Under subsection 13A (1) of the Currency Act 1965, the Minister for Superannuation and Corporate Law has made a determination regarding the specification of a coin 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 | 2008 $1 Uncirculated Centenary of Quarantine The reverse design features a beagle in harness for quarantine duty and a representation of a piece of luggage in the shape of Australia decorated by iconic luggage labels representing quarantine work of monitoring imports, exports and threats to Australian industry from items that require quarantine inspection. The design also features the inscriptions ‘Centenary of Quarantine 1908 – 2008’; ‘1 DOLLAR’ and the coin designers initials ‘WP’.
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Obverse
Consistent with all Australian legal tender coinage, the effigy of Her Majesty Queen Elizabeth II by Ian Rank-Broadley, together with the year 2008, will appear on the obverse side of the coin.
Public consultation
Item 1 has been produced in conjunction with the Australian Government Department of Agriculture, Fisheries and Forestry.
The coin covered in the determination is 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 this coin as it does not have a direct, or a substantially indirect, effect on business, nor does it restrict competition.
Overview
The Currency Act 1965, enacted by the Commonwealth Parliament, governs the issuance and specifications of Australian currency. The 2008 determination under subsection 13A (1) of the Currency Act addresses the specification of a proposed coin to be issued by the Royal Australian Mint, in this case, the $1 Uncirculated Centenary of Quarantine coin. The determination includes details such as the coin’s composition, weight, design, and dimensions, ensuring they meet the legal requirements set out in the Act. This legislative instrument is a disallowable instrument under the Legislative Instruments Act 2003, meaning it can be disallowed by resolution of either House of Parliament. The coin, part of the Mint’s annual collector coin program, was developed in consultation with the Australian Government Department of Agriculture, Fisheries and Forestry, though no public consultation was conducted on the coin’s specifications due to its limited impact on business and competition.
Scope and Application
The determination made under subsection 13A(1) of the Currency Act 1965 applies to the specification of a particular coin proposed for issuance by the Royal Australian Mint, specifically the 2008 $1 Uncirculated Centenary of Quarantine coin. This Act mandates that the determination detail the coin's characteristics, including its standard composition, weight, allowable weight variation, design, and dimensions. The coin, part of the Mint's annual collector coin program, was developed in consultation with the Australian Government Department of Agriculture, Fisheries and Forestry, ensuring the themes and designs were appropriate. However, the specific specifications of the coin did not undergo public consultation as they do not materially impact business or restrict competition. The determination is a disallowable instrument under the Legislative Instruments Act 2003, which means it can be annulled by either house of Parliament. The determination comes into effect on the day following its registration.
Key Provisions
The main operative sections of the legislation pertain to the specifications of a coin proposed to be issued by the Royal Australian Mint, as detailed in subsection 13A (1) of the Currency Act 1965. This subsection mandates that the determination provided by the Minister for Superannuation and Corporate Law must include comprehensive details of the coin's characteristics. Specifically, these details must encompass the coin's standard composition, standard weight, allowable variation from the standard weight, design, and dimensions. The coin in question, the 2008 $1 Uncirculated Centenary of Quarantine, features a reverse design that includes a beagle in harness for quarantine duty, a representation of a piece of luggage shaped like Australia, and inscriptions marking the centenary of quarantine and the coin's denomination, alongside the designer's initials.
The obligations imposed by the Act on the relevant parties are twofold. Firstly, the Minister for Superannuation and Corporate Law is obligated to provide detailed specifications of the coin, as required by subsection 13A (1). Secondly, the Royal Australian Mint must ensure that the coin adheres to the specifications outlined in the Minister's determination. Additionally, the legislation emphasises the importance of stakeholder consultation in selecting themes and designs for the Mint's annual collector coin program, although it clarifies that no public consultation was necessary for the coin's specifications due to their lack of direct or substantially indirect effect on business or competition.
In terms of legal consequences for breach, the determination made by the Minister is classified as a disallowable instrument under section 42 of the Legislative Instruments Act 2003. This means that either house of the Parliament can review and potentially disallow the determination. Moreover, any failure to comply with the specified requirements of the coin's characteristics could result in legal actions, including potential penalties or enforcement actions under the Currency Act 1965. However, the legislation does not explicitly outline specific maximum penalties for breaches, leaving such consequences to be determined by the relevant courts or authorities.