ORA-19275: XP0055 - schema path string not found in list of in-scope schema definitions
Cause : The ElementTest specified a schema path that could not be found in the list of in-scope schema definitions.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Include the appropriate schema that can be used to resolve the ElementTest.
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.