Explanatory Statement
Currency Act 1965
Currency (Royal Australian Mint) Determination 2015 (No. 1)
Under paragraph 13(2)(b) and subsection 13A (1) of the Currency Act 1965, the Parliamentary Secretary to the Treasurer, Steven Ciobo, has made a determination regarding the specification of coins proposed to be issued by the Royal Australian Mint.
Paragraph 13(2)(b) and subsection 13A (1) of the Currency Act 1965 require that the determination provides details of the coins’ denomination and 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 | $5 Silver Coin with Gold Plating – Australian Bravery Decoration
Reverse A representation the Cross of Valour medal and clasp. Fanned stripes emanate from each limb of the cross. The design includes a circular border containing 4 representations of a Federation Star and the inscriptions ‘RICHARD JOYES’, ‘TIMOTHY BRITTEN’, ‘ALLAN SPARKES’, ‘VICTOR BOSCOE’ and ‘DARRELL TREE’. The design is finished in gold plating and also includes the inscriptions ‘FIVE DOLLARS’.
Obverse The obverse design is finished in gold plating. The design features a stylised representation of the George Cross medal, clasp and ribbon. Below the cross is a circle enclosing an effigy of Queen Elizabeth II, the inscription, in numerals, of a year, the initials of the designer Ian Rank-Broadley ‘IRB’ and the inscriptions ‘ELIZABETH II’ and ‘AUSTRALIA’. Between each limb of the cross is a stylised representation of a laurel. The background contains 4 raised diagonal lines. The design also includes 4 diagonal lines and the inscriptions ‘LEON GOLDSWORTHY’, ‘GEORGE GOSSE’, ‘BENJAMIN HARDY’, ‘RICHARD RICHARDS’, ‘ERIC BAILEY’, ‘JOHN MOULD’, ‘ERROL EMANUEL’, ‘JONATHAN ROGERS’, ‘JACK CHALMERS’, ‘GEORGE TAYLOR’, ‘RAYMOND DONOGHUE’, ‘ROBERT KAVANAUGH’, ‘STANLEY GIBBS’, ‘MICHAEL PRATT’, ‘PATRICK TAYLOR’, ‘HORACE MADDEN’, ‘HUGH SYME’, ‘ARTHUR BAGOT’, ‘LIONEL MATTHEWS’, ‘FREDERICK MARCH’, ‘WILLIAM MCALONEY’ and ‘RALPH JONES’. |
Consultation
No public consultation was undertaken in relation to the currency determination. The effect of this instrument is to determine the denomination, 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 2015 (No. 1) is to determine the denomination, 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, Steven Ciobo, in accordance with paragraph 13(2)(b) and subsection 13A (1) of the Currency Act 1965.