Regulation 3

Where the units in SP Australia Networks (Finance) Trust or an Additional Trust are listed for quotation on an approved exchange, a person making an offer of units or derivatives of units in SP Australia Networks (Finance) Trust or the Additional Trust, as the case may be, pursuant to a specified bonus warrant, shall be exempt from the requirements under section 239C of the Act.

In paragraph (1), “specified bonus warrant” means a right given, for no consideration, by the responsible entity of SP Australia Networks (Finance) Trust or the Additional Trust (acting in its capacity as responsible entity of SP Australia Networks (Finance) Trust or the Additional Trust), as the case may be, to an existing unitholder of SP Australia Networks (Finance) Trust or the Additional Trust, as the case may be, to buy a specified number of units or derivatives of units in SP Australia Networks (Finance) Trust or the Additional Trust, as the case may be, at a given price not earlier than 6 months after the date of listing of the right for quotation on an approved exchange.