Commonwealth Numbered Regulations - Explanatory Statements

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CURRENCY REGULATIONS (AMENDMENT) 1992 NO. 64

Statutory Rules 1992 No. 64

Issued by Authority of the Treasurer

Currency Act 1965

Currency Regulations (Amendment)

Subsections 13(2) and 13(3) of the Currency Act 1965 (the Act) provide for more than one standard composition to be prescribed for each coin denomination specified in the Schedule to the Act. Paragraph 14(2)(b) of the Act provides that a coin to be made and issued by the Treasurer shall be of the standard weight, design and dimensions as prescribed (by regulation) in relation to that coin.

The release of the Royal Australian Mint's $1 Silver Coin was approved by the then Treasurer on 16 August 1991. The Mint is releasing two issues of this coin. A coin fair issue and a standard issue. The coin is featuring on the reverse side a javelin thrower poised to throw, designed by Margaret Priest. This design was approved by the then Treasurer on 16 August 1991.

Consistent with all Australia's legal tender coinage, the traditional effigy of Her Majesty, Queen Elizabeth II will appear on the obverse side of this coin.

The amendment to regulation 4 of the Currency Regulations specifies the design of the coin and the amendment to regulation 7 rectifies the appearance in regulation 7 of 2 subregulations numbered '(9)'.