The King became the British monarch after his mother's death in September.As the British monarch, he is also the head of state of Australia, New Zealand and 12 other Commonwealth realms outside the United Kingdom. The role is largely ceremonial.The British monarch's portrait has appeared on at least one design in every series of Australian banknotes.However, in September Australia said the image of the new monarch would not automatically replace the Queen on its five dollar notes, and that she might be replaced by Australian figures.

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