1ASIC Class Order [CO 00/0177]

Australian Securities and Investments Commission
Corporations Law — Subsection 741(1)— Exemption

Pursuant to subsection 741(1) of the Corporations Law (the “Law”) the Australian Securities and Investments Commission hereby exempts the class of persons mentioned in Schedule A from subsection 711(6) of the Law in relation to offers mentioned in Schedule B.

SCHEDULE A

Persons responsible for the issue of a prospectus mentioned in Schedule B or who offer for issue shares or debentures to which such a prospectus relates.

SCHEDULE B

Offers of shares or debentures for issue made by a current prospectus registered under the Securities Act 1978 of New Zealand not more than 12 months previously the registration of which has not been cancelled or suspended under that Act and which incorporates all amendments required under that Act.

Dated the 13th day of February 2000

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission