UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 20-F

(MARK ONE)
  [ ]  REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES
       EXCHANGE ACT OF 1934
                                       OR

  [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
      ACT OF 1934
                    For the fiscal period ended June 30, 2001
                                       OR
  [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

Commission file number 333-93721

                  SECURITISATION ADVISORY SERVICES PTY LIMITED
        In its capacity as Manager of the Series 2001-1G Medallion Trust
                      Australian Company Number 064 133 946
             (Exact name of Registrant as specified in its charter)
                           New South Wales, Australia
                 (Jurisdiction of incorporation or organisation)
              Level 8, 48 Martin Place, Sydney, NSW 2000, Australia
                    (Address of principal executive offices)


SECURITIES  REGISTERED OR TO BE REGISTERED PURSUANT TO SECTION 12(B) OF THE ACT:
None

SECURITIES  REQUIRED TO BE REGISTERED  PURSUANT TO SECTION 12(G) OF THE ACT
None

SECURITIES FOR WHICH THERE IS A REPORTING  OBLIGATION  PURSUANT TO
SECTION 15(d) OF THE ACT
US$1,100,000,000 Class A1 Mortgage Backed Floating Rate Notes


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the last 90 days.

                       Yes [X]       No [ ]

         Indicate by check mark which  financial  statement  item the registrant
has elected to follow.

 Item 17 [ ]   Item 18 [ ]  Incorporated by Reference to filings on Form 6K [X}




                                      -1-
<PAGE>


CROSS REFERENCE SHEET

<TABLE>
<CAPTION>

20-F Item Number and Caption                                                     Location
------------------------------------------------------------------------------   ------------------------------------------
<S>                                                                              <C>

PART I
1.         Identity of Director, Senior Management and Advisers...............   Not applicable
2.         Offer Statistics and Expected Timetable............................   Not applicable
3.         Key Information ...................................................   Selected Financial Information
4.         Information on the Company ........................................   Property
5.         Operating and Financial Review and Prospects.......................   Not applicable
6.         Directors, Senior Management and Employees.........................   Not applicable
7.         Major Shareholders and Related Party Transactions..................   Major Shareholders and related Party
                                                                                 Transactions
8.         Financial Information .............................................   Not applicable
9.         The Offer and Listing..............................................   Markets
10.        Additional Information.............................................   Exchange Controls, Taxation, Legal
                                                                                 Proceedings, Holders of Notes
11.        Quantitative and Qualitative Disclosures About Market Risk.........   Market Risk
12.        Description of Securities Other than Equity Securities.............   Not applicable


PART II
13.        Defaults, Dividend Arrearages and Delinquencies....................   Defaults and Delinquencies
14         Materials Modifications to the Rights of Security Holders
           and Use of Proceeds Material ......................................   Modifications to the Rights of
                                                                                   Security Holders
15.        [Reserved]
16.        [Reserved]


PART III
17.        Financial Statements...............................................   Not applicable
18.        Financial Statements...............................................   Not applicable
19.(a)     Financial Statements ..............................................   Periodic filings on Form 6-K
                                                                                 incorporated by reference
   (b)  Exhibits .............................................................   Exhibits
</TABLE>



                                      -2-
<PAGE>

TABLE OF CONTENTS


PART 1

   INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
   ITEM 3: SELECTED FINANCIAL INFORMATION____________________________________4
   ITEM 4: PROPERTY__________________________________________________________5
   ITEM 7: INTEREST OF MANAGEMENT AND RELATED PARTIES IN TRANSACTIONS________5
   ITEM 9: MARKETS___________________________________________________________5
   ITEM 10: EXCHANGE CONTROLS, TAXATION, LEGAL PROCEEDINGS, HOLDERS OF NOTES_5
   ITEM 11: MARKET RISKS_____________________________________________________8

PART II

   ITEM 13: DEFAULTS AND DELINQUENCIES_______________________________________9
   ITEM 14: MATERIAL MODIFICATION TO RIGHTS OF SECURITY HOLDERS______________9

PART III

   ITEM 19: FINANCIAL STATEMENTS AND EXHIBITS_______________________________10

EXHIBITS

   EXHIBIT 99.1:    THE MANAGER OFFICER'S CERTIFICATE OF COMPLIANCE
   EXHIBIT 99.2:    DOCUMENT CUSTODY AUDIT REPORT
   EXHIBIT 99.4:    AUDITED ANNUAL REPORT FOR THE PERIOD ENDED 30 JUNE 2001


                                      -3-
<PAGE>



PART 1

This Annual Report on Form 20-F relates to the Series 2001-1G Medallion Trust
(the TRUST) and the Class A-1 Mortgage Backed Floating Rate Notes (the NOTES)
issued pursuant to the Class A-1 Note Trust Deed dated as of April 5, 2001 (the
CLASS A-1 NOTE TRUST DEED), between Perpetual Trustee Company Limited, as issuer
trustee (the ISSUER TRUSTEE); Securitisation Advisory Services Pty Limited, as
Manager (the MANAGER); and Bank of New York, New York branch, as Class A-1 note
trustee (the CLASS A-1 NOTE TRUSTEE). Capitalised terms used herein and not
defined have the same meanings given to such terms in the Prospectus related to
the Notes.

The information required for some items in Form 20-F is "not applicable" to the
Trust or the Manager. As used in this Annual Report filed on Form 20-F, "not
applicable" or "Not applicable" means that the response to the referenced item
is omitted in reliance on the procedures outlined in numerous no-action letters
issued by the Commission's Staff with respect to substantially similar
certificates and trusts that file annual reports on Form 10-K.

INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE

The Manager incorporates by reference its periodic filings of Form 6-K, which
contain all financial information relating to the Trust relevant to the holders
of the Notes (the "Noteholders"), pursuant to Rule 12b-23 promulgated under the
Securities Exchange Act of 1934.


ITEM 3: SELECTED FINANCIAL INFORMATION

The Manager incorporates by reference and attaches, pursuant to General
Instruction F to Form 20-F and Rule 12b-23 promulgated under the Securities
Exchange Act of 1934, the following quarterly Quarterly Servicing Reports, filed
on Form 6-K, which include all financial information relating to the Trust that
is relevant to Noteholders.

None.

The Manager also attaches hereto, as Exhibit 99.2 and Exhibit 99.3 respectively,
the following documents:

Document Custody Audit Report, and
Audited Annual Report


CURRENCY EXCHANGE

A portion of the financial information provided in the exhibits listed above
contain information in Australian dollars. The noon buying rate in New York City
for cable transfers in Australian dollars as certified for customs purposes by
the Federal Reserve Bank of New York on June 29, 2001 was US$0.5100 = A$1.00

Payments to noteholders,  however, are generally not affected by fluctuations in
the exchange  rate  between  Australian  and US dollars  because of the currency
swap.  Refer to Note 1(e) of the Annual Report of the Trust  attached as Exhibit
99.3.


                                      -4-
<PAGE>



ITEM 4: PROPERTY

The  property  of the Trust  consists  solely  of  residential  mortgage  loans.
Information  concerning  such property can be found in the Financial  Report for
the Period  Ending June 30, 2001,  attached as Exhibit  99.3.  Additionally,  an
Officer's  Certificate of  Compliance,  executed by a director of the Manager is
filed herewith as Exhibit 99.1.  Such  statement  certifies that the Manager and
the Issuer Trustee,  in such  capacities,  have complied with all conditions and
covenants under the  Transaction  Documents for the issuance of the Notes by the
Trust.


ITEM 7: INTEREST OF MANAGEMENT AND RELATED PARTIES IN TRANSACTIONS

Securitisation  Advisory  Services Pty Limited is a wholly owned  subsidiary  of
Commonwealth  Bank  of  Australia.   Its  principal  business  activity  is  the
management of  securitisation  trusts  established  under  Commonwealth  Bank of
Australia's Medallion Trust Programmes.

Commonwealth  Bank of  Australia  provides  working  capital  to  Securitisation
Advisory  Services Pty Ltd. Also,  Securitisation  Advisory Services Pty Ltd has
entered into  transaction on commercial terms with either  Commonwealth  Bank of
Australia  or wholly owned  subsidiaries  of  Commonwealth  Bank of Australia in
order to carry out its function as manager under the securitisation trusts.


ITEM 9: MARKETS

The Notes are not traded on any  nationally  recognised  exchange  in the United
States. The Notes are listed and exchanged on the London Stock Exchange.


ITEM 10: EXCHANGE CONTROLS, TAXATION, LEGAL PROCEEDINGS, HOLDERS OF NOTES

LEGAL PROCEEDINGS

The Manager knows of no material legal  proceedings  involving any of the Trust,
the Manager, the Servicer or the Issuer Trustee.

HOLDERS OF NOTES

The Notes are currently  represented by  certificates  registered in the name of
Cede & Co., the nominee of The Depository Trust Company. Accordingly, Cede & Co.
is the  sole  holder  of  record  of the  Notes,  which  it  held on  behalf  of
approximately 20 brokers,  dealers,  banks and other direct  participants in the
DTC system.


                                      -5-
<PAGE>


EXCHANGE CONTROLS

The Australian  Banking  (Foreign  Exchange)  Regulations  and other  Australian
legislation  and  regulations  control  and  regulate  or permit the control and
regulation of a broad range of payments and transactions involving non-residents
of Australia.  Pursuant to certain general and specific exemptions,  authorities
and approvals,  however,  we are not  restricted  from  transferring  funds from
Australia or placing funds to the credit of non-residents  of Australia  subject
to:

(i)  withholding   taxes  (see  "Item  10.   Taxation"  below)  in  relation  to
     remittances  of dividends (to the extent they are  unfranked)  and interest
     payments;

(ii) a restriction on  transactions  involving the transfer of funds or payments
     to, by the order of, or on behalf of:

     o    the National Union for Total Independence of Angola (UNITA) or senior
          officials or adult members of the immediate families of senior
          officials, of UNITA.
     o    the Government of Iraq its agencies or its nationals, including bodies
          corporate within its territories;
     o    the Government of Libya, a public authority of Libya, an undertaking
          owned or controlled by the said Government or any such public
          authority, or any person acting on behalf of the said Government,
          public authority or undertaking;
     o    any  of the  following:
          o    the Embassy or Consulate-General of the Federal Republic of
               Yugoslavia (Serbia and Montenegro) (in respect of any amount in
               excess of $100,000);
          o    the Narodna Banka Jugoslavije (including Banque Nationale de
               Yugoslavie) (in respect of any amount in excess of $100,000); or
          o    certain other persons and entities listed in instruments issued
               under the Australian Banking (Foreign Exchange) Regulations and
               published on behalf of the Reserve Bank of Australia in the
               Commonwealth of Australia Gazette on 24 October 2001;
     o    the Afghan faction known as the Taliban, which also calls itself the
          Islamic Emirate of Afghanistan, or any undertaking owned or
          controlled, directly or indirectly by the Taliban;
     o    any of the following:
          o    Usama bin Laden;
          o    the Al-Qaida organisation; or
          o    certain other persons and entities listed in instruments issued
               under the Australian Banking (Foreign Exchange) Regulations and
               published on behalf of the Reserve Bank of Australia in the
               Commonwealth of Australia Gazettes on 5 October 2001, 18 October
               2001 and 19 November 2001; or
     o    the National Union for the Total Independence of Angola whether to
          UNITA as an organisation, to senior officials of UNITA or to adult
          members of the immediate families of the senior officials of UNITA.

Notwithstanding the restrictions referred to in paragraph (ii) above, the
Reserve Bank of Australia may approve certain transactions in circumstances it
deems appropriate.

                                      -6-
<PAGE>


Effectively, the only exchange controls limiting the purchase of domestic
securities by non-residents retained in terms of the Manager or the Trust are
the Foreign Exchange Regulations relating to the requirement of the Reserve Bank
of Australia approval for investment in Australia by central banks, foreign
governments and foreign government agencies, which are holders of the official
exchange reserves of their country and do not act independently of their
government with respect to investment decisions.

TAXATION

CERTAIN AUSTRALIAN TAX MATTERS

The following statements with respect to Australian taxation are only general
summaries and are based on advice received by the Manager. Purchasers of Notes
should consult their own tax advisers concerning the consequences, in their
particular circumstances, under Australian tax laws, and the laws of any other
taxing jurisdiction, of the ownership of or any dealing in the Notes.

PAYMENTS OF PRINCIPAL, PREMIUMS AND INTEREST

Under existing Australian tax law, non-resident holders of Notes or interests in
any Global Note (other than persons holding such securities or interest as part
of a business carried on, at or through a permanent establishment in Australia
(an "Australian Establishment")) are not subject to Australian income tax on
payments of interest or amounts in the nature of interest, including, subject to
the fulfilment of all conditions required by section 128F of the Australian
Income Tax Assessment Act 1936 (the "Tax Act") as set forth below, interest
withholding tax. Under Article 11 of the 1983 United States-Australia Tax
Treaty, the maximum Australian withholding rate on interest paid to United
States residents who are entitled to the benefit of such Treaty is 10%. Under
Australian law, the withholding rates for payments to other jurisdictions is
currently 10% on interest or amounts in the nature of interest paid on the
Notes. A premium on redemption would generally be treated as an amount in the
nature of interest for this purpose.

