The TTSC Racehorse Syndication Service provides a low-cost service to assist with the compliance requirements of the Australian Rules of Racing and ASIC Corporations (Horse Schemes) Instrument 2016/790 and its updated Regulatory Guide 91 (August 2016).
The TTSC Racehorse Syndication Service complies with all Principal Racing Authorities requirements in their duty as ASIC’s nominated Lead Regulator. The TTSC also acts on behalf of its clients when and where required as Promoter while overseeing its Authorised Representatives ensuring owners receive unencumbered title pro-rata to share holding, any shareholder that buys into a scheme receive consumer protection and any interest they acquire in an offer remains registered on the PPSR.
The Australian Rules of Racing in conjunction with ASIC Coporations (Horse Schemes) Instrument 2016/790 permit 50 or less investors to buy into any approved offer where the scheme value does not exceed $500,000 (inc GST).
AFSL License Details
- The TTSC holds an Australian Financial Services License (No. 288 213) with authorisation to provide product advice and deal in horse racing schemes.
- The TTSC is not authorised to provide personal advice (being advice that takes into account a person’s objectives, financial situation and needs) in relation to horse racing schemes.
- The TTSC does not charge for general advice relating to the acquisition of an interest in a horse racing scheme.
- The TTSC’s charges are detailed in the relevant Product Disclosure Statement
Preparation, Approval of a Product Disclosure Statement (PDS) for a horse racing schemes
- The TTSC Racehorse Syndication Service prepares the PDS for each client so its ready for review and approval by the clients appropriate Lead Regulator.
- As the AFSL holder the TTSC assists with preparation, creation, review of any advertising (regardless of format) that relate to the the scheme
Maintenance of records for horse racing schemes
- Maintain a separate bank account for each offer for depositing monies relating to each horse racing scheme’s operation
- When fully subscribed, notify and register the scheme as per each Lead Regulators requirements.
- When not fully subscribed repay monies received.
Benefits for your business
- The TTSC Racehorse Syndication Service ensure;
- Clients have peace of mind knowing they are complying with the relevant Rules of Racing for public syndication of thoroughbreds.
- The TTSC Racehorse Syndication lists shares for sale in your thoroughbred on its website at no additional cost.
- Ensure its clients are able to provide a professional syndication service and your owners receive full disclosure of costs.
- The TTSC actively assists in the promotion of shares for sale.
- Ensure information is kept current, thus, making the most of the latest race result!
- From $2,560.00 (inc. GST) for Authorised Representatives and $4,063.35 (inc GST) for non-Authorised Representatives as of July 1st, 2017.
Information retained by the TTSC Racehorse Syndication is for the purposes of managing your day-to-day business affairs and it won’t be shared with other parties without your express consent, or when required by law.