Overview

The Currency Act 1965, enacted by the Australian Parliament, governs the production and circulation of legal tender within Australia. The Act was introduced to provide a framework for the regulation of currency, ensuring that coins meet certain standards and specifications. In this context, the Parliamentary Secretary to the Treasurer, under the authority granted by subsection 13A(1) of the Currency Act 1965, has made a determination regarding the specifications of two proposed coins to be issued by the Royal Australian Mint. The determination outlines the characteristics of these coins, including their composition, weight, design, and dimensions, which are essential to maintaining the integrity and functionality of the nation's currency. The coins, which are part of the Mint’s annual collector coin program, were subject to stakeholder consultation to ensure the themes and designs selected were appropriate, although no public consultation was required for the specifications themselves as they do not significantly impact business or competition. This determination, which becomes effective the day after its registration, serves as a disallowable instrument under the Legislative Instruments Act 2003.

Scope and Application

The determination made under subsection 13A(1) of the Currency Act 1965 pertains specifically to the specifications of certain coins proposed for issuance by the Royal Australian Mint. The coins in question are part of the Mint's annual collector coin program, and the determination outlines the detailed characteristics required for these coins, including their composition, weight, allowable variance from standard weight, design, and dimensions. The determination applies to these particular coins and their designs, which include a representation of the Scouts Australia logo and the 1921 Kookaburra Penny, along with other inscriptions and the mandatory effigy of Her Majesty Queen Elizabeth II on the obverse side. The determination is effective from the day following its registration and is subject to disallowance under section 42 of the Legislative Instruments Act 2003. It is worth noting that while stakeholder consultation was undertaken to ensure appropriate themes and designs for the coins, no public consultation was conducted regarding the coins' specifications as they do not significantly impact business or competition.

Key Provisions

The main operative sections of this legislation are subsections 13A (1) and 13A (4) of the Currency Act 1965, which specify the details of the coins proposed to be issued by the Royal Australian Mint, including coin characteristics such as composition, weight, design and dimensions (subsection 13A (1)). The determination made by the Parliamentary Secretary to the Treasurer is subject to disallowance under section 42 of the Legislative Instruments Act 2003 (subsection 13 (6) of the Currency Act 1965, section 57 of the Legislative Instruments Act 2003). The determination becomes effective the day after it is registered. The Act imposes certain obligations on the parties involved, primarily the Royal Australian Mint, to ensure that the coins meet the specified characteristics. This includes adhering to the standard composition, weight, allowable variation, design and dimensions as outlined in the determination. Additionally, the Mint must ensure that the coins feature the required inscriptions and designs, such as the effigy of Her Majesty Queen Elizabeth II on the obverse side. There are no explicit offences, penalties, or consequences mentioned in the legislation for breach of the specified coin characteristics. However, the determination being a disallowable instrument suggests that it could be subject to review and possible disallowance if found to be inappropriate or not in accordance with the relevant Acts. The implications of disallowance would depend on the specific circumstances and the governing legislation. In summary, the legislation outlines the specifications for two particular $1 coins to be issued by the Royal Australian Mint, including their design and dimensions. The Mint must ensure these coins meet the specified requirements, and the determination is subject to disallowance if necessary. No explicit penalties are mentioned for breach of the specified coin characteristics, but the disallowable nature of the instrument suggests potential consequences if the determination is found to be inappropriate.