Jan 12, 2012
Selling shares in horses?
Do you know the rules and want peace of mind in the future?
in conjunction with
Clanbrooke Racing (holder of AFS license 260214)
are pleased to introduce
“A person who offers/promotes shares in a racehorse to a third party may be liable to substantial penalty by ASIC if they are not appropriately licensed. The Corporations Act 2001 and Class Order 02/319 require promoters to hold an Australian Financial Services License (AFSL) before they can commence promoting/advertising shares.”
`Before shares can be publicly advertised, a PDS (Product Disclosure Statement) must be lodged with the Lead Regulator for approval. The PDS gives as much information as possible to a new client.’
Recently, many trainers and breeders have received correspondence from the Lead Regulator (Racing Victoria or equivalent in your state) and have been asked to remove advertising that contravenes current legislation or face significant financial penalty.
`MiSyndications offers a solution’
Contact us for more information about MiSyndications
Mobile: 0425 743 347