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Filing of shelf registration statement by the Commonwealth government with the New York securities and exchange commission



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TREASURER

EMBARGO IMMEDIATE

NO. 88

STATEMENT BY THE TREASURER THE HON JOHN HOWARD, MP

FILING OF SHELF REGISTRATION STATEMENT BY THE COMMONWEALTH GOVERNMENT

WITH THE NEW YORK SECURITIES AND EXCHANGE COMMISSION

The Commonwealth has today filed with the Securities and Exchange

Commission in New York a Shelf Registration Statement, on a contingency

basis, to cover possible borrowings of up to $US400 million. This

filing has taken place under new registration procedures made available

to potential foreign borrowers by the SEC in New York late last year.

The Shelf Registration Statement filed by the Commonwealth sets out an

indicative maximum amount of securities that may be issued over the next

twelve months under this procedure. It does not specify the terms on

which securities would be issued or the timing of any such issues.

The Commonwealth is under no commitment to borrow during this period

but, should favourable market conditions for borrowing in New York arise

and it were decided that a borrowing in that market should be

undertaken, these new procedures would significantly reduce the lead

time required.

CANBERRA ACT

22 May 1981