Vol. 142, No. 26 — December 24, 2008

Registration

SOR/2008-324 December 12, 2008

ROYAL CANADIAN MINT ACT

Order Authorizing the Issue and Determining the Composition, Dimensions and Designs of a One Dollar Circulation Coin

P.C. 2008-1931 December 12, 2008

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^a of the Royal Canadian Mint Act (see footnote b), hereby

(a) authorizes the issue of a one dollar circulation coin, the characteristics of which shall be as specified in item 2.1 (see footnote c) of Part 2 of the schedule to that Act and the diameter of which shall be 26.5 mm; and

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

(i) the obverse impression shall depict the effigy of Her Majesty Queen Elizabeth II by Susanna Blunt, with the initials “SB” on the bottom left-hand corner of the neckline, the inscriptions “ELIZABETH II”and “D•G•REGINA” to the left and right of the design, respectively, the Mint Mark below the neckline and with beading around the circumference of the coin, and

(ii) the reverse impression shall depict a design of the Montreal Canadiens logo® against a background with the number “100” and horizontal lines, the years “1909” and “2009” to the right and left of the logo, respectively, and the words “CANADA” and “DOLLAR” above and below the design, respectively.

REGULATORY IMPACT
ANALYSIS STATEMENT

(This statement is not part of the Order.)

Description

The Royal Canadian Mint wishes to produce a coin of one-dollar denomination to celebrate hockey as one of our national values through the commemoration of the 100th Anniversary of the founding of the Montreal Canadiens hockey club officially known as “Le Club de hockey Canadien.” However, at present the Royal Canadian Mint is not authorized to produce coins with the proposed new 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 one-dollar coin bearing a commemorative design to mark the 100th Anniversary of the founding of “Le Club de hockey Canadien.”

This Commemorative Circulation Coin Program is in direct support of the official celebrations of the centennial of “Le Club de hockey Canadien.” Details of the official program can be found at: http://canadiens.nhl.com/team/app?articleid=333384& page=NewsPage&service=page.

The unveiling of the coin design would be in early December 2008 and the launch of the coin would be in early March 2009. The coins would be distributed through a special arrangement with a retail partner as well as through other financial institutions. The retail partner would be selected through a Request for Proposal (RFP) process which is currently in progress.

The objectives of the program include providing Canadians with an exciting program to celebrate our history, values and culture and heighten their interest in circulation coins. The use of circulation coinage to commemorate, celebrate or promote events of national significance or interest has proven to be very popular with the general public. Because these coins are available at face value and circulate widely, public demand is high with many coins being collected and taken out of circulation. Commemorative circulation coin programs create important benefits by contributing to the overall success of the event being celebrated as well as generating additional seigniorage (revenues for the government).

Alternatives

Using the traditional one-dollar coin design would not meet the objectives of the Commemorative Circulation Coin Program. Therefore, there is no other alternative to the proposed Order-in-Council.

Consultation

There was no formal consultation held. However, based on the success of previous circulation coins that have been issued i.e., 2008 Lucky Loonie, 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
Email: nadeau@mint.ca

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

Footnote b
R.S., c. R-9

Footnote c
SOR/2007-177

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