Currency (Royal Australian Mint) Determination 2006 (No. 2) Amendment Determination 2007 (No. 1)

Overview

The Currency (Royal Australian Mint) Determination 2006 (No. 2) Amendment Determination 2007 (No.1) was introduced to amend the specifications for the Australian Artist Series 2007 Kangaroo one dollar CuNi coin, addressing a typographical error in the original specifications. Enacted under subsection 13A(1) of the Currency Act 1965, this amendment was made by the Parliamentary Secretary to the Treasurer on 15 June 2006. The amendment corrects the standard weight and allowable variation for the coin as originally specified in the Currency (Royal Australian Mint) Determination 2006 (No.2). This legislative instrument, governed by section 42 of the Legislative Instruments Act 2003, comes into effect on the day after its registration. The obverse side of the coin, consistent with all Australian legal tender, features an effigy of Her Majesty Queen Elizabeth II. Although stakeholder consultation was conducted for the coin's design, no public consultation was deemed necessary for the specification changes as they do not substantially affect business or competition.

Scope and Application

The Currency (Royal Australian Mint) Determination 2006 (No. 2) Amendment Determination 2007 (No. 1) pertains to the specifications of the Australian Artist Series 2007 Kangaroo one dollar CuNi coin issued by the Royal Australian Mint, under the authority granted by subsection 13A(1) of the Currency Act 1965. This amendment rectifies a typographical error in the coin’s specifications concerning its standard weight and allowable variation, while maintaining all other characteristics of the coin unchanged. It is a legislative instrument governed by section 42 of the Legislative Instruments Act 2003 and takes effect the day after it is registered. The coin itself, featuring an effigy of Her Majesty Queen Elizabeth II on the obverse side, is part of the Mint’s annual collector coin program, for which stakeholder consultation was conducted to ensure suitable themes and designs. Notably, no public consultation was necessary for this specific amendment as it does not materially affect business operations or competition. This amendment applies to the Royal Australian Mint and the specified coin within the Australian legal tender system, with a jurisdictional reach as outlined under the Currency Act 1965. No exclusions, exemptions, or thresholds are explicitly stated in the amendment. The application of this Act can be further extended or restricted through subordinate instruments, as permitted under the legislative framework.

Key Provisions

The main operative sections of the Currency (Royal Australian Mint) Determination 2006 (No. 2) Amendment Determination 2007 (No. 1) pertain to the correction of a typographical error in the specifications for the Australian Artist Series 2007 Kangaroo one dollar CuNi coin (item 6). This Amendment Determination revises the details for the standard weight and allowable variation for the coin, while maintaining all other characteristics unchanged (item 6). This legislative instrument, created under section 42 of the Legislative Instruments Act 2003, comes into effect the day after it is registered. The Currency (Royal Australian Mint) Determination 2006 (No. 2) Amendment Determination 2007 (No. 1) imposes obligations on the Royal Australian Mint to ensure that the revised specifications for the coin are adhered to. This includes producing the coins with the correct standard weight and allowable variation, while keeping all other design and aesthetic elements consistent with the original specifications. The Mint must also ensure that the coins comply with all other relevant legislative requirements, such as those relating to the design and imagery on the coins. There are no specific offences, penalties, or civil/criminal consequences outlined in this Amendment Determination for breaches of the revised specifications. However, the Royal Australian Mint, as a government entity, is expected to comply with all legislative requirements and specifications set out in this and other relevant legislation. Failure to do so could result in potential legal or financial repercussions, as well as damage to the Mint's reputation. The Mint must ensure that the coins produced meet the required standards and specifications to maintain the integrity of the Australian currency system. The Amendment Determination does not require any public consultation for the changes made to the coin specifications, as it does not have a direct or substantially indirect effect on business, nor does it restrict competition. The Mint has already undertaken stakeholder consultation for the coin as part of its annual collector coin program, ensuring that appropriate themes and designs were chosen for the program. This demonstrates the Mint's commitment to engaging with relevant stakeholders while also maintaining the accuracy and integrity of the coin specifications. In summary, the Currency (Royal Australian Mint) Determination 2006 (No. 2) Amendment Determination 2007 (No. 1) revises the specifications for the Australian Artist Series 2007 Kangaroo one dollar CuNi coin to correct a typographical error. The Royal Australian Mint is responsible for adhering to these revised specifications and ensuring compliance with all relevant legislative requirements. Although no specific penalties are outlined for breaches, failure to comply with the requirements could result in legal and financial repercussions. The Mint has already undertaken stakeholder consultation for the coin as part of its annual collector coin program, ensuring that appropriate themes and designs were chosen for the program.