Currency Regulations (Amendment)

Overview

The Currency Regulations (Amendment) Statutory Rules 1981 No. 199 were enacted in 1981 to amend the Currency Regulations 1966 under the authority of the Currency Act 1965. These regulations were made by the Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, and were designed to update the designs of Australian coins to reflect significant national events and figures. Specifically, these amendments introduced new designs for 50 cent and $200 coins commemorating the marriage of His Royal Highness The Prince of Wales and Lady Diana Spencer in 1981. The regulations sought to address the need to mint coins that honour significant milestones in Australian history and royal events, thereby enriching the cultural and historical significance of the nation's currency.

Scope and Application

The Currency Regulations 1981 (Amendment) made under the Currency Act 1965, apply to the design and production of coins within the Commonwealth of Australia. Specifically, it modifies the designs of coins, particularly those of the 50 cents and $200 denominations that reference the year 1981. This regulation affects entities involved in the minting and production of Australian currency, including the Royal Australian Mint and any private entities authorised to produce coins. The amendment specifies the inscriptions and effigies required for these coins, such as the inclusion of "H.R.H. THE PRINCE OF WALES AND LADY DIANA SPENCER" and their effigies on the 50 cents and $200 coins from 1981. The geographic reach of this regulation is national, applying across all states and territories within Australia. There are no stated exclusions or exemptions within the regulation itself, but its application may be further defined or restricted through subordinate instruments.

Key Provisions

The Currency Regulations 1981 (Amendment) primarily modify the designs of Australian coins, specifically those of the 50 cents and $200 denominations. Regulation 4(d) is revised to reflect the inclusion of new coin designs. For 50 cents coins minted in 1981, the regulation allows two types of designs on the obverse side: either the standard numeral and representation, or a commemorative design featuring the inscriptions 'H.R.H. THE PRINCE OF WALES AND LADY DIANA SPENCER', 'FIFTY CENTS', and an effigy of the Prince of Wales and Lady Diana Spencer. For $200 coins minted in 1981, the obverse side must include the inscriptions 'H.R.H. THE PRINCE OF WALES AND LADY DIANA SPENCER', '200 DOLLARS', and an effigy of the Prince of Wales and Lady Diana Spencer. These amendments impose specific design requirements on minters of Australian currency, particularly for the 50 cents and $200 coins issued in 1981. Minters must ensure that the specified inscriptions and effigies are correctly depicted on the coins to comply with the new regulations. This requirement ensures consistency and recognition of the commemorative coins among the public and collectors. Additionally, the regulation specifies that these design rules do not apply to certain other coins, which must adhere to the previously established designs. Failure to comply with the design specifications stipulated in the Currency Regulations 1981 (Amendment) may result in legal consequences. While the specific penalties are not detailed in the regulation, any breach of currency design standards could potentially lead to civil or criminal penalties under the Currency Act 1965. These penalties could include fines or other enforcement actions taken by the appropriate authorities to ensure compliance with the legislative requirements.