Australian Securities and Investments Commission

Corporations Act 2001 - Subsection 341(1) – Variation

Under subsection 341(1) of the Corporations Act 2001 the Australian Securities and Investments Commission varies Class Order [CO 98/100] as follows:

1. in the heading omit "LAW", substitute "ACT 2001";
2. in the first paragraph omit "Corporations Law ("the Law")", substitute "Corporations Act 2001 ("the Act")";
3. in the first paragraph omit "the Law" (second occurring), substitute "the Act";
4. under the heading "SCOPE OF RELIEF" omit "Law" (twice occurring), substitute "Act"; and
5. under the heading "PRESCRIBED AMOUNTS":

(a) omit subparagraphs (iv) to (viii), substitute:

"(iv)  remuneration of executive officers which is required to be disclosed pursuant to paragraphs 6.1 and 6.2 of accounting standard AASB 1034 "Financial Report Presentation and Disclosures" ("AASB 1034");

(v)             remuneration of auditors which is required to be disclosed pursuant to paragraph 5.3 of AASB 1034;

(vi)          amounts relating to any equity-based compensation plans required to be disclosed in accordance with paragraphs 6.4 to 6.9 of accounting standard AASB 1028 "Employee Benefits";

(vii)        details required to be disclosed in the directors' report pursuant to paragraphs 300(1)(d) and (g), subsections 300(4), (8), (9), (11) and (12), and paragraphs 300(13)(a) and 300A(1)(c) of the Act; and

(viii)      any amounts required to be disclosed pursuant to accounting standard AASB 1046 "Director and Executive Disclosures by Disclosing
Entities","; and

(b) in the subparagraph commencing "one tenth of one cent" omit "11 and 16",  substitute "8.1 and 17.1".

Dated this 15th day of July 2004

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission