ORA-24043: destination string uses a reserved name, names with AQ$_ prefix are not valid
Cause : An attempt was made to specify a reserved name for a destination.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Enter a different value or NULL for the local destination. Then retry the operation.
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.