Vol. 150, No. 22 — November 2, 2016

Registration

SOR/2016-272 October 21, 2016

ROYAL CANADIAN MINT ACT

Order Authorizing the Issuance of Seven Circulation Coins and Determining the Characteristics and Design

P.C. 2016-929 October 21, 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),

REGULATORY IMPACT ANALYSIS STATEMENT

(This statement is not part of the Order.)

Issues

The Royal Canadian Mint (RCM) wishes to produce seven commemorative circulation coins as part of a series entitled My Canada, My Inspiration in celebration of the 150th Anniversary of Confederation. 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 of that Act and determine the design of any circulation coin to be issued.

Background

The RCM 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.

Objectives

The RCM wishes to produce seven circulation coins in celebration of the 150th Anniversary of Confederation. The 25¢ and $2 circulation coins will be produced in coloured and non-coloured versions.

As part of a nationwide public coin design contest, Canadians were asked to submit and vote for coin designs for the following five categories:

These coins will serve as tangible keepsakes of the 150th Anniversary of Confederation.

Description

This Order authorizes the RCM to produce seven commemorative circulation coins featuring designs as follows:

“One-for-One” Rule

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.

Rationale

The 150th Anniversary of Confederation has been identified as a key nation-building milestone by the Interdepartmental Commemorations Committee (ICC) — chaired by the Department of Canadian Heritage — which manages the Government of Canada’s commemorative priorities. Under the ICC’s purview, this anniversary has been identified as a priority commemoration by the Government of Canada.

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.

Coins will be distributed through financial institutions with a portion reserved for RCM-hosted coin exchanges.

Contact

Simon Kamel
Vice-President, Corporate and Legal Affairs 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: kamel@mint.ca