Australia and New Zealand Banking Group Limited

This licence authorises the licensee to carry on a financial services business to:

provide financial product advice for the following classes of financial products:

deposit and payment products including:

basic deposit products;

deposit products other than basic deposit products; and

non-cash payment products;

derivatives;

foreign exchange contracts;

general insurance products;

debentures, stocks or bonds issued or proposed to be issued by a government;

life products including:

investment life insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds; and

life risk insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds;

interests in managed investment schemes including:

investor directed portfolio services;

retirement savings accounts ("RSA") products (within the meaning of the Retirement Savings Account Act 1997);

securities;

standard margin lending facility;

superannuation;

carbon units;

Australian carbon credit units;

eligible international emissions units; and

financial products limited to:

miscellaneous financial investment products limited to managed investment warrants;

deal in a financial product by:

issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products:

deposit and payment products including:

basic deposit products;

deposit products other than basic deposit products; and

non-cash payment products;

derivatives;

foreign exchange contracts;

general insurance products;

debentures, stocks or bonds issued or proposed to be issued by a government;

life products including:

investment life insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds; and

life risk insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds;

interests in managed investment schemes including:

investor directed portfolio services;

retirement savings accounts ("RSA") products (within the meaning of the Retirement Savings Account Act 1997);

securities;

standard margin lending facility;

superannuation; and

financial products limited to:

miscellaneous financial investment products limited to managed investment warrants;

miscellaneous financial risk products limited to property and accident risk products;

applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products:

deposit and payment products including:

basic deposit products;

deposit products other than basic deposit products; and

non-cash payment products;

derivatives;

foreign exchange contracts;

general insurance products;

debentures, stocks or bonds issued or proposed to be issued by a government;

life products including:

investment life insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds; and

life risk insurance products as well as any products issued by a Registered Life Insurance Company that are backed by one or more of its statutory funds;

interests in managed investment schemes including:

investor directed portfolio services;

retirement savings accounts ("RSA") products (within the meaning of the Retirement Savings Account Act 1997);

securities;

standard margin lending facility;

superannuation;

carbon units;

Australian carbon credit units;

eligible international emissions units; and

financial products limited to:

miscellaneous financial investment products limited to managed investment warrants;

miscellaneous financial risk products limited to property and accident risk products; and

underwriting:

interests in managed investment schemes; and

an issue of securities;

make a market for the following financial products:

foreign exchange contracts;

derivatives;

debentures, stocks or bonds issued or proposed to be issued by a government and/or debentures issued by any other body;

carbon units;

Australian carbon credit units;

eligible international emissions units; and

limited to financial products other than:

derivatives;

foreign exchange contracts; and

debentures, stocks or bonds issued or proposed to be issued by a government and/or debentures issued by any other body; and

provide the following custodial or depository services:

operate the investor directed portfolio service known as "ANZ Private Portfolio (BT Wrap)" (the IDPS); and

operate custodial or depository services other than investor directed portfolio services;

to retail and wholesale clients.