Currency (Royal Australian Mint) Amendment Determination (No. 2) 2016

Overview

The Currency (Royal Australian Mint) Amendment Determination (No. 2) 2016 is an amendment to the Currency Act 1965, introduced to refine the specifications of coins produced by the Royal Australian Mint. This determination was made by the Minister for Small Business, Michael McCormack, under subsection 13A(1) of the Currency Act 1965. The amendments focus on improving the descriptions of the reverse designs of certain coins, ensuring they accurately represent the intended military awards and geographical locations. The determination addresses gaps in the descriptions of coin designs to enhance the quality and recognisability of the coins. Notably, no public consultation was conducted for this instrument; instead, the Mint follows its Coin Design Policy and uses market-based tools to identify interested parties and themes for coin designs. The determination is compatible with human rights, as it does not affect any rights or freedoms declared in relevant international instruments.

Scope and Application

The Currency (Royal Australian Mint) Amendment Determination (No. 2) 2016 applies to the Royal Australian Mint in its capacity to produce circulating and numismatic coins in accordance with the Currency Act 1965. This amendment determination amends the Currency (Royal Australian Mint) Determination (No. 4) 2016 to provide more precise descriptions of coin designs, specifically relating to the reverse design of certain coins to accurately reflect historical military awards and operations. The amendment determination is a disallowable instrument under the Legislation Act 2003 and comes into effect on the day after registration. This instrument does not affect the rights of any person or impose liabilities on any person in respect of actions taken before the date of registration. The amendment determination does not contravene any human rights as recognised or declared in the international instruments listed in the Human Rights (Parliamentary Scrutiny) Act 2011. The determination was made by the Minister for Small Business, Michael McCormack, under subsection 13A(1) of the Currency Act 1965.

Key Provisions

The Currency (Royal Australian Mint) Amendment Determination (No. 2) 2016 amends the specifications for certain coins proposed for issuance by the Royal Australian Mint. This determination, made under subsection 13A(1) of the Currency Act 1965, outlines the characteristics of these coins, including their composition, weight, allowable weight variation, design, and dimensions. It specifies changes to the reverse designs of particular coins to ensure the descriptions are accurate and comprehensive. For instance, it replaces parts of the reverse design descriptions in items 22, 23, and 32 of Schedule 1 Part 2 of the Currency (Royal Australian Mint) Determination (No. 4) 2016 to better represent the intended designs. This amendment serves to enhance the clarity and accuracy of the coin specifications, ensuring that the coins meet the required standards set forth by the Currency Act. The Currency (Royal Australian Mint) Amendment Determination (No. 2) 2016 imposes specific obligations on the Royal Australian Mint. The Mint is required to adhere to the newly defined specifications for the coins, ensuring that the coins produced meet the outlined characteristics. This includes the precise composition, weight, allowable weight variation, design, and dimensions as specified in the determination. By complying with these requirements, the Mint ensures that the coins it produces are of the correct standard and meet the legal requirements set by the Currency Act. Additionally, the Mint must continue to follow its Coin Design Policy, which includes receiving public submissions on coin designs and using market-based tools to identify themes of interest. These obligations ensure that the Mint operates within the legal framework established by the Currency Act and produces coins that are both accurate representations and meet the necessary quality standards. The Currency (Royal Australian Mint) Amendment Determination (No. 2) 2016 does not explicitly outline specific offences, penalties, or consequences for breaches. However, failure to comply with the specifications and requirements set by the Currency Act 1965 and the determination could result in legal repercussions. Breaches of the Currency Act can lead to civil or criminal penalties, including fines and imprisonment, depending on the severity of the offence. The Royal Australian Mint, as the entity governed by this determination, must ensure adherence to the specified standards to avoid any legal consequences. Additionally, the determination is a disallowable instrument under section 42 of the Legislation Act 2003, meaning it can be subject to disallowance by Parliament, further underscoring the importance of compliance with its provisions.