Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.8A - DESIGN AND DISTRIBUTION REQUIREMENTS RELATING TO FINANCIAL PRODUCTS FOR RETAIL CLIENTS  

Division 2 - Financial products for which target market determinations are required  

REGULATION 7.8A.08   INVESTOR-DIRECTED PORTFOLIO SERVICES  

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.

7.8A.08(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.