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Macquarie Legal Practice
Solicitors in Sydney

www.maclegal.com.au
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Suite 2, Level 1, Christie Corporate, 3 Spring Street. Sydney. Sydney, NSW, 2000.
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What you should know about Macquarie Legal Practice

Lawyer in Sydney, Business Consulting in Sydney, Legal in Sydney, Business in Sydney

Macquarie Legal Practice is a boutique sized law steady which acts for private individuals, families and small to temperate enterprises. Our Principal and staff have expertise, energy, are focused and steadfast and are committed to serving the needs of our clients on a cost effective basis. We represent clients locally, nationally and overseas via our accessible affiliations with major law firms in all capital cities throughout Australia and major international cities.

The Regulatory Regime governing the syndication of thoroughbred horses for racing purposes. The Regulatory Regime governing the syndication of thoroughbred Stallions for commercial breeding purposes. This paper is about the syndication of thoroughbred stallions and the regulatory regime designed to support and protect market integrity. This paper is intended to produce an in depth analysis of the statutory provisions, regulations and rules that form the basis of the regulatory regime governing the syndication of thoroughbred stallions for commercial breeding purposes and the succeeding operation of those syndicates. There are many industry partisans who recommend that the sale and buy of thoroughbred racehorses, including fractional interests or shares, should not be subject to regulation, because investment in thoroughbred horses is highly speculative and nothing more than a game of chance. This paper is about the syndication of thoroughbred racehorses and the regulatory regime designed to encourage and keep market integrity. This paper is planned to produce an in depth analysis of the statutory provisions, regulations and rules that form the basis of the regulatory regime governing the syndication of thoroughbred horses for racing purposes and the succeeding operation of those syndicates. Lower the Act, any person who is carrying on a financial services business dealing is a financial product (which includes the issuing, underwriting and disposing of interests in any managed investment product), or operating a registered scheme, must be licensed, and that the scheme(s) must be registered, subject to specific statutory exemption or Class Order relief. A financial product is provided to a person as a retail client if it is not provided to the person as a wholesale client. The regulatory regime applies to any person who is dealing in shares in thoroughbred horses for racing purposes (each a Horse racing syndicate), as virtually all joint ownership arrangements, typically partnership, co ownership or unit believe arrangements, satisfy the definition of MI ascribed by the Act and are subject to regulation. Any person (promoter) who is carrying on a financial services business dealing in shares in Horse racing syndicates, must retain an appropriate ASL authorizing the licensee to produce the services, regardless of whether or not a special syndicate is required to be registered. There is no statutory exemption or Class Order relief from this requirement. The manager of a Horse racing syndicate that is either a registered MI, or an unregistered scheme, where shares are made available only by personal offer, or to wholesale clients, must be an ABS Licensee. All Horse racing syndicates that are established as the result of a promoter dealing in shares are subject to regulation as miss’. Under the Act and the Class Order, a Horse racing syndicate that is established as the result of a promoter dealing in shares must be registered as a MI, unless it is either: The promoter of an present of shares in a Horse racing syndicate that is either a registered MI, or an unregistered Precede regulator approved Class Order supple syndicate, must reveal to prospective investors who are retail clients, all key information required to enable them to make an informed decision whether or not to invest. BASIC is responsible for administering the Act, including surveillance activities to support compliance, investigating suspected noncompliance and prosecuting breaches. As a Precede Regulator lower the Class Order: The regulatory regime governing this activity is founded upon the provisions of the Corporations Act 2001 (the Act) relating to managed investment schemes. Below the Act, any person who is carrying on a financial services business dealing in a financial product (which includes the issuing, underwriting and disposing of interests in any managed investment product), or operating a registered scheme, must be licensed, and the scheme(s) must be registered, subject to specific statutory exemption or Class Order relief. The manager of a stallion syndicate that is either a registered MI, or an unregistered scheme where shares are available only by personal offer’, or to wholesale clients, must be an ABS Licensee. All stallion syndicates that are established as the result of a promoter dealing in shares are subject to regulation as miss’. Below the Act and the Class Order, a stallion syndicate that is established as a result of a promoter dealing in sha
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Macquarie Legal Practice provides legal services in maximum areas of law, with exceptional emphasis on: Loans and Mortgages for business and residential purposes. Our Principal TONY fleeter has 30 years of active involvement in the industry and currently provides specialist services to some of Australia’s leading breeders, owners, stud masters, syndicators and trainers. This is an entertaining examination of proof of title of thoroughbred horses by two of the country’s leading lawyers on the subject.

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