AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION
SUBSECTION 341(1) CORPORATIONS LAW
CLASS ORDER
PURSUANT to subsection 341(1) of the Corporations Law ("the Law") and regulation 2M.6.02 of the Corporations Regulations the AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ("ASIC") HEREBY MAKES THE FOLLOWING ORDERS:
First Order
This order varies ASIC Class Order 98/1418 dated 13 August 1998 by:
(i) Inserting the words "and regulation 2M.6.02 of the Corporations Regulations" after the words "("the Law")" in the first paragraph;
(ii) Deleting the word "and" appearing at the end of the fourth subparagraph in the first paragraph;
(iii) Replacing the comma at the end of the fifth subparagraph in the first paragraph with "; and"; and
(iv) Inserting the following subparagraph at the end of the first paragraph:
"- Subsections 327(1) to (5) (the requirement for a company, other than a proprietary company, to appoint an auditor) provided that the Entity is:
(i) a wholly-owned subsidiary of a body corporate as defined in section 9 of the Law; or
(ii) a related body corporate of an Australian bank,".
Second Order
This order varies ASIC Class Order 98/1416 dated 29 July 1998 by:
(i) Inserting "and s.304" immediately after "s.296(1)"; and
(ii) Inserting "in respect of the immediately preceding half-year or the immediately preceding financial year" immediately after the words "disclosing entity" in subparagraph (a)(ii).
Dated the 30th day of October 1998
Signed by George Durbridge
as delegate of the Australian Securities and Investments Commission