Please find some information and resources below regarding horse racing syndicates that may assist you.
What is a horse racing syndicate?
A horse racing syndicate is a group of people (two or more) that become part-owners in a racehorse by owning shares in the racehorse and splitting the associated costs. A horse racing syndicate can be run by an individual or by a company, and there are different types of horse racing syndicates.
Do you want to start a private small-scale horse racing syndicate with friends or associates in Tasmania?
For further information about this process, please contact the Office of Racing Integrity (ORI) in Launceston on (03) 6777 1900, or visit the ORI homepage on the Department of Primary Industries, Parks, Water and Environment website (https://dpipwe.tas.gov.au/racing/thoroughbred-racing/registration-and-licensing-thoroughbred) and complete and submit the relevant form.
Do you want to be a horse racing syndicate promoter and advertise racehorse shares for sale in a horse racing syndicate in Tasmania?
This type of horse racing syndicate will generally be considered a managed investment scheme (MIS) by the Australian Securities and Investments Commission (ASIC). It involves a group of people agreeing to contribute money in return for a share of prize money won by a racehorse. Operating a MIS can be a costly exercise as it is a requirement for the promoter to hold an Australian Financial Services Licence (AFSL) prior to advertising any racehorse shares for sale. There are also other compliance requirements that must be met.
If the horse racing syndicate meets certain criteria (including having under 50 members, and the total amount raised from interests in the horse does not exceed $500,000.00) it will not be considered a MIS, and Tasracing will regulate the syndicate as a Lead Regulator approved by ASIC. Tasracing must approve any entity intending to advertise shares in a racehorse prior to any public advertising. All approved entities are registered on Tasracing’s Register of Promoters.
If you want to apply to be an approved promoter in Tasmania please complete the relevant form below and send it to Tasracing at firstname.lastname@example.org or at PO Box 730, Glenorchy TAS 7010, or deliver it in person to the front counter on the Mezzanine Floor at Elwick Racecourse, 6 Goodwood Road, Glenorchy TAS.
Other forms are also available below for your convenience.
- APPLICATION TO BE PLACED ON LEAD REGULATOR’S “REGISTER OF PROMOTERS” AS AN AUSTRALIAN FINANCIAL SERVICES LICENSEE
- APPLICATION BY AN AFSL TO APPOINT AN AUTHORISED REPRESENTATIVE
- PRODUCT DISCLOSURE STATEMENT (CONTENTS CHECKLIST & PROMOTER STATUTORY DECLARATION)
- PROMOTER CUSTOMER IDENTIFICATION FORM
- PRODUCT DISCLOSURE STATEMENT PRO FORMA
For further information, please see the below resources or contact Tasracing.
- ASIC Regulatory Guide (RG) 91): horse breeding schemes and horse racing syndicates (https://download.asic.gov.au/media/3995406/rg91-published-31-august-2016.pdf)
- ASIC Corporations (Horse Schemes) Instrument 2016/790 (https://www.legislation.gov.au/Details/F2017C00166); and
- The Rules of Racing (https://www.racingaustralia.horse/FreeServices/Australian_Rules_Of_Racing.aspx).
Australian Financial Services Licensed Promoters (Issued by ASIC)