Commonwealth Consolidated Regulations

CORPORATIONS REGULATIONS 2001 - REG 7.8A.08

  (1)   A person must make a target market determination for a financial product if:

  (a)   the product is an interest in a managed investment scheme; and

  (b)   the interest arises out of participation or proposed participation in an IDPS, but is not IDPS property; and

  (c)   but for ASIC Class Order [CO 13/763], Part   7.9 of the Act would give rise to an obligation on a person to give another person a Product Disclosure Statement for the interest; and

  (d)   the person is the operator of the IDPS.

Note:   The person must make the determination before any person engages in retail product distribution conduct in relation to the product: see subparagraph   994B(2)(b)(ii) of the Act.

  (2)   The following terms used in this regulation have the same meaning as in the section   912AD set out in paragraph   6 of ASIC Class Order [CO 13/763]:

  (a)   IDPS;

  (b)   IDPS property;

  (c)   operator, in relation to an IDPS.