Commonwealth Consolidated Regulations

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Custodial or depository services

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

                     (a)  the product includes a custodial or depository service; and

                     (b)  but for this regulation, Part 7.8A of the Act would not apply in relation to the financial product; and

                     (c)  the custodial or depository service is to be provided to a retail client; and

                     (d)  the person is the issuer of the product.

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.

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