Explanatory Statement
Currency Act 1965
Currency (Royal Australian Mint) Determination (No. 5) 2016
Under paragraph 13(2)(b) and subsection 13A(1) of the Currency Act 1965, the Minister for Small Business 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. Each item in the table below explains a corresponding item in Part 1 of Schedule 1 to this determination.
This determination is a disallowable instrument for the purposes of section 42 of the Legislation Act 2003.
Items 1 | $2 Aluminium Bronze Coin – Lest We Forget ‘C’ Mint mark
Reverse A central circle containing a stylised representation of a part of the ceiling at the Australian War Memorial Hall of Remembrance. Surrounding that central circle, a pattern of yellow, green, blue and indigo coloured stripes, wherein the stripes are superimposed on 3 concentric circles. The design includes a circle of raised beads. Surrounding those beads is an ornamental border containing 4 lunes and representations of mosaic tiles. On the left, there is a mint mark comprising the letter “C”. This letter denotes the Royal Australian Mint in Canberra. The design also includes the initials of the designer Tony Dean “TD” and the inscriptions “LEST WE FORGET” and “TWO DOLLARS”.
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 inscription, in numerals, of a year. The obverse design includes the initials of the designer Ian Rank-Broadley ‘IRB’. |
Item 2 | 2c Copper, Tin and Zinc Coin – Stuart Devlin Exhibition
Reverse A representation of a kangaroo with a joey in her pouch, leaning towards the ground. The design includes the number “2”.
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 inscription, in numerals, of a year. The obverse design includes the initials of the designer Ian Rank-Broadley ‘IRB’. |
Item 3 | $1 Silver Coin – Year of the Rooster
Reverse A representation of a rooster, soil and bamboo. Superimposed on that bamboo there is a representation of the Chinese character pronounced “jī” under the Pinyin system and meaning rooster. The design includes the inscriptions ‘50’, “ONE DOLLAR” 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’ and the inscription, in numerals, of a year. The obverse design includes the initials of the designer Ian Rank-Broadley ‘IRB’. |
Item 4 | 50c Copper and Nickel Coin – Sir Jack Brabham
Reverse On the left there is a representation of Sir Jack Brabham facing right. On the right there is a stylised representation of an 8 lane road, wherein the lanes are coloured in either green, gold or left plain. The design includes a representation of a person driving a BT19 racing car with the number “16” displayed on the side and nose the car. The design also includes the inscriptions “50”, “SIR JACK BRABHAM”, “F1”, “WORLD CHAMPION” and “1959.60.66” and a stylised representation of the initial of the designer Aaron Baggio “AB”.
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 inscription, in numerals, of a year. 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 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 (No. 5) 2016 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 Minister for Small Business, in accordance with paragraph 13(2)(b) and subsection 13A(1) of the Currency Act 1965.