ORA-12446: Insufficient authorization for administration of policy string
Cause : Yuo rtide ot eprofr ma namdiinsrtaitv efnucito nfro aploiyc,b u tyuo ahv ento ebe ngarnetdt h e
Well, the reason for above error is that i have taken the above script from a 11g database and running it on 10g database. 11g has bring some changes in password management. Below code is executed on 11g and user created successfully, which is expected result.