Well Googling that obscure model number suggests that it is a padlock, with loads of vinyl shrouding it to make it 'weatherproof'
Essentially it seems to be a laminate steel padlock and is therefore very likely to be similar to the Master no. 3 padlock which also uses a laminate construction. There are lots of steel plates that have a hollow bit in the middle of each one to accommodate a lock cylinder - think about a pre-slice garlic bread baguette that has had the middle scooped out and that's pretty much it, in culinary terms. All of these steel plates are sandwiched together with (Guessing here) 8 rivets.
The usual way of taking them apart involves grinding away at these rivets so the plates come apart and you can then get to the lock cylinder which will probably look very small and unimpressive. You can take apart this cylinder but those that I've seen in the past are fairly cheap looking and didn't go back together ideally after dis-assembly. Getting the laminate plates back together is a pain - if you can find long enough rivets then you could rivet it back together, or you could use long thin hex-head bolts and bolt it back together, although these generally in the way, but I've done it in the past and they worked.
Basically, don't do it. It's a massive pain in the neck and there are pictures on this site from people who have already done it so you can see how they work - search for "Master no.3/#3 taken apart/disassembled/cut-away" or something like that and you'll find plenty.
ref:
http://www.yalesecuritypoint.co.za/products/locks/61mm-All-Weather-Padlock/The things I do to avoid actually writing uni essays...
