EXPLANATORY STATEMENT
STATUTORY RULES 1987. No 196
Issued by the Authority of the Treasurer
CURRENCY REGULATIONS (AMENDMENT)
Sub-section 14(2) (b) of the Currency Act 1965 (the Act) provides that a coin to be made and issued by the Treasurer shall be of the standard weight, design and dimensions as prescribed (by regulation) in relation to that coin.
In the context of launching sales of the 1986 $200 gold coin the Treasurer announced that it would be the last of these coins to feature the standard ‘koala’ design. In its place it is proposed that the 1987 $200 gold coin will feature a special Bicentenary commemorative design depicting Governor Arthur Phillip against a theme of the departure of the First Fleet from Portsmouth in 1787: this design being intended as a prelude to a number of other special Bicentenary designs planned for inclusion on Australia’s coinage in 1988.
The amendment to regulation 4 of the Currency Regulations prescribes the abovementioned design for depiction on the reverse side of the 1987 $200 gold coin pursuant to Sub-section 14(2) (b) of the Act.