Document ID: chunk:federal_register_of_legislation:C2019A00050:clause:1_994c:p2
Version: federal_register_of_legislation:C2019A00050
Segment Type: clause
Provision Reference: sch 1 cl 994C (pt 2/3)
Character Range: 18486–21303

for the determination has occurred; or
 (ii) an event or circumstance has occurred that would reasonably suggest that the determination is no longer appropriate;
then, from as soon as practicable, but no later than 10 business days, after the person first knew of the occurrence of the review trigger, event or circumstance, the person must not engage in retail product distribution conduct in relation to the product unless:
 (d) the person has reviewed the determination and, if the determination is no longer appropriate, made a new target market determination in accordance with section 994B; or
 (e) the retail product distribution conduct is excluded conduct.
Note: This subsection is a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see section 1317S.
 (5) If:
 (a) a person makes a target market determination for a financial product; and
 (b) the product is on offer for acquisition by issue, or for regulated sale, to retail clients at any time during a review period for the determination; and
 (c) the person knows that:
 (i) a review trigger for the determination has occurred; or
 (ii) an event or circumstance has occurred that would reasonably suggest that the determination is no longer appropriate;
the person must, as soon as practicable, but no later than 10 business days, after the person first knew of the occurrence of the review trigger, event or circumstance, take all reasonable steps to ensure that regulated persons who engage in retail product distribution conduct in relation to the product (or are expected to do so) are informed that they must not engage in retail product distribution conduct in relation to the product unless:
 (d) the determination has been reviewed since the review trigger, event or circumstance occurred and, if a new target market determination is required, it has been made; or
 (e) the retail product distribution conduct is excluded conduct.
Note 1: Contravention of this subsection is an offence (see subsection 1311(1)).
Note 2: This subsection is also a civil penalty provision (see section 1317E). For relief from liability to a civil penalty relating to this subsection, see section 1317S.

Distribution where target market determinations not appropriate: regulated persons
 (6) If a regulated person in relation to a financial product knows that the person who made the target market determination for the product has taken steps referred to in subsection (5), the regulated person must, as soon as practicable, but no later than 10 business days, after the regulated person first became aware that the steps had been taken, cease to engage in retail product distribution conduct in relation to the product unless:
 (a) the determination has been reviewed since a review trigger,