EXPLANATORY STATEMENT
Issued by authority of the Assistant Minister for Treasury and Finance
Currency Act 1965
Currency (Perth Mint) Determination (No. 2) 2019
Subsection 13(2) and section 13A of the Currency Act 1965 (the Act) provide that the Treasurer may, by legislative instrument, determine details of Australian coin characteristics including denomination, standard composition, standard weight, allowable variation from standard weight, design and dimensions.
The purpose of this legislative instrument is to amend previously determined details of Australian coin characteristics of a collector coin being issued by The Perth Mint. The instrument amends the Currency (Perth Mint) Determination (No. 1) 2019.
The Treasurer may authorise the making and issuing of coins specified, or taken to be specified, in the Schedule to the Currency Act 1965. A payment of money is legal tender if it is made in coins that are made and issued under the Currency Act 1965. Through the issue of a currency determination, the Treasurer can add, remove and alter the coin characteristics specified, or taken to be specified, in the Schedule to the Currency Act 1965.
In accordance with section 19 of the Acts Interpretations Act 1901, any Minister in the Treasury portfolio may, by legislative instrument, determine details of Australian coin characteristics.
Details of the legislative instrument are set out in the Attachment.
The legislative instrument commenced on day after it was registered on the Federal Register of Legislation.
The legislative instrument is subject to disallowance under section 42 of the Legislation Act 2003.
Consultation
No public consultation was taken on this amending legislative instrument. The effect of this legislative instrument is to adjust the determined explanation of the obverse design of a coin to enable The Perth Mint to continue its production of collector coins.
Members of the public have the opportunity to contact The Perth Mint to present any themes they would like to see commemorated on Australian legal tender. These concepts are then researched and presented to The Perth Mint’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 (No. 2) 2019
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 amend previously determined details of Australian coin characteristics of a collector coin being issued by The Perth Mint. The instrument amends the Currency (Perth Mint) Determination (No. 1) 2019.
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.
ATTACHMENT
Details of the Currency (Perth Mint) Determination (No. 2) 2019
Section 1 – Name
This section specifies the name of the Determination is the Currency (Perth Mint) Determination (No. 2) 2019 (the Amending Determination).
Section 2 – Commencement
This section prescribes that the Amending Determination commences the day after it is registered.
Section 3 – Authority
This section provides that the Amending Determination is made under the Currency Act 1965.
Section 4 – Schedules
This section provides that each instrument identified in a Schedule to the Amending Determination is amended or repealed in accordance with this Amending Determination.
Schedule 1 – Amendments
Amendment of Currency (Perth Mint) Determination (No. 1) 2019
The amendment to the Currency (Perth Mint) Determination (No. 1) 2019 corrects a typographical error in the way the explanation of the obverse of specified coin is expressed.
These errors occurred due to an administrative error of the Perth Mint.