Overview

The Coinage (Measurement) Bill amends the Coinage Act 1971, updating the methods used to measure the standard weight of coins. It removes restrictions on the types of coins subject to specific weighing methods and allows for more flexible measurement procedures to be established via proclamation.

Description

This bill modifies the Coinage Act 1971. Specifically:

• It removes the exemption for gold coins from the standard weight measurement processes.
• It replaces the current, fixed method of averaging the weight of a sample of coins (up to one kilogram) with a system where the measurement method will be determined by future proclamations issued under section 3 of the 1971 Act.
• It updates section 3 of the 1971 Act to reflect the broader application of proclamation-based weight regulation, encompassing all coin types.

The bill's aim is to provide more flexibility in how the weight of coins is officially measured, adapting to potential changes in minting techniques or requirements.

Government Spending

The bill is not expected to significantly impact government spending. The changes relate to procedural matters around coin weight measurement and do not involve substantial financial implications. No figures are provided in the bill itself.

Groups Affected

The groups most directly affected are:

• The Royal Mint: The bill's changes will affect their coin production and quality control procedures.
• Government Agencies responsible for Coinage: These agencies will need to adapt their procedures for measuring coin weight in line with future proclamations.
• Banks and other financial institutions: Any changes in measurement methods may indirectly affect their handling and validation of coins.

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