Under subsection 13A (1) of the Currency Act 1965, the Parliamentary Secretary to the Treasurer has made a determination regarding the specification of coins proposed to be issued by the Royal Australian Mint.
Subsection 13A (1) of the Currency Act 1965 require that the determination provide details of coin characteristics including standard composition, standard weight, allowable variation from standard weight, design and dimensions.
This determination is legislative instrument for section 42 of the Legislative Instruments Act 2003.
The determination commences on the day after it is registered.
Denomination | Brief Design | Standard Composition |
$5 $5 $5 | 2007 $5 Silver Proof - State and Territory Government series (Item 1) South Australia: Obverse design: An effigy of Queen Elizabeth II by Ian Rank-Broadley, ELIZABETH II , AUSTRALIA 2007 Reverse design: A series of Australian maps showing the development of state boundaries over time; and an outline map of South Australia enclosing repetitions of the word “ SOUTH AUSTRALIA”; and the inscriptions: “ 150 YEARS OF STATE GOVERNMENT” and “ 5 DOLLARS”. 2008 $5 Silver Proof - State and Territory Government series (Item 2) Northern Territory: Obverse design: An effigy of Queen Elizabeth II by Ian Rank-Broadley, ELIZABETH II , AUSTRALIA 2008 Reverse design: A series of Australian maps showing the development of territory boundaries over time; and an outline map of Northern Territory enclosing repetitions of the word “ NORTHERN TERRITORY”; and the inscriptions: “ 30 YEARS OF TERRITORY GOVERNMENT” and “ 5 DOLLARS”. 2009 $5 Silver Proof - State and Territory Government series (Item 3) Queensland: Obverse design: An effigy of Queen Elizabeth II by Ian Rank-Broadley, ELIZABETH II , AUSTRALIA 2009 Reverse design: A series of Australian maps showing the development of state boundaries over time; and an outline map of Queensland enclosing repetitions of the word “ QUEENSLAND”; and the inscriptions: “ 150 YEARS OF STATE GOVERNMENT” and “ 5 DOLLARS”. | Silver (99.9%) Silver (99.9%) Silver (99.9%) |
$1 $1 $10 | 2008 Lunar series- Year of the Rat ( $1 Uncirculated, $1 Silver Proof and $10 Gold Proof ( Item 4 - Item 6) Obverse design: An effigy of Queen Elizabeth II by Ian Rank-Broadley, ELIZABETH II and AUSTRALIA 2008 and 1 DOLLAR. Common Reverse design – A design consisting of a representation a rat and Chinese design elements, Chinese script denoting Year of the Rat and the inscriptions: “2008” and “ YEAR OF THE RAT”. Obverse & reverse design: As above Obverse design: An effigy of Queen Elizabeth II by Ian Rank-Broadley, ELIZABETH II and AUSTRALIA 2008 and 10 DOLLARS. Reverse design – As above | Copper, Aluminium and nickel Silver (99.9%) Gold (99.99%) |
$1 $1 $1 $10 | 2008 Kangaroo series (Item 7- Item 11) Obverse design: An effigy of Queen Elizabeth II by Ian Rank-Broadley, ELIZABETH II and AUSTRALIA 2008 Reverse design: an Australian suburban scene with a stylised representation of a kangaroo holding a football in the foreground; and the inscriptions: “ONE DOLLAR” and “ONE OUNCE FINE SILVER”. The obverse and reverse designs are the same with the exception of the images of the kangaroo plated in gold The obverse and reverse designs are the same with the exception of the inscription on the reverse to read “ONE DOLLAR” The obverse and reverse designs are the same with the exception of the inscription on the reverse to read “TEN DOLLARS” | Silver (99.9%) Silver (99.9%) Partially plated with gold (99.99%) Copper and nickel Gold (99.99%) |
Public consultation
The coins covered in the determination are part of the Mint’s annual collector coin program and stakeholder consultation was undertaken to ensure appropriate themes and designs were chosen for this program. However, no public consultation was undertaken in respect of the actual specifications of these coins as they do not have a direct, or a substantially indirect, effect on business, nor do they restrict competition.
Overview
The Currency Act 1965 was enacted by the Australian Parliament to provide for the regulation and control of currency in Australia. The Act aims to ensure the stability and integrity of the Australian currency system and to provide for the issuance and control of banknotes and coins. The determination under subsection 13A (1) of the Currency Act 1965, made by the Parliamentary Secretary to the Treasurer, specifies the characteristics of coins proposed to be issued by the Royal Australian Mint, including their composition, weight, design, and dimensions. The determination was made in accordance with the Legislative Instruments Act 2003 and commenced on the day after it was registered. The coins covered in the determination are part of the Mint’s annual collector coin program, and while stakeholder consultation was undertaken to ensure appropriate themes and designs were chosen, no public consultation was undertaken in respect of the actual specifications of these coins as they do not have a direct or substantially indirect effect on business, nor do they restrict competition.
Scope and Application
The F2007L01161 determination under the Currency Act 1965 outlines the specifications for certain coins to be issued by the Royal Australian Mint. This legislative instrument, pursuant to section 42 of the Legislative Instruments Act 2003, applies to the proposed characteristics of specific coins, including their composition, weight, design, and dimensions. The coins covered in this determination are part of the Mint's annual collector coin program and include various commemorative designs such as the State and Territory Government series and the Lunar series. This legislation applies to the Royal Australian Mint and any entities involved in the minting of these coins, and it is national in scope as it pertains to the Commonwealth of Australia. The coins specified in the determination are not subject to public consultation regarding their specifications, as they do not have a direct or substantially indirect effect on business or competition. The determination provides detailed specifications for each coin, ensuring consistency and quality in the minting process.
Key Provisions
Under subsection 13A (1) of the Currency Act 1965, the Parliamentary Secretary to the Treasurer has made a determination regarding the specifications of coins proposed to be issued by the Royal Australian Mint (RAM). This determination details the coin characteristics including the standard composition, standard weight, allowable variation from the standard weight, design, and dimensions (subsection 13A (1)). The coins covered in this determination include a series of $5 Silver Proof coins for each state and territory government, a Lunar series of coins for the Year of the Rat, and a Kangaroo series of coins. The specifications for each coin type detail the obverse and reverse designs, as well as the metal composition. The determination is a legislative instrument under section 42 of the Legislative Instruments Act 2003, and it commences on the day after it is registered.
The determination imposes certain obligations on the RAM in relation to the coins specified. Firstly, the RAM must ensure that each coin meets the specified characteristics as outlined in the determination. This includes adhering to the standard composition, weight, and dimensions, as well as incorporating the approved designs. Secondly, the RAM must ensure that the coins are produced in accordance with the relevant standards and specifications to ensure consistency and quality. Thirdly, the RAM must ensure that the coins are appropriately packaged and distributed in line with the Mint’s annual collector coin program. The RAM is also responsible for any necessary quality control measures to ensure the coins meet the required standards.
Failure to comply with the specifications and requirements outlined in the determination may result in civil or criminal consequences. Under the Currency Act 1965, it is an offence to manufacture or distribute coins that do not comply with the specifications set out in the determination. The maximum penalty for such an offence is a fine of up to 10,000 penalty units or imprisonment for up to five years, or both. Additionally, under the Legislative Instruments Act 2003, it is an offence to contravene a legislative instrument such as this determination. The maximum penalty for this offence is a fine of up to 10,000 penalty units. It is important for the RAM to ensure strict compliance with the determination to avoid any legal repercussions.