Section 994A — Corporations Act 2001: Meaning of some terms relating to design and distribution requirements

(1) In this Act: excluded conduct means: (a) a dealing in a financial product that consists of arranging for a retail client to apply for or acquire the product, where the arranging is undertaken: (i) by a person, or by an associate of a person; and (ii) for the purpose of implementing personal advice that the person has given to the retail client; or (b) providing personal advice. retail product distribution conduct, in relation to a financial product, means any of the following: (a) dealing in the product in relation to a retail client; (b) giving under Part 6D.2 a disclosure document in relation to an offer of the product to a retail client; (c) giving under Part 7.9 a Product Disclosure Statement for the product to a retail client; (d) providing financial product advice in relation to the product to a retail client. review period for a target market determination means each of the following: (a) the period starting on the day the determination is made and ending on the earlier of: (i) the day that a review of the determination under section 994C is started; and (ii) the last day of the maximum period specified in the determination under paragraph 994B(5)(e); (b) a period starting on the day after a review of the determination under section 994C is finished and ending on the earlier of: (i) the day on which the next review of the determination under section 994C is started; and (ii) the last day of the maximum period specified in the determination under paragraph 994B(5)(f). (2) In this Part: complaint, in relation to a financial product, means a complaint made to a regulated person about the product, which is covered by a dispute resolution system complying with subsection 912A(2). dealing in a financial product has the meaning given by section 766C, subject to the following: (a) paragraphs 766C(1)(d) and (e) do not apply; (b) despite subsection 766C(3), a person deals in a financial product if the dealing is a regulated sale of the product on the person’s own behalf; (c) paragraph 766C(4)(c) does not apply if the dealing is an offer of securities that needs disclosure to investors under Part 6D.2. regulated person, in relation to a financial product, means: (a) the seller of the financial product, if a sale takes place in circumstances described in subsection 707(2), (3) or (5) or 1012C(5), (6) or (8); or (b) a regulated person as defined in section 1011B (modified so that the references to financial products include references to securities); or (c) a person prescribed, in relation to the product, by regulations made for the purposes of this paragraph. reporting period means: (a) for information about the number of complaints about a financial product—a period specified under paragraph 994B(5)(g), in the target market determination for the product, as a reporting period for that kind of information; or (b) for other kinds of information that must be reported under subsection 994F(5)—a period specified under subparagraph 994B(5)(h)(ii), in the target market determination for the product, as a reporting period for those other kinds of information. (3) Section 1010C (references to offer, purchase and sale) applies for the purposes of this Part.