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Undocumented this package has been associated with Advanced Replication. The two objects in this package appear to be around to support legacy import-related functionality.
The Overload 1 demo, below, I just put in invalid strings to see what would happen. It didn't do anything obvious and didn't raise an exception.
The only way to force an exception seems to be using a non-Boolean value for the "master" parameter.
Owned by SYS with EXECUTE granted to IMP_FULL_DATABASE