FEDERAL REG

SOR/2017-25: Issue of a Two Dollar Circulation Coin Specifying the Characteristics and Determining the Design — Order Authorizing Royal Canadian Mint Act

REGISTRATION OF FEDERAL REGULATION - VIA PART II OF THE GAZETTE

Registered
February 24, 2017


REGULATORY IMPACT ANALYSIS STATEMENT (This statement is not part of the Order.) Issues The Royal Canadian Mint (RCM) wishes to produce a commemorative $2 circulation coin honouring Canada’s veterans on the occasion of the 100th anniversary of the Battle of Vimy Ridge (First World War). Pursuant to sections 6.4 and 6.5 of the Royal Canadian Mint Act, the Governor in Council may, by order, authoriz... (Click for more)


Published on March 9, 2017

Bill Summary

SOR/2017-25: Issue of a Two Dollar Circulation Coin Specifying the Characteristics and Determining the Design — Order Authorizing Royal Canadian Mint Act

REGULATORY IMPACT ANALYSIS STATEMENT (This statement is not part of the Order.) Issues The Royal Canadian Mint (RCM) wishes to produce a commemorative $2 circulation coin honouring Canada’s veterans on the occasion of the 100th anniversary of the Battle of Vimy Ridge (First World War). 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 a commemorative $2 circulation coin in honour of Canada’s veterans on the occasion of the 100th anniversary of the Battle of Vimy Ridge. This coin will communicate the contributions and sacrifices of our veterans and promote remembrance among Canadians. It will inform and educate Canadians about the meaning, significance, and relevance of Canada’s military history. These coins serve as tangible keepsakes of the contributions and sacrifices of our veterans. Description This Order authorizes the RCM to produce a $2 circulation coin commemorating the 100th anniversary of the Battle of Vimy Ridge. The centre of the coin would depict the Vimy Memorial with the word “VIMY” below it. The coin would also depict a Canadian soldier, in First World War uniform, standing with a bowed head to the left of the Memorial and a Canadian veteran saluting to the right of the Memorial. “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 100th anniversary of the Battle of Vimy Ridge 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: [email protected] Footnote a S.C. 1999, c. 4, s. 3 Footnote b S.C. 1999, c. 4, s. 3 Footnote c R.S., c. R-9 Footnote d SOR/2011-324, s. 1

This Bill does not amend any statutes.

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