ASIC Class Order [CO 02/0261]

Australian Securities and Investments Commission

Corporations Act 2001 - Subsection 741(1) - Variation

Under subsection 741(1) of the Corporations Act 2001 and with effect from the commencement of Schedule 1 to the Financial Services Reform Act 2001, the Australian Securities and Investments Commission hereby varies Class Order [00/44] by:

1. omitting from the heading the word "Law" and substituting the words "Act 2001";
2. omitting from the first paragraph, the words "Corporations Law (the "Law")" and substituting the words "Corporations Act 2001 (the "Act")";
3. omitting from paragraph 1 under the heading "Provisions affected", the words "Corporations Law" and substituting the word "Act";
4. omitting subparagraph 2(d) under the heading "Provisions affected" and substituting the following subparagraph:

"(d) an electronic application form issued and partly completed by a

financial services licensee ("licensee form") where the issuer had

reasonable grounds to believe that the licensee form was distributed

with an electronic disclosure document.";

5.             omitting the definition of "securities dealer" under the heading "Definitions" and substituting the following definition:

""financial services licensee" includes, during the transition period (within the meaning of subsection 1431(1) of the Act) for a regulated principal, a reference to a regulated principal described in item 1 of the table set out in section 1430 of the Act.";

6.             omitting from paragraph 2 under the heading "Conditions" the words "securities dealer" (twice occurring) and substituting the words "financial services licensee";

7.             omitting from paragraph 6 under the heading "Conditions":

(a)          the words "within Australia" and substituting the words "in this jurisdiction"; and

(b)          the word "countries" and substituting the word "places";

8.             omitting from subparagraph 7(c) under the heading "Conditions" the words "securities dealer" and substituting the words "financial services licensee";

9.             omitting from paragraph 12 under the heading "Conditions" the words "securities dealer" and substituting the words "financial services licensee";

10.         omitting from paragraph 13 under the heading "Conditions" the words "securities dealer" (twice occurring) and substituting the words "financial services licensee"; and

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11.         inserting immediately before the date of the instrument the following heading and note:

"This jurisdiction

Note 4: In this instrument, "this jurisdiction" means Australia: Act, ss 5 and 9 (definition of "this jurisdiction").".

Dated this 3rd day of March 2002

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission