed Post Office Conferences held throughout Australia. Likewise, international distributors are consulted during a schedule of individual meetings hosted during the World Money Fair held in Berlin and the American Numismatic Association’s World’s Fair of Money.
In some instances when a major program is in concept stage Perth Mint would conduct market research through focus groups to assist us in preparing designs.
Limited consultation is conducted with external parties due to the confidentiality of coin themes and artwork, due to the risk of competitors viewing Perth Mint innovations and potentially releasing similar coins into the market prior to release.
Members of the public have the opportunity to contact Perth Mint to present any themes they would like to see commemorated on Australian legal tender. These concepts are then researched and presented to GoldCorp Australia’s sales and marketing department for consideration and feedback.
STATEMENT OF COMPATIBILITY WITH HUMAN RIGHTS
Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011
Currency (Perth Mint) Determination 2013 (No. 3)
This Legislative Instrument is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011.
Overview of the Legislative Instrument
The purpose of this Legislative Instrument is to determine the weight, dimension and composition of 3 new numismatic coins to be released by the Perth Mint.
Human rights implications
This Legislative Instrument does not engage any of the applicable rights or freedoms.
Conclusion
This Legislative Instrument is compatible with human rights as it does not raise any human rights issues.
Overview
The Currency (Perth Mint) Determination 2013 (No. 3) was enacted to address the need for the Parliamentary Secretary to the Treasurer to provide specifications for coins proposed to be issued by the Perth Mint under subsection 13A(1) of the Currency Act 1965. This determination sets out details such as standard composition, weight, allowable variations, design, and dimensions of the coins. The determination was made by the Parliamentary Secretary to the Treasurer and is a disallowable instrument under the Legislative Instruments Act 2003. The determination specifies the characteristics of three coins: the 2013 Royal Baby (1/4oz) gold proof coin, the 2013 Royal Baby (1oz) silver proof coin, and the 2013 Royal Baby (30mm) aluminium bronze coin. Each coin design features a ribbon encircling two adult figures holding an infant, with inscriptions celebrating the birth of HRH Prince George on 22.07.2013 and the initials of the designer Jennifer McKenna. Consultation with distributors and potential market research were undertaken to inform the coin designs, although limited public consultation occurred due to the confidential nature of the coin themes. This Legislative Instrument was prepared in accordance with the Human Rights (Parliamentary Scrutiny) Act 2011, and it has been determined to be compatible with human rights as it does not engage any applicable rights or freedoms.
Scope and Application
The Currency (Perth Mint) Determination 2013 (No. 3) applies to the Perth Mint, an entity within GoldCorp Australia, concerning the specifications of three new numismatic coins that it proposes to issue. The act mandates the Parliamentary Secretary to the Treasurer to make a determination regarding the coins' characteristics, including their composition, weight, allowable variation from standard weight, design, and dimensions. The legislation operates within the Commonwealth jurisdiction, as it is a subsidiary instrument under the Currency Act 1965. The determination is a disallowable instrument, subject to scrutiny and potential disallowance by Parliament under the Legislative Instruments Act 2003. There are no stated exclusions or exemptions in this particular determination, and it directly governs the specific coins mentioned. Subordinate instruments may extend or further specify the application of the Currency Act 1965, but this determination focuses solely on the three coins commemorating the birth of HRH Prince George.
Key Provisions
The Currency (Perth Mint) Determination 2013 (No. 3) specifies the characteristics of three coins proposed to be issued by the Perth Mint under subsection 13A(1) of the Currency Act 1965 (section 1). This includes the standard composition, standard weight, allowable variation from standard weight, design and dimensions of the coins. This particular determination pertains to a 2013 Royal Baby coin set, which includes a 1/4oz gold proof coin (section 2), a 1oz silver proof coin (section 3) and a 30mm aluminium bronze coin (section 4). The design of each coin features a ribbon tied in a bow, securing foliage and encircling a representation of two adult figures with the male figure holding an infant, with various inscriptions including the date of the birth of HRH Prince George and the initials of the designer Jennifer McKenna (section 2–4). The coins are to be issued in celebration of the birth of HRH Prince George.
The Currency (Perth Mint) Determination 2013 (No. 3) imposes obligations on GoldCorp Australia to consult with its network of Australian and international wholesale distributors in the design and release of the coins (section 6). This includes conducting market research through focus groups and presenting concepts to GoldCorp Australia’s sales and marketing department for consideration and feedback. The Perth Mint also limits consultation with external parties due to the confidentiality of coin themes and artwork, due to the risk of competitors viewing Perth Mint innovations and potentially releasing similar coins into the market prior to release. The public has the opportunity to contact Perth Mint to present any themes they would like to see commemorated on Australian legal tender (section 6).
The Currency (Perth Mint) Determination 2013 (No. 3) does not specify any offences, penalties, or civil/criminal consequences for breach. However, a determination made by the Parliamentary Secretary to the Treasurer is a disallowable instrument for the purposes of section 42 of the Legislative Instruments Act 2003, meaning it can be disallowed by either House of Parliament (section 8).