Meaning of some terms relating to design and distribution requirements
(1) In this Act: (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. (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. (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.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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