Beautiful coin! I love it's grade!
I tend to classify this error as " major, gapped off centre, type 2". Major because the edge of the off strike is beyond the lettering; gapped, well, because there is a gap, and type 2 because the core is set off centre during the strike process. If you check the paper Bill Cross and I published in the CNA journal, you will see pictures of the type1, where the ring is bored off centre but the core is set normally.
Note that the offcentering is towards 10:00 obverse. This is a frequent orientation for the 1996. There are some "hours" and face combinations that I never saw. There are technical reasons for it.
In my PERSONAL OPINION, and according to everything I know, these errors are less frequent (and more spectacular) than the more popular 1999 twoonie mule.
Thanks Fenian! A very desirable coin indeed.