Currency (Royal Australian Mint) Determination 2004 (No. 6)

Overview

The Currency (Royal Australian Mint) Determination 2004 (No. 6) was made under subsection 13A(1) of the Currency Act 1965 by Ross Cameron, the Parliamentary Secretary to the Treasurer. This determination was enacted to specify the characteristics of a particular coin to be minted by the Royal Australian Mint. It addresses the need for detailed specifications of coins to ensure consistency and compliance with the Currency Act. The determination aims to provide clarity and precision regarding the physical attributes of the coin, including its denomination, composition, weight, dimensions, and design. It ensures that the specifications outlined do not interfere with other determinations regarding coin specifications. The Currency (Royal Australian Mint) Determination 2004 (No. 6) came into effect on the date it was notified in the Gazette. The determination provides comprehensive details about a specific 50 cent coin, including its denomination, silver content, weight, diameter, thickness, shape, and both obverse and reverse designs. This legislative instrument aims to maintain the integrity and recognisability of Australian currency by setting clear and precise standards for coin production. By doing so, it helps prevent counterfeiting and ensures that the coins meet the legal requirements set forth in the Currency Act.

Scope and Application

The Currency (Royal Australian Mint) Determination 2004 (No. 6) pertains to the specifications of a particular coin, namely the fifty cent coin. It applies to the Royal Australian Mint, which is responsible for minting the coins to meet the standards outlined in the determination. The determination, made under subsection 13A(1) of the Currency Act 1965, is effective from the date it is notified in the Gazette. It specifies the coin's denomination, standard composition, standard weight, allowable variation from that weight, dimensions, and design. The specifications outlined in Schedule 1 are exclusive to the coin itemised and do not impact other coin specifications. This determination underscores the meticulous standards required for Australian currency and the regulatory oversight by the Commonwealth government to ensure consistency and quality in the nation's coinage.

Key Provisions

The Currency (Royal Australian Mint) Determination 2004 (No. 6) outlines the specifications for a particular coin under the Currency Act 1965. Specifically, section 3 of the Determination identifies the specifications of a 50-cent coin, including its denomination, standard composition, weight, dimensions, and design. The coin must be made of at least 99.9% silver, weigh 18.24 grams with an allowable variation of ± 0.4 grams, and have a maximum diameter of 31.65 mm and a maximum thickness of 2.80 mm. The coin's design features an effigy of Queen Elizabeth II on the obverse, with the inscriptions "ELIZABETH II" and "AUSTRALIA 2005", as well as a representation of a koala, a lorikeet, a wombat, and the number "50" on the reverse. This Determination imposes certain obligations on the Royal Australian Mint and potentially other parties involved in the production and circulation of the specified coin. Section 3 requires adherence to the detailed specifications for the 50-cent coin, ensuring that the coin's composition, weight, dimensions, and design meet the standards set out in the Determination. This includes ensuring that the coin is made of the specified percentage of silver, weighs within the allowable range, and features the designated design elements. The Royal Australian Mint, as the entity responsible for minting the coin, must therefore comply with these specifications to produce a coin that meets legal standards. Breaches of the specifications outlined in this Determination may have legal consequences. While the Determination itself does not explicitly detail specific offences or penalties for non-compliance, violations of the Currency Act 1965 or related regulations could result in legal action. Such actions may include fines, imprisonment, or other penalties as prescribed by relevant legislation. It is important for the Royal Australian Mint and any other relevant entities to ensure strict adherence to the specifications to avoid potential legal repercussions.