1ASIC Class Order [CO 02/0149]

Australian Securities and Investments Commission
Corporations Act 2001 — Paragraph 1020F(1)(a) — Exemption

Under paragraph 1020F(1)(a) of the Corporations Act 2001 (the “Act”) the Australian Securities and Investments Commission hereby exempts each responsible entity of a registered scheme from sections 1012B, 1012C and 1016A of the Act in the case specified in Schedule A on the condition specified in Schedule B.

SCHEDULE A

The issue or sale of interests in a registered scheme to applicants, otherwise than in response to an application form which was included in or accompanied by a Product Disclosure Statement for the scheme, where the responsible entity reasonably believes the application relates to:

(a) an investment statement as defined in the Securities Act (NZ) 1978 and the Securities Regulations (NZ) 1983 as modified or varied by the Securities Act (Australian Registered Managed Investment Schemes) Exemption Notice 1999 (or such other exemption notice that from time to time may replace, modify or vary that Notice) (“NZ securities provisions”); and

(b) an offer made in New Zealand.

SCHEDULE B

This exemption applies for so long as and on condition that the responsible entity does not issue or permit the issue of a notice or other document in New Zealand relating to the interests if it does not comply with the NZ securities provisions.

Commencement

This exemption takes effect on the commencement of Schedule 1 to the Financial Services Reform Act 2001.

Dated the 7th day of February 2002

Signed by Brendan Byrne
as a delegate of the Australian Securities and Investments Commission