The purpose of this Target Market Determination (“TMD”) is to comply with the Design and Distribution Obligations incorporated under Chapter 7 of the Corporations Act 2001 (“the Act”) by the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019. The TMD aims to provide consumers and distributors with information about the class of consumers that comprises the target market for the Product, taking into account their objectives, financial situation and needs. It also specifies any Product distribution conditions and restrictions and deals with reviews of the TMD as well as distributor arrangements.
Who fall outside the CITILOANS GOLD COAST PTY LTD credit and eligibility criteria for a Consumer Loan.
Distributors are required to report and detail in writing all complaints in relation to the Product covered by this TMD to the Issuer within 10 business days.
Distributors are required to report any significant dealing in the Product that is not consistent with this TMD within 10 business days.
This section is required under s994B(5)(c) and s994B(8)(a) &(b).
The Issuer has reviewed the Product and its key attributes by considering its purpose, past outcomes and likely future outcomes, and has reasonably concluded that the Product is likely to be consistent with the objectives, financial situation and needs of consumers in the target market described above, when offered to the consumer by way of the distribution conditions listed above. The comparatively wide target market of the Issuer has been a factor in assessing why the distribution conditions and restrictions will make it likely that consumers who purchase the product are in the class of consumers for which it has been designed.