What it does
This instrument, the Currency (Perth Mint) Determination 2005 (No. 2), is a statutory determination made under the Currency Act 1965, specifically invoking subsections 13(2) and 13A(1) of that Act (preamble and cl 3-4). It operates by specifying denominations, minimum metal purities and the technical specifications for a set of Perth Mint coins, and by doing so it alters the operation of the Currency Act “as if” the specified denominations and compositions were included in the Schedule to that Act (cl 3(1)-(2)). The Determination takes effect the day after it is registered (cl 2), and it was signed on 22 June 2005 by the Parliamentary Secretary to the Treasurer.
Mechanically, the Determination does three things:
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It adds two denominations into the operation of s 13(2) of the Currency Act: the denomination “Thirty thousand dollars” with a standard composition of “at least 99.99% gold” and the denomination “Three hundred dollars” with a standard composition of “at least 99.9% silver” (cl 3(1)-(2)). The text uses the “as if” formulation, meaning the Currency Act is to have effect from commencement as though those references had been in its Schedule.
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It establishes that each item in Schedule 1 to this Determination specifies, for each coin listed, the coin’s standard weight and allowable variation, the coin’s dimensions and the coin’s designs , doing so under the authority of s 13A(1) of the Currency Act (cl 4). In short, Schedule 1 supplies the detailed technical and design specifications for the coins.
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It makes explicit that the specifications in Schedule 1 do not affect any other determination of the specifications of a coin (cl 5). That is, these specifications are not said to supersede or repeal other existing determinations.