Australian Securities and Investments Commission

Corporations Act 2001 - Paragraphs 741(1)(a) and 911A(2)(l) – Variation

Under paragraphs 741(1)(a) and 911A(2)(l) of the Corporations Act 2001 (the "Act") and with effect from the commencement of Schedule 1 to the Financial Services Reform Act 2001, the Australian Securities and Investments Commission hereby varies Class Order [00/213] by:

1. omitting from the heading the word "Law" and substituting the words "Act 2001";
2. inserting into the heading the words "and Paragraph 911A(2)(l)" after the words "Subsection 741(1)";
3. omitting from the first paragraph:

(a)        the words "Corporations Law (the "Law")" and substituting the words "Corporations Act 2001 (the "Act")"; and

(b)        the word "Law" (third occurring) and substituting the word "Act";

4.                   inserting after the first paragraph the following paragraph:"

And under paragraph 911A(2)(l) of the Act, ASIC hereby exempts a real estate agent licensed (the "Agent") in a State or Territory in this jurisdiction from the requirement to hold an Australian financial services licence for the provision of financial services in relation to offers of shares mentioned in Schedule A in the case referred to in Schedule B and where any person to whom the Agent provides the financial services has before those services are provided been advised in writing that the Agent is not licensed under the Act and that the relationship between the Agent and the person is to be governed by the real estate licensing provisions in the relevant State or Territory."; and

5.                   omitting from the definition of "real estate company" under the heading "Interpretation" the words "stock exchange" and substituting the words "prescribed financial market".

Dated this 4th day of March 2002

Signed by Brendan Byrne

as a delegate of the Australian Securities and Investments Commission