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PAN AUSTRALIAN CREDIT (VICTORIA)

Deposits

Exemption Date - 13 March 1991

ACTUAL INCOME AND ASSET DETAILS TO BE HELD

Asset Value

Effective Date

10%

of the face value of the investment

18 March 1992

25%

of the face value of the investment

13 March 1991

Income Value

0%

no actual income is being paid

13 March 1991