Currency Regulations (Amendment)

Overview

The Currency Regulations 2 (Amendment) Statutory Rules 1981 No. 3441 were enacted to update the physical characteristics of Australian coins in alignment with the Currency Act 1965. Made under the authority of the Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, these Regulations serve to specify the standard weights, dimensions, and allowable remedies in respect of the weight of coins. The Regulations were introduced to ensure that the currency reflects contemporary events and national significance, exemplified by the inclusion of designs commemorating the XII Commonwealth Games held in Brisbane in 1982. The Regulations not only define the physical attributes of coins but also provide for the legal tender status of coins minted under these specifications. The formal amendments to the Currency Regulations were published in the Commonwealth of Australia Gazette on 27 November 1981.

Scope and Application

The Currency Regulations 1981 (Amendment) pertain to the Currency Act 1965, which applies to the Commonwealth of Australia, governing the design, weight, and dimensions of Australian currency coins. The regulations specify the physical characteristics of coins, including their standard weights, diameters, thicknesses, and allowable weight remedies, as detailed in the Schedule. This legislative instrument targets all entities involved in the production, distribution, and use of Australian currency coins, ensuring compliance with the specified standards. The regulations are applicable nationally across Australia, providing uniformity in currency design and physical attributes. However, the specific exclusions and exemptions are not explicitly stated within the provided text, and the application may be further extended or restricted through subordinate instruments. These subordinate instruments could potentially introduce additional regulations or modify existing ones, thereby influencing the scope and application of the Currency Act 1965 within the Australian legal framework.

Key Provisions

The Currency Regulations 1981 (Amendment) establish several key provisions concerning the physical characteristics and designs of Australian coins. Regulation 3 specifies the standard weight of each coin, as outlined in the Schedule, to ensure consistency and adherence to legal standards under section 13 of the Currency Act 1965. Regulation 4 details the designs of coins issued in 1982, particularly those commemorating the XII Commonwealth Games in Brisbane. For example, the 50 cents coin must bear the inscriptions "XII COMMONWEALTH GAMES BRISBANE" and "50 CENTS", along with a specific symbol and map representation. Similarly, the $10 coin must include the same inscriptions and a distinct design involving a sunburst and shields. Regulation 5 sets the dimensions of coins, ensuring that the diameter and thickness adhere to the specifications provided in the Schedule. Regulation 6 outlines the allowable remedy in respect of weight, which varies according to the coin denomination. These Regulations impose specific obligations on the entities responsible for minting and issuing Australian coins. They must ensure that the coins conform to the prescribed weights, dimensions, and designs as outlined in the Regulations and the Schedule. Any deviation from these specifications may render the coins non-compliant with the Currency Act 1965. Minting authorities are required to meticulously follow these standards to maintain the integrity and legal tender status of the coins. Failure to comply with these Regulations can result in significant consequences. Under section 14 of the Currency Act 1965, any person who manufactures or distributes coins that do not meet the specified standards may be subject to penalties. Although the exact penalties are not detailed in the Regulations themselves, the Act provides a framework for imposing fines or other penalties for non-compliance. The severity of the penalty may depend on the nature and extent of the breach, but it is clear that adherence to these standards is critical to avoid legal repercussions.