The information below is a summary only. Before investing in any
security you should consult the full prospectus or a financial
advisor.
| ASX CODE: |
ACDHB |
| Issue type: |
Unsecured Subordinated Notes |
| Country: |
Australia |
| Issue currency: |
AUD |
| Number on issue: |
100,000 (as per prospectus dated 15 April 1996) |
| Face value: |
$100 per note. |
| Maturity date: |
31 July 2006 |
| Redemption details: |
Australian Central shall after the Maturity Dateredeem a Series
2 Note in Issue by paying to the Noteholder the principal and accrued
interest thereon to the Maturity Date.
Australian Central is not obliged to redeem a Series 2 Note in Issue unless and untill:
a) the surrender to Australian Central of the relevant Certificate (if any
Certificate is on issue); and
b) if the Noteholder is a person resident out of Australia, the obtaining
of all neccessary approvals under any statute as may then exist; and
c) if required by Australian Central, the Noteholder delivering to
Australian Central such form of reciept and discharge as Australian
Central may require.
(Nor, subject to Clauses 5 and 6 of the Deed, shall interest accrue
after the due date for repayment of the principal represented by any
Series 2 Notes if the reason for failure to repay such principal on
such due date is the failure to satisfy the conditions above. Nothing
in the above affects the obligations of Australian Central, if so
directed by the Trustee, to pay to the Trustee the principal and
interest in respect of the Series 2 Notes in Issue by such Noteholder.)
Any Series 2 Notes in Issue repaid or redeemed by Australian Central
are cancelled and shall not be re-issued.
|
| Interest rate: |
Australian Central shall pay interest according to the principal
for the time being paid up on the Series 2 Notes in Issue in respect
whereof the interest is declared at the rate of 10.5% per annum.
The rate of interest may not be varied, except by a special resolution of
Noteholders.
Interest accrues daily and shall be calculated in arrears.
The first payment of interest shall be calculated on a daily basis for
the period from the day after the date upon which Series 2 Notes are
issued to 30 September 1996 and payable on 1 October 1996.
Interest calculated shall be payable on Series 2 Notes in respect of
the interest period commencing on the day after the date to which the
interest payment last preceding was calculated up to and including the
next succeeding date to which interest is to be calculated or to the
Maturity Date (whichever is earlier).
A transfer of Series 2 Notes in Issue shall not pass the right to any
interest payable thereon after the date of such transfer and therefore
the registration of the transfer.
Interest is payable on interest that has become payable but is unpaid.
Interest ceases to accrue in respect of Series 2 Notes redeemed or cancelled.
|
| Interest payment dates: |
Interest is payable quarterly in arrears on each 1 July, 1 October,
1 January and 1 April (or, if not a Business Day, on the next Business Day) |
| Books close Date (Record Date): |
Interest is payable to Noteholders as at a books closing date
being the 8th calender day prior to and inclusive of the date of payment.
The securities are marked 'ex-interest' for SEATS trading purposes on
the open of business 4 days prior to the Record Date. These dates can
be subject to change, and consequently should be confirmed by
contacting your broker, the Issuer or the Issuer's registrar. |
| Winding up: |
Despite any other provision in the Deed, if Australian Central
is being wound up, the payment of principal and interest on Series 2
Notes in Issue shall be postponed and deferred and neither the Trustee
nor Noteholders shall have the right to prove in the liquidation of
Australian Central in respect of the principal and interest on Series
2 Notes in Issue unless, until and to the extent only that all other
unsecured liabilities of Australian Central Including withdrawable
share capital in Australian Central (other than liabilities of
Australian Central in respect of the Series 2 Notes in Issue or
Notes issued under the credit union Prospectus dated 6 June 1994)
shall have been paid. All Series 2 Notes in Issue rank Equally
between themselves. Series 2 Notes in Issue rank equally with
Notes issued under the credit union's Prospectus dated 6 June 1994. |
| Further Details: |
Please refer to full prospectus dated 15 April 1996. |