Pursuant to section 128F of the Tax Act, an exemption from Australian interest
withholding tax applies provided all prescribed conditions are met. Such
conditions include the issue of the Notes in a way that satisfies an objective
public offer test. The Issuer Trustee will seek to issue the Notes in a way that
will satisfy such test and otherwise meet the requirements of section 128F
including by listing the Notes. The test will not be satisfied if the Issuer
Trustee knew, or had reasonable grounds to suspect, that the Notes were being or
would later be acquired either directly or indirectly by an associate of the
Issuer Trustee within the meaning of Section 128F of the Tax Act, other than in
the capacity of a dealer, manager or underwriter in relation to the placement of
a Note.

The exemption from Australian withholding tax will also not apply to interest
paid by the Issuer Trustee to an associate of the Issuer Trustee within the
meaning of section 128F if, at the time of the payment, the Issuer Trustee
knows, or has reasonable grounds to suspect, that the person is an associate.


                                      -7-
<PAGE>



PROFIT ON SALE

Under current Australian law, non-resident holders of Notes will not be subject
to Australian income tax on profits derived from the sale or disposal of Notes
(but see below for discussion of Australia's capital gains provisions):

(1)  if the profits do not have an Australian source; or

(2)  where the profits do have an Australian source, if the holder is resident
     in a country with which Australia has entered into a double tax treaty, is
     entitled to the benefit of that treaty and the profits are business profits
     for the purposes of the treaty which are not attributable to a business
     carried on through an Australian Establishment.

The source of any profit on the disposal of Notes will depend on the factual
circumstances of the actual disposal. Where the Notes are acquired and disposed
of pursuant to contractual arrangements entered into and concluded outside
Australia, and the seller and the purchaser are non-residents of Australia and
do not have an Australian Establishment, the profit should not have an
Australian source. There are, however, specific withholding tax rules that can
apply to treat a portion of the sale price of Notes as interest for withholding
tax purposes (and which amounts are not covered by the exemption conditions in
section 128F). These rules can apply when:

o    Notes are sold for an amount in excess of their issue price prior to
     maturity; or

o    Notes are sold to an Australian resident, or to a non-resident in
     connection with a business carried on, at or through an Australian
     Establishment, in connection with a "washing arrangement" as defined in
     section 128(1AB) of the Tax Act.

Under provisions for the taxation of capital gains, non-resident holders of
Notes would be subject to Australian tax on profits derived from the sale or
disposal of Notes if the Notes were at any time prior to the sale or disposal
held as part of a business carried on through an Australian Establishment.

OTHER TAXES

No stamp, issue, registration or similar taxes are payable in Australia in
connection with the issue of the Notes. Furthermore, a transfer of, or agreement
to transfer, Notes executed outside of Australia will not be subject to
Australian stamp duty.


ITEM 11: MARKET RISKS

Information regarding various market risks can be found in the Annual Report for
the Period 20 April 2001 to 30 June 2001 attached as Exhibit 99.3.


                                      -8-
<PAGE>



PART II


ITEM 13: DEFAULTS AND DELINQUENCIES

There have been no material defaults or delinquencies in the payment of
principal or interest on the Notes.


ITEM 14: MATERIAL MODIFICATIONS TO RIGHTS OF SECURITY HOLDERS

None.



                                      -9-
<PAGE>



PART III


ITEM 19: FINANCIAL STATEMENTS AND EXHIBITS

(a)  See the "Selected Financial Information" section in this Annual Report and
     the Exhibits described in section (b) below.

(b)  Exhibits


The following documents are filed as part of this Annual Report:

1.   Exhibit 99.1: The Manager Officer's Certificate of Compliance
2.   Exhibit 99.2: Document Custody Audit Report
3.   Exhibit 99.3: Audited Annual Report for the period ended 30 June 2001




                                      -10-
<PAGE>



SIGNATURES

Pursuant to the requirements of Section 12 of the Securities Exchange Act of
1934, the registrant certifies that it meets all of the requirements for filing
on Form 20-F and has duly caused this Annual Report to be signed on its behalf
by the undersigned, thereunto duly authorized.


 /s/ Raymond George Wilkie
-------------------------------------
Name:  Raymond George Wilkie

Director
Securitisation Advisory Services Pty Limited
Date: December 20, 2001




                                      -11-
<PAGE>



INDEX TO EXHIBITS


Exhibit No.         Document Description
-----------         --------------------

   99.1        The Manager Officer's Certificate of Compliance
   99.2        Document Custody Audit Report
   99.3        Audited Annual Report for the Period Ended 30 June 2001





                                      -12-