The Leader Dynamics T2 was produced in Australia as an inexpensive rifle for export, and a later variant with a folding stock was submitted in 1986 to military testing with the intent of replacing the Australian military’s FAL rifles. It did well in testing, but not well enough to be adopted. The rifles were available on the civilian market in both Australia and the US for a short time. After Leader Dynamics went under, production was briefly continued by Australian Automatic Arms out of Tasmania as the SAC.
The T2 rifle is interesting primarily because of the way it is manufactured – almost entirely from metal stampings.This makes it possible to build with minimal industrial infrastructure and at minimal cost. Similar in concept to the AR-18, but the Leader is more simplified than the AR. The MkV version was the imported variety from Leader, while the other Marks included two wood-stocked versions, a pistol version, select-fire rifle and select-fire carbine. When AAA took over production they removed the carry handle and designated the guns SAR and SAC.
Australian Automatic Arms SAC with wood furniture (download gallery at high resolution):
Oleg Volk has a couple photos with a Leader, posted here.