Notice of Withdrawal
1
Product Ruling PR 1999/54 is withdrawn with effect from today.
2
The arrangement, as implemented, is materially different on a number of grounds from that described in the Ruling, including: (1) the project used unfunded bridging finance for a significant number of investors. This method of financing was not disclosed in the application for the Product Ruling; and (2) the acceptance of Bartercard credits which contravened clause 6 of the Project Deed and paragraph 24 of Product Ruling PR 1999/54.
3
As a result there is no class of persons to whom the Ruling applies.