Currency (Royal Australian Mint) Determination 2000 (No. 6)

Overview

The Currency (Royal Australian Mint) Determination 2000 (No. 6) was enacted to specify the design and specifications of certain coins, particularly those commemorating significant events such as the Sydney 2000 Olympic Games. This legislative instrument was made by the Minister for Financial Services and Regulation under the authority granted by the Currency Act 1965. The determination sets out the standard composition, weight, dimensions, and design for specific coins, ensuring consistency and adherence to the minting standards. The policy objective behind this determination is to maintain the integrity and recognisability of Australian currency by clearly defining the specifications for commemorative coins, thereby facilitating their circulation and acceptance as legal tender. This determination does not alter the specifications of any other coins, thereby maintaining the established standards for non-commemorative coins.

Scope and Application

The Currency (Royal Australian Mint) Determination 2000 (No. 6) establishes detailed specifications for the production of coins with a denomination of one dollar, incorporating certain metals such as copper, aluminium, zinc, and tin. This Determination applies to any entity involved in the minting of these coins, ensuring consistency in weight, dimensions, and design across all produced coins. The Determination does not alter any previous specifications set for other coins, thereby ensuring that each coin type retains its unique characteristics. The jurisdictional reach of this Determination is nationwide, applying across Australia, and is effective from the date of its gazette. It does not specify any exclusions or exemptions, thereby applying uniformly to all relevant parties and transactions involving the specified coins. The Determination can be extended or modified through subordinate instruments, allowing for flexibility in response to changes in minting technology or design requirements.

Key Provisions

The Currency (Royal Australian Mint) Determination 2000 (No. 6) establishes precise specifications for the production of certain coins under the Currency Act 1965. Specifically, section 3 of the Determination details the standard weight, allowable variation, dimensions, and design for coins of a specified denomination and composition, as outlined in Part 1 of Schedule 1. For instance, a one-dollar coin is described as having a standard weight of 9.00 grams with an allowable variation of ± 0.28 grams, a diameter of 25.10 mm, a thickness of 2.80 mm, a circular shape, a plain edge with a particular inscription, and specific obverse and reverse designs. Under this Determination, the Royal Australian Mint is required to adhere strictly to the specifications outlined in Schedule 1 when minting the designated coins. This includes ensuring that the coins meet the exact weight, dimensions, and design criteria, such as the shape, edge inscription, and both obverse and reverse designs. This rigorous standardisation is crucial for maintaining the integrity and uniformity of the nation's currency. Failure to comply with the specifications set out in this Determination could result in legal consequences. While the Determination itself does not explicitly detail specific offences, penalties, or consequences for non-compliance, breaches of the Currency Act 1965 could potentially lead to civil or criminal penalties. For example, unauthorised minting of coins or the production of coins that do not meet the required specifications could be considered an offence under the Act, with potential penalties including fines and imprisonment. The exact penalties would depend on the specific provisions of the Currency Act 1965 and any related regulations or subsidiary legislation.