SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                ----------------

                                 SCHEDULE 13D
                    Under the Securities Exchange Act of 1934

            INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
           TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
                                 RULE 13d-2(a)

                               (Amendment No. 10)


                      Aberdeen Australia Equity Fund, Inc.
--------------------------------------------------------------------------------
                                (Name of Issuer)


                     Common Stock, par value $.01 per share
--------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   318652104
--------------------------------------------------------------------------------
                                 (CUSIP Number)


                                  Moritz Sell
                           Bankgesellschaft Berlin AG
                                Alexanderplatz 2
                                 D-10178 Berlin
                                    Germany
                                +44.20.7572.6200
--------------------------------------------------------------------------------
                 (Name, Address and Telephone Number of Person
               Authorized to Receive Notices and Communications)


                                 April 20, 2005
--------------------------------------------------------------------------------
             (Date of Event which Requires Filing of This Statement)

     If the filing  person has  previously  filed a statement on Schedule 13G to
report the  acquisition  that is the subject of this Schedule 13D, and is filing
this  schedule  because  of Rule  13d-1(e),  13d-1(f)  or  13d-1(g),  check  the
following box [_].

                               



________________________________________________________________________________
1    NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)


        Bankgesellschaft Berlin AG
________________________________________________________________________________
2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [_]

________________________________________________________________________________
3    SEC USE ONLY



________________________________________________________________________________
4    SOURCE OF FUNDS*



________________________________________________________________________________
5    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED 
     PURSUANT TO ITEMS 2(d) OR 2(e)                                   [_]



________________________________________________________________________________
6    CITIZENSHIP OR PLACE OF ORGANIZATION


        Federal Republic of Germany
________________________________________________________________________________
               7    SOLE VOTING POWER
                    
  NUMBER OF         
                                                                       4,972,950
   SHARES      _________________________________________________________________
               8    SHARED VOTING POWER
BENEFICIALLY        
                    
  OWNED BY          
               _________________________________________________________________
    EACH       9    SOLE DISPOSITIVE POWER
                    
  REPORTING         
                                                                       4,972,950
   PERSON      _________________________________________________________________
               10   SHARED DISPOSITIVE POWER
    WITH            
                    
                    
________________________________________________________________________________
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


                                                                       4,972,950
________________________________________________________________________________
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*

                                                                      [_]

________________________________________________________________________________
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)


                                                                          29.64%
________________________________________________________________________________
14   TYPE OF REPORTING PERSON*


                                                                              BK
________________________________________________________________________________




                               
                     


     This  Amendment No. 10 amends and  supplements  Item 4 and Annex A of the
Statement  on  Schedule  13D of  Bankgesellschaft  Berlin AG (the  "Bank")  with
respect to the  shares of Common  Stock,  par value $.01 per share (the  "Common
Stock"), of the Aberdeen Australia Equity Fund, Inc. (the "Fund"). Annex A sets
forth the name, address and principal  occupation of each director and executive
officer of the Bank and the name,  address,  jurisdiction of  incorporation  and
principal  business of each  shareholder  of the Bank who may be deemed to be in
control of the Bank.  All of the  individuals  listed on Annex A are citizens of
the Federal  Republic of Germany.  Items not included in this amendment are not
amended and remain as previously reported.

Item 4. Purpose of Transaction

     The Fund's Board of Directors has authorized the preperation by the Fund of
a  registration  statement,  at the  Bank's  expense,  to  register  the  Bank's
remaining  shares of Common Stock for sale in a public offering  pursuant to the
registration  provisions  of the  Securities  Act of 1933.  The  Bank  currently
anticipates  that  the  plan  of  distribution  contained  in  the  registration
statement will contemplate at-the-market sales and not an underwritten offering.

     In addition,  pending the  effectiveness of the registration  statement the
Bank reserves the right to make  additional  sales of its shares of Common Stock
pursuant Rule 144, subject to the rule's filing  requirements and limitations on
the permitted volume of sales and the manner in which shares may be sold.




                               



                                    SIGNATURE

     After  reasonable  inquiry and to the best of our knowledge and belief,  we
certify that the information  set forth in this statement is true,  complete and
correct.

Date: April 20, 2005


                                                     BANKGESELLSCHAFT BERLIN AG


                                                  By: /s/ Dirk Kipp            
                                                     ---------------------------
                                                     Name:  Dirk Kipp
                                                     Title:    Managing Director


                                                  By: /s/ Moritz Sell          
                                                     ---------------------------
                                                     Name:  Moritz Sell
                                                     Title:    Director




                              



Amendments to Annex A
---------------------

Unless otherwise  indicated,  the business address for all individuals listed in
this Annex A is  Bankgesellschaft  Berlin AG,  Alexanderplatz 2, D-10178 Berlin,
Federal Republic of Germany.

