Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

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

Division 3 - Exemptions  

REGULATION 7.8A.20   FINANCIAL PRODUCTS FOR WHICH TARGET MARKET DETERMINATIONS ARE NOT REQUIRED  

7.8A.20(1)    
For the purposes of paragraph 994B(3)(f) of the Act, each kind of financial product covered by a subregulation of this regulation is prescribed.

Superannuation

7.8A.20(2)    
This subregulation covers an interest in an eligible rollover fund (within the meaning of the Superannuation Industry (Supervision) Act 1993 ).

7.8A.20(3)    
This subregulation covers a defined benefit interest (within the meaning of the Superannuation Industry (Supervision) Regulations 1994 ).

Insurance products

7.8A.20(4)    
This subregulation covers a medical indemnity insurance product.

Depository interests

7.8A.20(5)    
This subregulation covers a depository interest in fully paid ordinary shares in a foreign company, being shares in relation to which, if they were offered directly to retail clients, Part 7.8A of the Act would not apply.

Money products

7.8A.20(6)    
This subregulation covers a bank draft, including (but not limited to):

(a)    a cheque drawn by a financial institution on itself; or

(b)    a cheque drawn by a financial institution on a financial institution other than itself.

7.8A.20(7)    
This subregulation covers a money order issued as a money order by, or for, Australia Post.

Extended operation financial products not received in this jurisdiction

7.8A.20(8)    
This subregulation covers an extended operation financial product, if the offer to issue or sell the product is not received in this jurisdiction.

Credit facilities

7.8A.20(9)    
This subregulation covers each of the following:

(a)    a credit facility that is not or was not issued, or that will not be issued, in the course of a business that is wholly or partly a business of providing credit;

(b)    a credit facility under the terms of which the credit is, or must be, applied wholly or predominantly for business purposes;

(c)    a credit facility that:

(i) involves a matter referred to in paragraph (b) of the definition of credit in subregulation 2B(3) of the Australian Securities and Investments Commission Regulations 2001 ; but

(ii) does not involve credit of a kind referred to in paragraph (a) of that definition;

(d)    a credit facility that is the provision of a mortgage that secures obligations under a credit contract (but not the credit contract);

(e)    the provision of credit by a pawnbroker in the ordinary course of a pawnbroker ' s business (being a business which is being lawfully conducted by the pawnbroker).

Income management regimes

7.8A.20(10)    

This subregulation covers a financial product that is:

(a)    a BasicsCard bank account (within the meaning of Part 3AA of the Social Security (Administration) Act 1999) ; or

(b)    a debit card that is attached to an account referred to in paragraph (a) ; or

(c)    an income management account (within the meaning of Part 3B of that Act); or

(d)    either:

(i) a stored value card (within the meaning of Part 3B of that Act); or

(ii) a voucher given under subsection 123YC(2) or 123YD(2) of that Act;

that relates to an account referred to in paragraph (c) .