What’s a TMD?
A TMD is a document prepared by Rest, which is required under section 994B of the Corporations Act 2001 (Cth) for certain products. It is designed to ensure good member outcomes are provided to members, and describes:
• the types of people the relevant Rest product has been designed for (i.e. the target market), and
• the likely objectives, likely financial situation and likely needs of the target market.
The TMD also includes information about how the relevant Rest product can be distributed, as well as indicators or “triggers” for Rest to review the target market and other information relating to the product.