Currency (Royal Australian Mint) Determination 2003 (No. 4)

Overview

The Currency (Royal Australian Mint) Determination 2003 (No. 4) was made under the Currency Act 1965 by Ian Gordon Campbell, the Parliamentary Secretary to the Treasurer, and commenced upon its gazettal on 19 June 2003. This legislative instrument addresses the need to specify the standards for certain coins issued by the Royal Australian Mint. The determination provides detailed specifications regarding the weight, dimensions, and design of coins, ensuring consistency and compliance with the legal standards set forth in the Currency Act. This includes the allowable variations in weight, precise dimensions, and detailed descriptions of the coin's design elements. The policy objective is to maintain the integrity and uniformity of Australia's currency by clearly defining the physical attributes of the coins in circulation.

Scope and Application

The Currency (Royal Australian Mint) Determination 2003 (No. 4) applies to coins specified within its provisions, detailing their denomination, standard composition, standard weight, allowable variation, dimensions, and design. This Determination, made under the authority of the Currency Act 1965, provides the specifications for certain coins that are minted by the Royal Australian Mint. The specified coins, detailed in Schedule 1 of the Determination, include their physical properties and designs, such as the diameter, thickness, shape, edge design, and both obverse and reverse images. The Determination applies nationwide, covering all coins minted by the Royal Australian Mint that meet the specified criteria. It is noteworthy that this Determination does not affect any other Determination of coin specifications. The scope of the Determination is limited to the coins explicitly listed in Schedule 1, and it does not extend to coins not covered by these specifications. The Determination came into effect upon gazettal and remains in force as specified within its provisions.

Key Provisions

The Currency (Royal Australian Mint) Determination 2003 (No. 4) specifies various aspects of a particular coin, namely a $5 coin, under section 3 of the Determination. This includes the coin's denomination, standard composition, standard weight and allowable variation, dimensions, and design (Schedule 1, Part 1). The coin has a denomination of $5 and is composed of copper, zinc, aluminium, and tin (Schedule 1, Part 1, Column 2). The standard weight of the coin is 20.00 grams with an allowable variation of ± 0.50 grams (Schedule 1, Part 1, Column 4). The dimensions of the coin are specified as a diameter of 38.90 millimetres and a thickness of 2.65 millimetres (Schedule 1, Part 1, Columns 1 and 2). The Determination imposes specific obligations on the Royal Australian Mint regarding the production of the $5 coin. The Mint must ensure that the coin meets the specified weight, dimensions, and design criteria outlined in the Determination. The coin must be circular in shape with a continuously milled edge (Schedule 1, Part 2, Columns 3 and 4). The obverse side of the coin must feature an effigy of Queen Elizabeth II and the monogram 'IRB', surrounded by the inscriptions 'ELIZABETH II' and 'AUSTRALIA 2003' (Schedule 1, Part 2, Column 3). The reverse side of the coin must depict a rugby player taking a kick at goal with a rugby ball at their feet, a set of rugby goal posts ahead of the player, and the Rugby World Cup logo comprising a stylised image of a rugby ball, the inscription 'iRB' above the image, and the inscription 'RUGBY WORLD CUP 2003' below the image (Schedule 1, Part 2, Column 4). The coin must also include the inscriptions 'The World in Union' to the left of the goal posts and '5 Dollars' to the right of the goal posts. Failure to comply with the specifications outlined in the Determination may result in various offences and penalties. While the Determination itself does not explicitly state the penalties for non-compliance, breaches of the Currency Act 1965, under which this Determination is made, can lead to civil or criminal consequences. The maximum penalties for contravening the Currency Act can include fines and imprisonment. For example, section 14 of the Currency Act states that any person who counterfeits or falsely makes, alters, or defaces any coin, or knowingly uses or possesses any counterfeit or falsely made, altered, or defaced coin, is liable to a fine not exceeding $10,000 or imprisonment for a term not exceeding two years, or both. Additionally, section 15 of the Currency Act makes it an offence to knowingly import or export any counterfeit or falsely made, altered, or defaced coin, with penalties including fines not exceeding $20,000 or imprisonment for a term not exceeding five years, or both.