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 Aluminium Bronze $1 Uncirculated Australia Post Coin) The reverse design consists of a representation of a post box inscribed with the words ‘POST OFFICE’ and the inscriptions ‘ONE DOLLAR’, ‘200 years’ and ‘OF POSTAL SERVICES IN AUSTRALIA’. The obverse design consists of an effigy of Queen Elizabeth II, the initials IRB and is surrounded by the inscriptions ‘ELIZABETH II’ and ‘AUSTRALIA 2009’. |
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Overview
The F2009L01450 determination, made under subsection 13A (1) of the Currency Act 1965, addresses the specification of coins proposed for issuance by the Royal Australian Mint. Enacted by the Minister for Superannuation and Corporate Law, this determination is a disallowable instrument under section 42 of the Legislative Instruments Act 2003. It is mandated that the determination includes comprehensive details of the coins' characteristics, such as composition, weight, allowable weight variations, design and dimensions. This legislative instrument was designed to fill a gap in the regulation of coin specifications, ensuring that coins meet the prescribed standards before entering circulation. The determination, which came into effect on the day after its registration, specifies the design and characteristics of a $1 coin commemorating 200 years of postal services in Australia. The coin features a post box on the reverse with relevant inscriptions and an effigy of Queen Elizabeth II on the obverse, surrounded by appropriate inscriptions.
Scope and Application
The determination made under subsection 13A(1) of the Currency Act 1965 applies to the Royal Australian Mint and concerns the specifications for coins it proposes to issue. This includes detailing the coins' standard composition, weight, allowable variations, design, and dimensions. The determination is specific to the 2009 Aluminium Bronze $1 Uncirculated Australia Post Coin, which features a post box on the reverse and an effigy of Queen Elizabeth II on the obverse, commemorating 200 years of postal services in Australia. The Act operates at the Commonwealth level and applies to entities involved in the minting and issuance of coins within Australia. The determination is a disallowable instrument under the Legislative Instruments Act 2003, meaning it can be subject to disallowance by resolution of either House of the Parliament within the specified period. The determination comes into effect on the day after its registration.
Key Provisions
The main operative sections of the determination, as outlined in subsection 13A(1) of the Currency Act 1965, detail the specifications for coins proposed to be issued by the Royal Australian Mint. These coins are to have a standard composition, standard weight, allowable variation from the standard weight, a specific design, and precise dimensions. For example, the 2009 Aluminium Bronze $1 Uncirculated Australia Post Coin has a reverse design that features a representation of a post box with the words ‘POST OFFICE’ and the inscriptions ‘ONE DOLLAR’, ‘200 years’ and ‘OF POSTAL SERVICES IN AUSTRALIA’. The obverse design includes an effigy of Queen Elizabeth II, the initials IRB, and is surrounded by the inscriptions ‘ELIZABETH II’ and ‘AUSTRALIA 2009’.
The obligations and requirements imposed by this determination on the Royal Australian Mint include adherence to the specifications set forth in the determination. This means that the coins must be manufactured with the specified composition, weight, design, and dimensions as closely as possible. The Royal Australian Mint is also responsible for ensuring that the coins meet the allowable variations from the standard weight, ensuring uniformity and quality control in the production process.
Any breach of the requirements specified in the determination could result in civil or criminal consequences. Under the Currency Act 1965 and the Legislative Instruments Act 2003, failure to comply with the specifications could be considered an offence. While the determination itself does not specify maximum penalties, offences under the Currency Act 1965 can attract significant penalties, including fines and imprisonment. Additionally, as the determination is a disallowable instrument, it can be subject to review and disallowance by Parliament, which could further impact any entities found to be in breach of the determination’s provisions. The determination’s commencement date, the day after it is registered, marks the point at which compliance becomes mandatory.