Federal Register of Legislation - Australian Government

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Determinations/Currency as made
This instrument determines the characteristics of two new collector coins proposed to be issued by the Royal Australian Mint.
Administered by: Treasury
Exempt from sunsetting by the Legislation (Exemptions and Other Matters) Regulation 2015 s12 item 20
Registered 28 Feb 2019
Tabling HistoryDate
Tabled HR02-Apr-2019
Tabled Senate02-Apr-2019
Date of repeal 12 Oct 2019
Repealed by Currency Amendment (Consequential Amendments) Determination 2019

EXPLANATORY STATEMENT

Issued by authority of the Assistant Minister for Treasury and Finance

Currency Act 1965

Currency (Royal Australian Mint) Determination (No. 1) 2019

Subsection 13(2) and section 13A of the Currency Act 1965 (the Act) provide that the Treasurer may, by legislative instrument, determine details of Australian coin characteristics including denomination, standard composition, standard weight, allowable variation from standard weight, design and dimensions.

The purpose of this legislative instrument is to determine the characteristics of two new collector coins proposed to be issued by the Royal Australian Mint.

The Treasurer may authorise the making and issuing of coins specified, or taken to be specified, in the Schedule to the Currency Act 1965.  A payment of money is a legal tender if it is made in coins that are made and issued under the Currency Act 1965.  Through the issue of a currency determination, the Treasurer can add, remove and alter the coin characteristics specified, or taken to be specified, in the Schedule to the Currency Act 1965.

In accordance with section 19 of the Acts Interpretations Act 1901, any Minister in the Treasury portfolio may, by legislative instrument, determine details of Australian coin characteristics.

Details of the legislative instrument are set out in the Attachment.

The legislative instrument commenced on day after it was registered on the Federal Register of Legislation.

The legislative instrument is subject to disallowance under section 42 of the Legislation Act 2003.

Consultation

No public consultation was undertaken in relation to this legislative instrument. The effect of this instrument is to determine details of new Australian coin characteristics which will enable the Royal Australian Mint to continue its production of circulating and numismatic coins.

Members of the public have the opportunity to contact the Royal Australian Mint to present any themes they would like to see commemorated on Australian legal tender. These concepts are then researched and assessed in accordance with the Royal Australian Mint’s Coin Design Policy.  The Royal Australian Mint also uses market based tools to identify interested parties and gauge interest in coin themes.

Statement of Compatibility with Human Rights

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

Currency (Royal Australian Mint) Determination (No. 1) 2019

This Legislative 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.

Overview of the Legislative Instrument

The purpose of this legislative instrument is to determine the characteristics of two new collector coins proposed to be issued by the Royal Australian 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.


 

ATTACHMENT

Details of the Currency (Royal Australian Mint) Determination (No. 1) 2019

This Attachment sets out further details of the Currency (Royal Australian Mint) Determination (No. 1) 2019 (the Determination).

Section 1 – Name

This section specifies the name of the Determination is the Currency (Royal Australian Mint) Determination (No. 1) 2019.

Section 2 – Commencement

This section prescribes that the Determination commences the day after the Determination is registered.

Section 3 – Authority

This section provides that the Determination is made under the Currency Act 1965.

Section 4 – Definitions

This section provides definitions for the purposes of the Determination.

Sections 5 and 6 – Coin characteristics

These sections provide that the coin characteristics set out in Schedule 1 are taken to be specified in the Schedule to the Currency Act 1965.  The Treasurer may authorise the making and issuing coins specified, or taken to be specified by currency determinations, in the Schedule to the Currency Act 1965.  A payment of money is a legal tender if it is made in coins that are made and issued under the Currency Act 1965.

Schedule 1 – Standard composition, standard weight, design and dimensions of coins of specified denominations

Schedule 1 sets out the details of new coin characteristics.  The newly determined coins characteristics are set out below.

$1 Silver Coin – Mob of Roos – Merlion Privy Mark

A stylised representation of 5 kangaroos and the inscription “1 DOLLAR”. The design includes a representation of a mythical creature with the head of a lion and the body of a fish, known officially as the Singaporean Merlion, enclosed by a square.

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” and “AUSTRALIA” and the inscription, in numerals, of a year. The obverse design includes the initials of the designer Ian Rank-Broadley ‘IRB’.

$5 Silver Domed Coin – 50th Anniversary of the Lunar Landing

A lunar landscape including a stylised representation of the surface of the moon, an astronaut, footprints and the Apollo 11 lunar capsule with a curved stripe emanating from that capsule. The design includes a coloured representation of the planet Earth positioned over a curved stripe. The words “50TH ANNIVERSARY OF THE LUNAR LANDING” are superimposed on a curved stripe. The design also includes the inscription “1 oz .999 Ag” and the initials of the designer Adam William Ball ‘AWB’.

Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse side of the coin. The effigy, together with the inscriptions “ELIZABETH II”, “AUSTRALIA 2019” and the initials of the designer Ian Rank-Broadley ‘IRB’ are positioned at the bottom of the face of the coin and enclosed by a circle. In the background and enclosed by a circle, there is a partially obscured representation of a transcript. The design includes a representation of the moon and a representation of the Parkes radio telescope. The telescope is positioned on a stylised representation of a part of the Earth. The design also includes the inscription “FIVE DOLLARS” and the initials of the designer Adam William Ball ‘AWB’.