Currency (Royal Australian Mint) Determination 2000 (No. 9)

Overview

The Currency (Royal Australian Mint) Determination 2000 (No. 9) was enacted to address the need for standardised specifications for Australian coins. This legislative instrument was made by Joe Hockey, the Minister for Financial Services and Regulation, under the authority of the Currency Act 1965. The determination came into effect upon gazettal, providing specific details about the standard weight, allowable variations, dimensions, and designs for certain coins. This was intended to ensure uniformity and consistency in the production of Australian currency, while not affecting other specifications for coins as stipulated in other determinations. The overarching objective of this determination is to maintain the integrity and recognisability of Australian legal tender by clearly defining its physical characteristics.

Scope and Application

The Currency (Royal Australian Mint) Determination 2000 (No. 9) is a legislative instrument made under the Currency Act 1965, specifying the technical standards for certain coins issued by the Royal Australian Mint. It applies to coins with particular denominations and standard compositions, as detailed in Part 1 of Schedule 1, which includes specifications such as the standard weight, allowable variations, dimensions, and design features of these coins. The Determination does not affect any other specification determinations for different coins. Its application is confined to the specifications outlined and does not extend to broader regulatory or legal aspects concerning currency issuance or circulation. The Determination's jurisdictional reach is national, aligning with the overarching authority of the Currency Act 1965, which is a Commonwealth Act. The provisions within this Determination are effective immediately upon gazettal and do not mention any exclusions, exemptions, or thresholds. The application of this Determination can be further elaborated or modified through subordinate instruments as deemed necessary by the relevant authority under the Currency Act 1965.

Key Provisions

The Currency (Royal Australian Mint) Determination 2000 (No. 9) sets out specific details for certain coins minted by the Royal Australian Mint. Section 3 of the Determination specifies the denomination, standard composition, standard weight, allowable variation in weight, dimensions, and design of each coin listed in Part 1 of Schedule 1. For instance, the 10-cent coin is made of copper and nickel, weighs 11.30 grams with an allowable variation of ± 0.33 grams, has a diameter of 28.65 mm and a thickness of 2.52 mm, and features an obverse design of an effigy of Queen Elizabeth II and the reverse design of a waratah, among other specifications (Schedule 1, Part 1, Item 1). This Determination imposes obligations on the Royal Australian Mint to adhere to the specifications outlined in the document. The mint must ensure that each coin produced meets the weight, dimension, and design criteria as stipulated. The specifications cover not only the physical properties of the coins but also the designs, which must be consistent with those described in the Schedule. These requirements are intended to maintain the quality and uniformity of the currency in circulation. Failure to comply with the specifications set out in this Determination can lead to serious consequences. While the Determination itself does not explicitly state penalties, the underlying Currency Act 1965 and related regulations may impose fines or other penalties for the minting of coins that do not meet the required specifications. Such non-compliance could result in legal action, financial penalties, or other regulatory measures imposed by the relevant authorities.