Australian Securities and Investments Commission

Corporations Law Paragraph 601QA(1)(b) - Revocation and Declaration

Pursuant to paragraph 601 QA(1)(b) of the Corporations Law (the Law) the Australian Securities and Investments Commission hereby revokes Class Order 98/1789 and declares that Division 11 (second appearing) of Part 11.2 of the Law applies to a body referred to in subsection 1460(1) of the Law as if paragraph 1460(3)(b) of the Law were replaced by the following paragraphs:

"(b) if the modification removes from the deed a provision that was included to satisfy:

(i)          the requirements of Division 5 of Part 7.12 of the old Law or a previous law corresponding to that Division; or

(ii)       any requirements of the NCSC or another person authorised to approve deeds under a previous law corresponding to that Division; or

(iii)     the conditions of any instrument under subsection 1069(3) or 1084(2) of the old Law or under a previous law corresponding to those subsections; or

(c)             if the modification is incidental to the modifications permitted by paragraphs (a) and (b); or

(d)             if the body reasonably considers the modification is in the best interests of holders of the prescribed interests, is fair as between holders and will not adversely affect holders' rights."

Dated the 12th day of November 1998

Signed by Brendan Byrne

as delegate of the Australian Securities and Investments Commission