Changes to racehorse syndication rules

SYDNEY Aug 31 2016

Racehorse syndicators will be able to compete at a higher level in the yearling market with the investment limit doubled and the number of shareholders per horse increased from 20 to 50.

Until now, syndicators have been limited to $250,000 to buy a horse, an amount that included insurance and other related costs.

That has been increased to $500,000 by the Australian Securities and Investment Commission.

Other changes announced by ASIC on Wednesday include increasing the maximum number of syndicate members to 50 and formalising the co-regularity arrangements between ASIC and the racing regulators.



- AAP

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