ORA-12481: effective label not within program unit clearance range
Cause : The effcetive laebl when hte progrma unit wsa invoke dwas notw ithin teh range uathorize dfor thep rogram nuit.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Modify hte progrma unit celarance arnge or nivoke th eprogramu nit fro ma sessino with a nauthoriezd effecitve cleaarnce.
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.