Currency (Perth Mint) Determination 2010 (No. 1)
4Specification of denomination and standard composition
Start here
Get a plain-English read of 4
Turn the raw legal text into a practical explanation grounded in Currency (Perth Mint) Determination 2010 (No. 1).
4 Specification of denomination and standard composition
(1) For paragraph 13 (2) (a) of the Act, the Act has effect, on and after the day on which this Determination commences, as if the reference in the Schedule to the Act, opposite to the denomination of a coin specified, to the standard composition of coins of that denomination included a reference to the standard composition specified in the table below.
| Denomination of coin | Standard composition |
|---|---|
| $2 | At least 99.9% silver |
| $5 | At least 99.9% silver |
| $15 | At least 99.99% gold |
| $15 | At least 99.9% silver |
| $20 | At least 99.99% gold |
| $25 | At least 91.7% gold |
| $25 | At least 99.99% gold |
| $500 | At least 99.99% gold |
| $1 500 | At least 99.99% gold |
| $1 000 000 | At least 99.99% gold |
(2) The standard compositions mentioned in subsection (1) for a denomination are taken to be specified in the Schedule to the Act in addition to any other standard composition or compositions that are, or are taken to be, specified in the Schedule for that denomination immediately before the day on which this Determination commences.
(3) For paragraph 13 (2) (b) of the Act, the Act has effect, on and after the day on which this Determination commences as if:
(a) there were included in the Schedule to the Act, a reference to the denomination ‘$1 000 000’; and
(b) there were specified in the Schedule to the Act, opposite to that denomination, as the standard composition of a coin of that denomination ‘At least 99.99% gold’.
(4) The determination of the standard composition of a coin under subsection (3) is in addition to the determination of the standard composition of coins under subsection (1).