ATTACHMENT B

EXPLANATORY STATEMENT

Issued by authority of the Assistant Minister to the Treasurer

Currency Act 1965

Currency (Perth Mint) Determination (No. 3) 2017

Under subsection 13A(1) of the Currency Act 1965, the Assistant Minister to the Treasurer has made a determination regarding the specifications of coins proposed to be issued by The Perth Mint.

Subsection 13A(1) of the Currency Act 1965 requires that the determination provide details of coin characteristics including standard composition, standard weight, allowable variation from standard weight, design and dimensions.

A determination made by the Assistant Minister to the Treasurer is a disallowable instrument for the purposes of section 42 of the Legislation Act 2003.

2018 Australian Koala – Mother and Baby – Silver Investor Coin

The design on the 2018 Australian Koala – Mother and Baby (2oz) silver bullion coin, consists of a representation of a koala with its joey on its back, perched on a branch with leaves superimposed over radial lines. The coin includes the initials of the designer Aleysha Howarth “AH”.

2018 The Jewelled Phoenix – Gold Collector Coin

The design on the 2018 The Jewelled Phoenix (10oz) gold proof coin, consists of stylised representations of a flowering paulownia tree, butterflies, diamond inserts in the background and in the foreground a Chinese phoenix with diamond inserts. The coin includes the following inscriptions “THE JEWELLED PHOENIX”, the Chinese pictograph pronounced “fèng” under the Pinyin system and meaning phoenix and the initials of the designer Aleysha Howarth “AH”.

2018 Dragon – Rectangle – Gold Investor Bar

The design on the 2018 Dragon – Rectangle (1oz) gold bullion bar, consists of stylised representations of a dragon, a fireball and in the background stylised representations of wind, clouds and water. The coin includes the initials of the designer Ing Ing Jong “IJ”.

2018 Year of the Dog – Coloured – Silver Collector Coin

The design on the 2018 Year of the Dog – Coloured (2oz) silver proof coin, consists of circular lines immediately inside the rim enclosing a representation of a coloured German shepherd and its pup lying in the grass next to a rock and peony flowers in the background. The coin includes the following inscriptions “Year of the Dog”, the Chinese pictograph pronounced “gou” under the Pinyin system and meaning dog and the initials of the designer Ing Ing Jong “IJ”.

PUBLIC CONSULTATION

The Perth Mint has undertaken consultation among its network of Australian and international wholesale distributors. Authorised Australian distributors of The Perth Mint products are consulted regularly during business meetings and participation at the Australian Numismatic Dealers’ Association Coin, Banknote and Stamp shows.  Likewise, international distributors are consulted during a schedule of individual meetings hosted during the World Money Fair held in Berlin and the American Numismatic Association’s World’s Fair of Money.

Limited consultation is conducted with external parties due to the confidentiality of coin themes and artwork, due to the risk of competitors viewing the innovations and potentially releasing similar coins into the market prior to the release.

Members of the public have the opportunity to contact The Perth Mint to present any themes they would like to see commemorated on Australian legal tender. These concepts are then researched and presented to The Perth Mint’s sales and marketing department for consideration and feedback.

STATEMENT OF COMPATIBILITY WITH HUMAN RIGHTS

Prepared in accordance with Part 3 of the Human Rights (Parliamentary Scrutiny) Act 2011

Currency (Perth Mint) Determination (No. 3) 2017

This Legislative Instrument is compatible with the human rights and freedoms recognised or declared in the international instruments listed in section3 of the Human Rights (Parliamentary Scrutiny) Act 2011.

Overview of the Legislative Instrument

The purpose of this Legislative Instrument is to determine the weight, denomination, design, dimensions and composition of 4 new numismatic coins to be released by The Perth Mint. 

Human rights implications

This Legislative Instrument does not engage any of the applicable rights or freedoms.

Conclusion

This Legislative Instrument is compatible with human rights as it does not raise any human rights issues.