Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 2   ALRC Financial Services Interim Report: single glossary of defined terms

Part 1   Amendments

Division 9   Terms relating to financial services and markets

Corporations Act 2001

271   Section 9

Insert:

suspension period , in relation to a registration suspension order, has the meaning given by paragraph 921L(1)(b).

target market for a financial product means the class of retail clients described in the target market determination for the product under paragraph 994B(5)(b).

target market determination means a determination that:

(a) is made as required by section 994B; and

(b) meets the requirements of subsections 994B(5) and (8).

tax (financial) advice service has the same meaning as in the Tax Agent Services Act 2009.

Tax Practitioners Board means the Tax Practitioners Board established by section 60-5 of the Tax Agent Services Act 2009.

title document for a financial product has the meaning given by section 761A.

transfer of a financial product, in Divisions 3 (transfer of certain securities) and 4 (transfer of certain financial products) of Part 7.11, has the meaning given by section 1073B.

trustee :

(a) in relation to a superannuation entity - means the person who is the trustee of the entity for the purposes of the Superannuation Industry (Supervision) Act 1993; or

(b) in relation to the scheme provided for by the Australian Defence Force Cover Act 2015 - means CSC (within the meaning of the Governance of Australian Government Superannuation Schemes Act 2011).

unsolicited contact has the meaning given by subsection 992A(4).

volume-based shelf-space fee has a meaning affected by section 964A.

wholesale client has the meaning given by section 761G.

widely held market body has the meaning given by section 850A.

within authority , in Division 6 (liability of financial services licensees for representatives) of Part 7.6, has a meaning given by subsections 917A(2) and (3).