Australian Securities and Investments Commission Class Order [Co 02/930] (Cth)

Australian Securities and Investments Commission
Corporations Act 2001 — Paragraph 911A(2)(l) — Exemption

Under paragraph 911A(2)(l) of the Corporations Act 2001 ("the Act") the Australian Securities and Investments Commission hereby exempts each person in the class of persons described in Schedule A from the requirement to hold an Australian financial services licence for a financial service they provide of a kind described in Schedule B.

Schedule A

Each company (each a "PDF") which satisfies both of the following:

1. a registration declaration has been made in relation to it under section 14 of the Pooled Development Funds Act 1992 (Cth) and is in force; and

2.         it has entered into an enforceable contract with a licensee for the purpose of administering its investments under which it obtains financial product advice from the licensee prior to it making any decision in relation to a particular financial product or class of financial products or an interest in a particular financial product or class of financial products.

Schedule B

1.         Any financial service that is provided by the PDF making an offer to issue securities of that PDF where the offer satisfies all of the following:

(a)        it is made during the period from 17th August 2002 to 17 August 2003;

(b) it is made to a wholesale client within the meaning of subsection 761G(4) of the Act; and

(c) it is made under an offer document that does not contain any personal advice as defined in subsection 766B(3) of the Act.

2.         Any issue of securities by the PDF which occurs as a result of the acceptance of an offer of the kind referred to in paragraph 1.

Interpretation

For the purposes of this instrument "licensee" means:

1.         a person who holds an Australian financial services licence which authorises it to give financial product advice; or

2. a regulated principal described in item 1 or item 2 of the table contained in section 1430 of the Act.

Dated this 16th day of August 2002

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission