Division 16 deals with amendments to the Currency Act. The proposed amendments are necessary to implement the government's decision to eliminate the penny.
They are fairly technical amendments, and they will clarify that the government can redeem coins without “calling them in”. Calling in a coin would have the effect of removing it as legal tender, which is inconsistent with the government's announcement that the penny would retain its value indefinitely and can continue to be used in payments.
The amendments also clarify that the payments for the redemption of the coins, including the associated cost, can be made out of the consolidated revenue fund on the authority of the Minister of Finance.