Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In this Act:
excluded conduct means:
(a) a dealing in a financial product that consists of arranging for a retail client to apply for or acquire the product, where the arranging is undertaken:
(i) by a person, or by an associate of a person; and
(ii) for the purpose of implementing personal advice that the person has given to the retail client; or
(b) providing personal advice.
retail product distribution conduct , in relation to a financial product, means any of the following:
(a) dealing in the product in relation to a retail client;
(b) giving under Part 6D.2 a disclosure document in relation to an offer of the product to a retail client;
(c) giving under Part 7.9 a Product Disclosure Statement for the product to a retail client;
(d) providing financial product advice in relation to the product to a retail client.
review period for a target market determination means each of the following:
(a) the period starting on the day the determination is made and ending on the earlier of:
(i) the day that a review of the determination under section 994C is started; and
(ii) the last day of the maximum period specified in the determination under paragraph 994B(5)(e);
(b) a period starting on the day after a review of the determination under section 994C is finished and ending on the earlier of:
(i) the day on which the next review of the determination under section 994C is started; and
(ii) the last day of the maximum period specified in the determination under paragraph 994B(5)(f).
"complaint" , in relation to a financial product, means a complaint made to a regulated person about the product, which is covered by a dispute resolution system complying with subsection 912A(2).
"dealing" in a financial product has the meaning given by section 766C, subject to the following:
(a) paragraphs 766C(1)(d) and (e) do not apply;
(b) despite subsection 766C(3), a person deals in a financial product if the dealing is a regulated sale of the product on the person's own behalf;
(c) paragraph 766C(4)(c) does not apply if the dealing is an offer of securities that needs disclosure to investors under Part 6D.2.
"regulated person" , in relation to a financial product, means:
(a) the seller of the financial product, if a sale takes place in circumstances described in subsection 707(2), (3) or (5) or 1012C(5), (6) or (8); or
(b) a regulated person as defined in section 1011B (modified so that the references to financial products include references to securities); or
(c) a person prescribed, in relation to the product, by regulations made for the purposes of this paragraph.
(a) for information about the number of complaints about a financial product--a period specified under paragraph 994B(5)(g), in the target market determination for the product, as a reporting period for that kind of information; or
(b) for other kinds of information that must be reported under subsection 994F(5)--a period specified under subparagraph 994B(5)(h)(ii), in the target market determination for the product, as a reporting period for those other kinds of information.
(3) Section 1010C (references to offer, purchase and
sale) applies for the purposes of this Part.