Vol. 150, No. 8 — April 20, 2016
SOR/2016-59 March 29, 2016
ROYAL CANADIAN MINT ACT
Order Authorizing the Issue of a One Dollar Circulation Coin Specifying the Characteristics and Determining the Design
P.C. 2016-158 March 24, 2016
His Excellency the Governor General in Council, on the recommendation of the Minister of Finance, pursuant to sections 6.4 (see footnote a) and 6.5 (see footnote b) of the Royal Canadian Mint Act (see footnote c), authorizes the issue of a one dollar circulation coin, the characteristics of which are to be as specified in item 2.2 (see footnote d) of Part 2 of the schedule to that Act and the diameter of which is to be 26.5 mm, and determines the design of the coin to be as follows:
- (a) the obverse impression is to 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”, “D•G•REGINA” and “DOLLAR” to the left, right and bottom of the effigy, respectively, and with beading around the circumference of the coin; and
- (b) the reverse impression is to depict, against the outline of a maple leaf, a common loon taking flight, a lasermark maple leaf within a circle above the design, the artist’s initials “DCW” below the design, “2016” to the left of the design, the inscriptions “CANADA” at the top of the coin and “LUCKY LOONIE” and “DOLLAR PORTE-BONHEUR” separated by the logos of the Canadian Olympic Committee and the Canadian Paralympic Committee at the bottom of the coin.
REGULATORY IMPACT ANALYSIS STATEMENT
(This statement is not part of the Order.)
The Royal Canadian Mint (the Mint) wishes to produce a $1 circulation coin as a symbol of Canada’s support for Canadian athletes on the occasion of the 2016 Rio Summer Olympic and Paralympic Games. 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 to that Act and determine their design of any circulation coin to be issued.
The Mint produces commemorative circulation coins as a means to assist in the promotion of Canada, Canadian values, culture and history to Canadians. These special coins raise awareness of celebrations and anniversaries of importance to Canadians and create engagement with the Canadian public.
The Mint wishes to produce a commemorative $1 circulation coin, namely the 2016 Lucky Loonie, as a symbol of Canada’s support for Canadian athletes on the occasion of the 2016 Rio Summer Olympic and Paralympic Games.
This Order authorizes the Mint to produce a commemorative $1 circulation coin depicting a common loon taking flight and the Canadian Olympic Committee and Canadian Paralympic Committee logos. These iconic symbols join together to reflect national pride and united support for our athletes.
This Order does not impose new administrative costs on business. Therefore, the “One-for-One” Rule does not apply.
Small business lens
This Order does not impose new administrative or compliance costs on small business. Therefore, the small business lens does not apply.
This initiative is consistent with Government policies and programs, which provide support for Canadian Olympic and Paralympic athletes (e.g. the Sport Support Program, an initiative of the Canadian Sport Policy 2012).
The Canadian public also demonstrates strong support for their Olympic and Paralympic athletes. In addition to coins being available in circulation change, the program will also be supported by public engagement events to drive awareness and access to the coins.
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 contribute to the overall success of the event being commemorated.
All coins will be distributed through financial institutions.
Corporate and Legal Affairs and Corporate Secretary
Corporate and Legal Affairs
Royal Canadian Mint
320 Sussex Drive