Document ID: chunk:federal_register_of_legislation:C2019A00050:clause:1_994b:p3
Version: federal_register_of_legislation:C2019A00050
Segment Type: clause
Provision Reference: sch 1 cl 994B (pt 3/3)
Character Range: 14334–15967

for the purposes of subsection (6), regard must be had to:
 (a) the need to identify promptly whether a review trigger for the determination, or another event or circumstance that would reasonably suggest that the determination is no longer appropriate, has occurred; and
 (b) the likelihood, nature and extent of detriment to retail clients that may result if:
 (i) a review trigger for the determination, or another event or circumstance that would reasonably suggest that the target market determination is no longer appropriate, has occurred; and
 (ii) the target market determination is not promptly reviewed.
 (8) A target market determination for a financial product must be such that it would be reasonable to conclude that, if the product were to be issued, or sold in a regulated sale:
 (a) to a retail client in accordance with the distribution conditions—it would be likely that the retail client is in the target market; and
 (b) to a retail client in the target market—it would likely be consistent with the likely objectives, financial situation and needs of the retail client.

Making target market determinations public
 (9) A person who makes a target market determination must ensure that the determination is available to the public free of charge.
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.
Note 3: This subsection applies to all target market determinations, including those that have ceased to apply.