Commonwealth Consolidated Regulations Commonwealth Consolidated RegulationsA 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.