Explanatory Statement
Currency Act 1965
Currency (Royal Australian Mint) Determination 2013 (No. 2)
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.
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 | 2013 $2 Copper Aluminium and Nickel Colour Printed Coin – 60th Anniversary of the Queen’s Coronation Reverse A central circle enclosing a stylised representation of St Edward’s Crown. Surrounding the central circle there is a pattern of purple coloured stripes superimposed on 3 concentric circles. The design includes the inscriptions ‘EIIR CORONATION’, ‘60 YEARS’ and ‘TWO DOLLARS’ as well as three representations of a dot. 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’ and the year of issue in Arabic numerals. The obverse design includes the initials of the designer Ian Rank-Broadley ‘IRB’. |
Item 2 | 2013 $2 Copper Aluminium and Nickel Colour Printed ‘C’ Mintmark Coin – 60th Anniversary of the Queen’s Coronation Reverse A central circle enclosing a stylised representation of St Edward’s Crown. Surrounding the central circle there is a pattern of purple coloured stripes superimposed on 3 concentric circles. The design includes the inscriptions ‘EIIR CORONATION’, ‘60 YEARS’ and ‘TWO DOLLARS’ as well as two representations of a dot. The design also includes the letter ‘C’, which denotes the Royal Australian Mint in Canberra. 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’ and the year of issue in Arabic numerals. The obverse design includes 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 2013 (No. 2) 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 2013 (No. 2), enacted under subsection 13A(1) of the Currency Act 1965, was introduced to address the need for detailed specifications of coins proposed for issue by the Royal Australian Mint. This legislation, made by the Parliamentary Secretary to the Treasurer, Bernie Ripoll, outlines the characteristics of the coins, including their composition, weight, design, and dimensions. The objective of this determination is to facilitate the Mint's production of circulating and numismatic coins, ensuring they meet the necessary legal and design standards. The instrument is a disallowable one under section 42 of the Legislative Instruments Act 2003 and is compatible with human rights as it does not engage any applicable rights or freedoms.
Scope and Application
The Currency (Royal Australian Mint) Determination 2013 (No. 2) applies to the Royal Australian Mint, which is tasked with producing Australian legal tender and numismatic coins. It specifies the characteristics of the coins, including their composition, weight, design, and dimensions, for particular commemorative issues. The determination is made under subsection 13A (1) of the Currency Act 1965, and it is applicable from the day after it is registered. Although the instrument does not detail specific exclusions, the Royal Australian Mint generally follows a policy of public submissions for coin designs, indicating that the determination may not cover all design aspects unless specifically addressed. This legislative instrument is a disallowable instrument under the Legislative Instruments Act 2003, meaning it can be subject to disallowance by either House of the Parliament. It is compatible with human rights as declared in the Human Rights (Parliamentary Scrutiny) Act 2011, as it does not engage with any applicable rights or freedoms.
Key Provisions
The main operative sections of the Currency (Royal Australian Mint) Determination 2013 (No. 2) (the Determination) detail the specifications of two coins to be issued by the Royal Australian Mint (subsection 13A(1) of the Currency Act 1965). The coins in question are a $2 copper aluminium and nickel colour printed coin and a $2 copper aluminium and nickel colour printed ‘C’ mintmark coin, both commemorating the 60th anniversary of the Queen’s coronation. The Determination specifies the coins’ characteristics, including the standard composition, standard weight, allowable variation from standard weight, design, and dimensions (subsection 13A(1) of the Currency Act 1965).
The Determination imposes certain obligations on the Royal Australian Mint. These include adhering to the specified characteristics of the coins, such as the standard composition, weight, and design. The Mint must ensure that the coins meet the outlined requirements for production and circulation. The Mint is also responsible for complying with the Currency Act 1965 and any other relevant legislation. Additionally, the Determination indicates that the Mint received no public consultation on the coin designs but did use market-based tools to identify interested parties and gauge interest in the coin themes (subsection 13A(1) of the Currency Act 1965).
There are no specific offences, penalties, or civil or criminal consequences outlined in the Determination itself. However, any breach of the Currency Act 1965 or other relevant legislation by the Royal Australian Mint could lead to penalties as provided for in those statutes. For instance, under the Currency Act 1965, unauthorised production of currency can result in fines and imprisonment. The Determination is a disallowable instrument, and Parliament can disallow it under section 42 of the Legislative Instruments Act 2003. The compatibility statement asserts that the Determination is compatible with human rights, as it does not engage any applicable rights or freedoms and does not raise any human rights issues.