Application by Pasminco Limited (Administrators Appointed)

The Panel advises that is currently considering submissions received in relation to an application by the Administrators of Pasminco in relation to the possible restructure of the Pasminco group of companies by one or more Deeds of Company Arrangement under Part 5.3A of the Corporations Act. The application relates to the decision by ASIC on 4 February 2002 to refuse the Administrators' application for an exemption from section 606 of the Corporations Act. The Administrators have applied to the Panel under section 656A of the Act for a review of ASIC's decision.