Explanatory Statement
Currency Act 1965
Currency (Royal Australian Mint) Determination 2012 (No. 5)
Under subsection 13A (1) of the Currency Act 1965, the Parliamentary Secretary to the Treasurer, Bernie Ripoll, has made a determination regarding the specification of coins proposed to be issued by the Royal Australian Mint (RAM).
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.
Item 1 | 2012 Remembrance Day $2 Copper Aluminium and Nickel Coin Reverse A central circle containing a representation of a poppy flower superimposed on the words ‘REMEMBRANCE DAY’ repeated and presented in 11 rows as well as the words ‘LEST WE FORGET’ in inverse order, repeated and presented in 11 rows. The design includes two representations of a poppy flower and the inscriptions ‘TWO DOLLARS’ and ‘REMEMBRANCE’. Obverse Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin together with the inscriptions ‘ELIZABETH II’, ‘AUSTRALIA 2012’ and the initials of the designer Ian Rank-Broadley ‘IRB’. |
Item 2 | 2013 Eastern Grey Kangaroo $1 Silver Colour Printed Coin Reverse A coloured image of a patch of grass and a kangaroo with a joey in its pouch. The design includes a representation of a hilly landscape with trees. The design includes the artist’s impression of leaves, a representation of the contour of leaves, a stylised representation of the initials of the designer Aaron Baggio ‘AB’ and a circular border containing the inscriptions ‘EASTERN GREY KANGAROO’ and ‘1 oz .999 Ag’. Obverse Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin together with the inscriptions ‘ELIZABETH II’, ‘AUSTRALIA 2013’, ‘. 1 DOLLAR .’ and the initials of the designer Ian Rank-Broadley ‘IRB’. |
Consultation
No public consultation was undertaken in relation to the currency determination. The effect of this instrument is to determine the weight, design and dimension of coins to enable the Royal Australian Mint to continue its production of circulating and numismatic coins. The Mint receives public submissions on coin designs and determines appropriate designs in accordance with its Coin Design Policy. The Mint used market based tools to identify interested parties and gauge interest in coin themes.
Commencement
The determination commences on the day after it is registered.
Statement of Compatibility with Human Rights
This instrument is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section 3 of the Human Rights (Parliamentary Scrutiny) Act 2011. The purpose of the Currency (Royal Australian Mint) Determination 2012 (No.5) is to determine the weight, design and dimension of circulating and numismatic coins. This instrument does not engage any of the applicable rights or freedoms. This instrument is compatible with human rights as it does not raise any human rights issues. This determination has been made by the Parliamentary Secretary to the Treasurer, Bernie Ripoll, in accordance with subsection 13A (1) of the Currency Act 1965.
Overview
The Currency (Royal Australian Mint) Determination 2012 (No. 5) was enacted to specify the details of coins proposed to be issued by the Royal Australian Mint. This determination was made by the Parliamentary Secretary to the Treasurer, Bernie Ripoll, under subsection 13A (1) of the Currency Act 1965. The primary objective of this determination is to outline the characteristics of the coins, including their composition, weight, allowable variations, design and dimensions. The Mint is responsible for ensuring that these coins meet the standards set out in this determination to facilitate the ongoing production of both circulating and numismatic coins. This legislative instrument is a disallowable instrument under section 42 of the Legislative Instruments Act 2003 and has been deemed compatible with human rights as it does not engage any of the applicable rights or freedoms.
Scope and Application
The Currency (Royal Australian Mint) Determination 2012 (No. 5) applies to the Royal Australian Mint and the coins it produces, specifically addressing the specifications for two coins, the 2012 Remembrance Day $2 coin and the 2013 Eastern Grey Kangaroo $1 coin. This determination is made under subsection 13A (1) of the Currency Act 1965 and outlines detailed characteristics such as the composition, weight, design, and dimensions of the coins. It serves to ensure that the coins meet the legal requirements for Australian legal tender and numismatic coins. This determination is applicable nationally, covering the entire Commonwealth of Australia, and it comes into effect on the day after its registration. The scope of the determination is limited to the specified coins and does not extend to other types of coins or currency matters, ensuring that the Mint can proceed with the production of these coins in accordance with the outlined specifications.
Key Provisions
The Currency (Royal Australian Mint) Determination 2012 (No. 5) outlines the specifications for two coins proposed for issuance by the Royal Australian Mint (RAM) (section 1). Specifically, the determination details the characteristics of the coins, including their composition, weight, allowable variations in weight, design, and dimensions (subsection 13A (1) of the Currency Act 1965). The coins specified in this determination are the 2012 Remembrance Day $2 Copper Aluminium and Nickel Coin and the 2013 Eastern Grey Kangaroo $1 Silver Colour Printed Coin. Each coin has distinct reverse and obverse designs, with the obverse side featuring an effigy of Her Majesty Queen Elizabeth II and the reverse side featuring unique designs relevant to their respective themes.
The Currency Act 1965 imposes obligations on the RAM to produce coins that conform to the specifications detailed in the determination. The RAM is responsible for ensuring that the coins meet the prescribed standards for composition, weight, and design. The Act mandates that the RAM adhere to the outlined dimensions and design elements, as specified in the determination, to maintain the integrity and uniformity of Australian legal tender coinage.
Failure to comply with the specifications outlined in the determination may result in legal consequences. While the determination itself does not specify particular offences, penalties, or civil/criminal consequences for non-compliance, the Currency Act 1965 and associated regulations may provide for sanctions in such cases. Generally, any breach of the Currency Act could lead to civil or criminal penalties, depending on the severity and intent of the violation. The maximum penalties for offences under the Currency Act can include substantial fines and, in some cases, imprisonment, reflecting the seriousness of counterfeiting and other currency-related offences.