David 

I will seek this opinion from PWC and will have then respond both to Susan 
and I.

Heidi




David Minns
23/05/2000 13:44
To: David Forster@ECT
cc: Mark Taylor@ECT, Paul Simons@ECT, Edmund Cooper@ECT, Heidi 
Mason/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan 
Musch/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul 
Smith/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raymond 
Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christian 
Werner/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT 

Subject: AUSTRALIAN WEATHER DOCUMENTATION.  





Dave, attached is our settled form of product description and GTC we have 
prepared for a HDD Australian weather swap. The GTC has been prepared on the 
basis that the GTCs will apply even in instances where there is a Master 
Agreement with the counterparty.     

Susan/Heidi - I  would also like a specific sign off from someone (presumably 
Price WaterhouseCoopers) that the input tax status of commodity derivatives 
(as outlined in the Australian Tax Office Consultation Paper on the 
application of GST to financial services) will extend to weather derivatives.

We are preparing similar documentation for the following, HDD swap, HDD Call 
Option, HDD Put Option, CDD Swap, CDD Call Option and CDD Put Option.

Interested in any feedback.