Under subsection 13A (1) of the Currency Act 1965, the Minister for Superannuation and Corporate Law 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 requires that the determination provides details of the coins characteristics including standard composition, standard weight, allowable variation from standard weight, design and dimensions.
This determination is a disallowable instrument for the purposes of section 42 of the Legislative Instruments Act 2003 (Subsection 13(6) and 13A (4) of the Currency Act 1965, Section 57 of the Legislative Instruments Act 2003).
The determination commences on the day after it is registered.
Item 1 | $1 Coin (2009 Silver $1 Proof Subscription Coin – The 1852 Adelaide Assay Office Gold Ingot) The obverse design features a replication of the obverse side of 1852 Adelaide Assay Office Gold Ingot in the centre with its original stamping. The obverse design also features the inscription ‘1852 Adelaide Assay Office Gold Ingot’. The obverse design is die numbered. The reverse design features a replication of the reverse side of 1852 Adelaide Assay Office Gold Ingot with the effects of the obverse stamping showing through; an effigy of Queen Elizabeth II, and the initials ‘IRB’, surrounded by the inscriptions ‘ELIZABETH II - AUSTRALIA 2009’; and ‘1 DOLLAR’. |
Item 2 | $5 Coin (2009 Silver $5 Proof International Polar Year 2007-2008 – Aurora Australis Coin) The obverse design features an effigy of Queen Elizabeth II, and the initials ‘IRB’, surrounded by the inscriptions: ‘ELIZABETH II’; ‘AUSTRALIA 2009’; and ‘5 DOLLARS’. The reverse design features a map of Antarctica; the coordinates ‘0◦’, ‘90◦E’ and ‘90◦W’; the International Polar Year logo; a changing holographic representation of the Aurora Australis as a coloured background with a black silhouette of a ship and penguins and a landing party in the foreground. The silhouettes, on changing the angle of viewing, shows three figures and a flag in the foreground and then changes to two birds flying over land and sea. It incorporates the inscriptions: ‘AUSTRALIAN ANTARCTIC TERRITORY’; ‘INTERNATIONAL POLAR YEAR 2007–2008’; and ‘AURORA AUSTRALIS’. |
Overview
The Currency Act 1965, enacted by the Parliament of Australia, was introduced to provide for the issuance and regulation of Australian currency. In 2009, the Minister for Superannuation and Corporate Law made a determination under subsection 13A (1) of the Currency Act, specifying the details of coins to be issued by the Royal Australian Mint. This determination outlines the characteristics of the coins, including their composition, weight, design, and dimensions, and is subject to disallowance under the Legislative Instruments Act 2003. The coins specified in the determination are the 2009 Silver $1 Proof Subscription Coin commemorating the 1852 Adelaide Assay Office Gold Ingot, and the 2009 Silver $5 Proof International Polar Year 2007-2008 Aurora Australis Coin, both of which feature unique designs that reflect significant historical and scientific events. This determination reflects the policy objective to commemorate and celebrate important Australian heritage and international scientific endeavours through the issuance of special edition coins.
Scope and Application
The Currency Act 1965 governs the issuance of coins in Australia, with the Minister for Superannuation and Corporate Law exercising authority under subsection 13A(1) to determine the specifications of coins to be issued by the Royal Australian Mint. The specified characteristics include standard composition, weight, allowable variation, design, and dimensions. This determination is subject to disallowance under section 42 of the Legislative Instruments Act 2003 and becomes effective the day after its registration. The legislation outlines specific coins, such as the 2009 Silver $1 Proof Subscription Coin replicating the 1852 Adelaide Assay Office Gold Ingot and the 2009 Silver $5 Proof International Polar Year 2007-2008 – Aurora Australis Coin, detailing their designs and inscriptions. This Act applies nationally across Australia and does not specify any exclusions, exemptions, or thresholds within the provided text. The application of the Act may be extended or restricted through subordinate instruments, though such details are not elaborated upon in this particular determination.
Key Provisions
The main sections of the determination specify the characteristics of two coins to be issued by the Royal Australian Mint: the 2009 Silver $1 Proof Subscription Coin and the 2009 Silver $5 Proof International Polar Year Coin. According to section 13A (1) of the Currency Act 1965, these coins must adhere to specific details regarding their composition, weight, variation, design, and dimensions. The 2009 Silver $1 Proof Subscription Coin replicates the obverse and reverse sides of an 1852 Adelaide Assay Office Gold Ingot, complete with original stampings and inscriptions. The coin also includes an effigy of Queen Elizabeth II and the initials ‘IRB’, with inscriptions around the edges. The 2009 Silver $5 Proof International Polar Year Coin features an effigy of Queen Elizabeth II and the initials ‘IRB’, with inscriptions detailing the year, country, and coin value on the obverse side. The reverse side includes a map of Antarctica, coordinates, the International Polar Year logo, and a dynamic holographic representation of the Aurora Australis with a silhouette of a ship, penguins, and a landing party.
The determination imposes specific obligations on the parties involved, particularly the Royal Australian Mint, to ensure that the coins are produced according to the detailed specifications provided. This includes adhering to the exact composition, weight, allowable variation, design, and dimensions as outlined in the determination. Any deviation from these specifications could render the coins non-compliant with the requirements set forth by the Currency Act 1965.
Under section 13A (1) of the Currency Act 1965, failure to comply with the specified requirements for coin issuance could result in legal consequences. The penalties for non-compliance are not explicitly stated in the provided text, but generally, the Act allows for enforcement actions against any breaches. In the context of legislative instruments, the determination is subject to disallowance under section 42 of the Legislative Instruments Act 2003, meaning that Parliament can review and potentially reject the instrument if it deems it inappropriate or non-compliant with legislative intent. The commencement of the determination is governed by section 57 of the Legislative Instruments Act 2003, indicating that it takes effect the day after registration.