Attached is the revised GTCs that address taxation issues for non-Australian 
resident counterparties. These GTCs have received tax clearance and hence all 
approvals have now been given to allow them to be loaded. Enclosed also are 
the procedures that need to be followed when new counterparties are being 
considered. To date we have been vetting potential counteparties in the 
Sydney office. I suggest that the procedures be made available to anyone else 
who may be given this responsibility. 

One new matter has come to light. In July 2000 with the introduction of GST 
in Australia new legislative arrangements will come into place. They will 
require businesses to have an "ABN". It has been suggested that we amend the 
password application to request the counterparty's ABN.