Currency (Royal Australian Mint) Determination 2004 (No. 5)

Overview

The Currency (Royal Australian Mint) Determination 2004 (No. 5) was enacted to provide specific specifications for Australian coins under the authority of the Currency Act 1965. This Determination was made by ROSS CAMERON, the Parliamentary Secretary to the Treasurer, and it outlines the details for the design, composition, weight, and dimensions of various coins issued by the Royal Australian Mint. The objective of this Determination is to standardise the specifications of Australian currency, ensuring consistency and recognisability across different coin denominations. This Determination plays a crucial role in maintaining the integrity and functionality of Australia's currency system by clearly defining the characteristics of each coin, thus facilitating trade and commerce. The Determination ensures that the coins are not only aesthetically pleasing but also durable and easily distinguishable, thereby preventing counterfeiting and enhancing the overall efficiency of the currency system.

Scope and Application

The Currency (Royal Australian Mint) Determination 2004 (No. 5) specifies the detailed standards for the physical attributes and designs of certain coins minted by the Royal Australian Mint. It applies to coins specified in Schedule 1, which includes the 5 cent, 10 cent, 20 cent, 50 cent, 1 dollar, and 2 dollar coins. These specifications cover the coins' denominations, standard compositions, weights, dimensions, and designs. The application of this Determination is confined to the coins listed in Schedule 1, without affecting any other determinations regarding coin specifications. The Determination operates nationally within Australia, as it is made under the Currency Act 1965, an Act of the Commonwealth of Australia. This legislative instrument does not specify any exclusions, exemptions, or thresholds, and its application is not extended or restricted by subordinate instruments.

Key Provisions

The Currency (Royal Australian Mint) Determination 2004 (No. 5) sets out the specifications for various coins issued by the Royal Australian Mint, under the authority of the Currency Act 1965. Section 3 specifies the denomination, standard composition, standard weight, allowable variation, dimensions, and design of each coin, while section 4 clarifies that these specifications do not affect any other determination of coin specifications. The commencement of the Determination is provided in section 2, which states that it commences on the date of its notification in the Gazette. Under the Determination, the Royal Australian Mint is obligated to adhere to the specifications outlined in Schedule 1 for each coin. This includes ensuring that each coin meets the specified denomination, standard composition, standard weight with allowable variation, dimensions, and design. The coins must also have the specified shape and edge type, and the obverse and reverse designs must be as described. These specifications ensure that the coins are uniform in their physical characteristics and design, which is important for their use as legal tender. Failure to comply with the specifications set out in the Determination may result in legal consequences. While the Determination itself does not explicitly state any offences, penalties, or consequences for non-compliance, the Currency Act 1965 provides a framework for enforcement. Offences under the Currency Act may be subject to penalties as prescribed by the Act, and non-compliance with the Act may result in criminal or civil proceedings. The maximum penalties for offences under the Currency Act may vary depending on the specific offence, but they can include fines and imprisonment. The Determination, therefore, serves as a critical component of the legal framework governing the issuance of coins in Australia, ensuring that they meet the necessary standards for their use as legal tender.