Vol. 140, No. 21 — October 18, 2006

Registration
SOR/2006-234 September 28, 2006

ROYAL CANADIAN MINT ACT

Order Authorizing the Issue and Determining the Composition, Dimensions and Designs of a Twenty-five Cent Circulation Coin

P.C. 2006-1063 September 28, 2006

Her Excellency the Governor General in Council, on the recommendation of the Minister of Transport, pursuant to sections 6.4 (see footnote a) and 6.5 (see footnote b) of the Royal Canadian Mint Act, hereby

(a) authorizes the issue of a twenty-five cent circulation coin, the characteristics of which shall be as specified in item 4.1 (see footnote c) of Part 2 of the schedule to that Act and the diameter of which shall be 23.88 mm; and

(b) determines the design of that coin to be as follows, namely,

REGULATORY IMPACT ANALYSIS STATEMENT

(This statement is not part of the Order.)

Description

The Royal Canadian Mint ("Mint") wishes to produce a twenty-five cent Medal of Bravery circulation coin. However, at present the Royal Canadian Mint is not authorized to produce a coin with this design. Pursuant to sections 6.4 and 6.5 of the Royal Canadian Mint Act, the Governor in Council may, by order, authorize the issue of circulation coins of a denomination listed in Part 2 of the schedule and determine the design of any circulation coin to be issued. Thus, the purpose of this Order is to obtain Governor in Council approval to issue a twenty-five cent circulation coin bearing the design of the Medal of Bravery.

In 2006, the Mint will produce a Medal of Bravery circulation coin as part of its Multi-Year Commemorative Circulation Coin Program that was approved by the government in 2004, specifically that of the three-year Historical Events Program: "Canada's Role in World History".

The twenty-five cent Medal of Bravery circulation coin will pay tribute to the enduring spirit of Canadians who are willing to help others in times of crisis. Every year, the Governor General of Canada awards the Medal of Bravery to Canadians who perform extraordinary acts of courage risking their lives to save or protect others. This coin will be the third in the series with the first and second coins being the Poppy and the Year of the Veteran respectively.

The coin will depict, on the reverse, a design of the Medal of Bravery with the words, starting from the left and going clockwise, "BRAVERY", "2006", "BRAVOURE" and "25 CENTS" around the circumference of the coin. The obverse side will feature the effigy of Her Majesty Queen Elizabeth II by Susanna Blunt with the initials "SB" on the bottom left-hand corner of the neckline with the inscriptions "ELIZABETH II", "CANADA" and "D•G•REGINA" to the left, top and right of the design, respectively and the Mint Mark below the neckline.

Alternatives

Using the traditional twenty-five cent coin design would not meet the objectives of the Multi-Year Program. Therefore, there is no other alternative to the Order.

Benefits and Costs

The Medal of Bravery coin is expected to produce approximately $1.2 million in seigniorage. Additional products featuring the circulation coin will also be launched and are expected to generate additional revenue for the Mint. Seigniorage is the revenue to the Government of Canada from the issue of circulation coins and is equal to the difference between the face value of the coins and the cost to produce, distribute, advertise and promote them.

Consultation

There was no formal consultation held. However, based on the success of previous circulation coins that have been issued ie., Poppy, Year of the Veteran, Breast Cancer, the design change is anticipated to be well received and will have no impact on day-to-day transactions.

Contact

Marguerite F. Nadeau, Q.C.
Vice-President
General Counsel and Corporate Secretary
Corporate and Legal Affairs
Royal Canadian Mint
320 Sussex Drive
Ottawa, Ontario
K1A 0G8
Telephone: (613) 993-1732
FAX: (613) 990-4665
E-mail: nadeau@mint.ca

Footnote a

S.C. 1999, c. 4, s. 3

Footnote b

S.C. 1999, c. 4, s. 3

Footnote c

SOR/2000-161

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