Overview

The Currency Act 1965, as amended, addresses the specifications for coins issued by the Royal Australian Mint, and the determination made under subsection 13A(1) of the Act sets forth the detailed characteristics of the coins, including their composition, weight, design, and dimensions. The determination is a disallowable instrument under the Legislative Instruments Act 2003, which means it can be reviewed and potentially disallowed by Parliament. This particular determination specifies the details of a $1 coin commemorating the 60th anniversary of Australian peacekeeping, including its reverse design and inscriptions, as well as the obverse design featuring the effigy of Her Majesty Queen Elizabeth II. The enacting body, the Parliamentary Secretary to the Treasurer, ensured that the coin adheres to the established legal requirements while reflecting significant national themes, although public consultation was not deemed necessary due to the limited impact on business and competition.

Scope and Application

The determination made under subsection 13A(1) of the Currency Act 1965 pertains to the specifications of coins to be issued by the Royal Australian Mint, specifically detailing the characteristics of the 2007 $1 Uncirculated 60th Anniversary of Australian Peacekeeping coin. This determination applies to the Mint as the entity responsible for producing and issuing the coin, and it outlines the coin's standard composition, weight, allowable variations, design, and dimensions. The coin is part of the Mint's annual collector coin program, which includes a reverse design symbolising Australia’s humanitarian aid and peacekeeping efforts internationally, along with inscriptions commemorating the 60th anniversary of Australian peacekeeping. The obverse side of the coin features the effigy of Her Majesty Queen Elizabeth II and the year 2007, consistent with all Australian legal tender coinage. Although stakeholder consultation was undertaken to choose appropriate themes and designs, no public consultation was conducted regarding the coin's specifications as it was determined not to have a direct or substantially indirect effect on business or restrict competition. This determination is a disallowable instrument under section 42 of the Legislative Instruments Act 2003, and it comes into effect on the day following its registration.

Key Provisions

The key provisions of the legislation, as outlined in the determination under subsection 13A (1) of the Currency Act 1965, specify the characteristics of the coins proposed to be issued by the Royal Australian Mint. This includes the standard composition, standard weight, allowable variation from standard weight, design, and dimensions of the coins. For instance, the 2007 $1 Uncirculated 60th Anniversary of Australian Peacekeeping coin, as detailed in the determination, features a reverse design symbolic of Australia’s humanitarian aid and peacekeeping efforts, with inscriptions commemorating the 60th anniversary of Australian peacekeeping and the coin's denomination. The obverse side displays the effigy of Her Majesty Queen Elizabeth II, consistent with all Australian legal tender coinage, along with the year 2007. This determination is a disallowable instrument under section 42 of the Legislative Instruments Act 2003. The Act imposes specific obligations on the Royal Australian Mint regarding the production and issuance of these coins. The Mint must adhere to the detailed specifications provided in the determination, including the design, inscriptions, composition, weight, and dimensions. These specifications ensure consistency and quality in the minting process. Additionally, the Mint is required to undertake stakeholder consultation to ensure the chosen themes and designs are appropriate, as evidenced by the consultation process for the annual collector coin program. However, the Act does not mandate public consultation for the specific specifications of these coins if they do not have a substantial effect on business or competition. Breach of the requirements outlined in the determination could result in various civil or criminal consequences, depending on the nature and severity of the non-compliance. The Currency Act 1965 and associated regulations may impose penalties for producing or issuing coins that do not meet the specified standards. Although the specific penalties are not detailed in this particular determination, breaches of currency-related legislation can typically result in fines, imprisonment, or both, depending on the severity of the offence. The penalties serve as a deterrent against non-compliance, ensuring that the integrity and quality of Australian coinage are maintained.