Members of the Managing Board

--------------------------------------------------------------------------------
Name and Address                               Principal Occupation
--------------------------------------------------------------------------------
Hans-Jorg Vetter                               Chairman of the Managing Board of
Alexanderplatz 2                               Bankgesellschaft Berlin AG
D-10178 Berlin
--------------------------------------------------------------------------------
Serge Demoliere                                Member of the Managing Board of  
Alexanderplatz 2                               Bankgesellschaft  Berlin AG
D-10178 Berlin
--------------------------------------------------------------------------------
Uwe Kruschinski                                Member of the Managing Board of  
Alexanderplatz 2                               Bankgesellschaft Berlin AG
D-10178 Berlin
--------------------------------------------------------------------------------
Martin Klaus Muller                            Member of the Managing Board of  
Alexanderplatz 2                               Bankgesellschaft Berlin AG
D-10178 Berlin
--------------------------------------------------------------------------------
Dr. Thomas Veit                                Member of the Managing Board of  
Alexanderplatz 2                               Bankgesellschaft Berlin AG
D-10178 Berlin                   
--------------------------------------------------------------------------------

                               Executive Officers

--------------------------------------------------------------------------------
Name and Address                               Principal Occupation
--------------------------------------------------------------------------------
Alt, Volker                                    Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Recht                            
Alexanderplatz 2
D-10178 Berlin
--------------------------------------------------------------------------------
Boehmer, Willi                                 Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Finanzen                         
Brunnenstra(beta)e 111
D-13355 Berlin
--------------------------------------------------------------------------------
Boenke, Frank-Michael                          Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Compliance                       
Brunnenstra(beta)e 111
D-13355 Berlin
--------------------------------------------------------------------------------

                               



--------------------------------------------------------------------------------
Name and Address                               Principal Occupation
--------------------------------------------------------------------------------
Brummel, Beate                                 Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Kreditbereich Kapitalmarktgeschaft
Strukturierte 
Finanzierungen/Projektfinanzierungen
Alexanderplatz 2
D-10178 Berlin
--------------------------------------------------------------------------------
Burmester, Dr. Christian                       General Manager of               
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG 
London Branch                                  London Branch
1 Crown Court
Cheapside
GB-London EC2V 6LR
--------------------------------------------------------------------------------
Butzer, Arnold                                 Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Vertrieb Immobilienfinanzierung  
Corneliusstr, 7
D-10787 Berlin
--------------------------------------------------------------------------------
Gunther, Steffen                               Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Geschaftsfeldstab Immobilienfinanzierung
Corneliusstr, 7
D-10787 Berlin
--------------------------------------------------------------------------------
Hirschhaeuser, Dr. Karl-Friedrich              Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Risikocontrolling
Alexanderplatz 2
D-178 Berlin
--------------------------------------------------------------------------------
Kipp, Dirk                                     Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Eigenhandel                      
Treasury
Alexanderplatz 2
D-10178 Berlin
--------------------------------------------------------------------------------
Lange, Axel                                    Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Kreditbereich IBAG/IBG           
Hardenbergstr. 20
D-10623 Berlin
--------------------------------------------------------------------------------
Papesch, Uwe                                   Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Equities                         
Zins- und Kreditprodukte
Alexanderplatz 2
D-10178 Berlin
--------------------------------------------------------------------------------

                               



--------------------------------------------------------------------------------
Name and Address                 Principal Occupation
--------------------------------------------------------------------------------
Reutter, Dr. Georg                             Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Kredit Immobilien                
Corneliusstr, 7
D-10787 Berlin
--------------------------------------------------------------------------------
Roller, Gerhard                                Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Internationales Geschaft         
komm. Corporate Banking
Alexanderplatz 2
D-10178 Berlin-
--------------------------------------------------------------------------------
Scheer, Heinz-Gunter                           Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Unternehmensentwicklung          
Alexanderplatz 2
D-10178 Berlin
--------------------------------------------------------------------------------
Scholper, Siegfried                            Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Controlling                      
Brunnenstra(beta)e 111
D-13355 Berlin
--------------------------------------------------------------------------------
Schroeder, Bartho                              Managing Director of 
Bankgesellschaft Berlin AG                     Bankgesellschaft Berlin AG
Business Management              
Alexanderplatz 2
D-10178 Berlin
--------------------------------------------------------------------------------



Shareholders Who May Be Deemed to Control the Bank

     The following shareholders of the Bank may be deemed to control the Bank:

The City of Berlin
Norddeutsche  Landesbank  Girozentrale  NORD/LB, a bank formed under the laws of
Germany, whose principal address is Georgplatz 1, D-30159, Hannover, Germany.