Document ID: chunk:federal_register_of_legislation:F2021C01047:body:0:p10
Version: federal_register_of_legislation:F2021C01047
Segment Type: other
Provision Reference: 
Character Range: 22852–25527

a private horse breeding scheme does not have to comply with Part 7.9 of the Act (other than sections 1017E, 1017F, 1020D and 1021O) in relation to any of the following:
(a) a recommendation to acquire an interest in the scheme;
(b) an offer to issue or sell an interest in the scheme;
(c) the issue or sale of interests in the scheme.
(6) A person (other than a person to whom subsection (5) applies) does not have to comply with Part 7.9 of the Act in relation to either of the following:
(a) a recommendation to acquire an interest in a managed investment scheme;
(b) an offer to arrange the issue of an interest in a managed investment scheme,
which appears to meet the definition of private horse breeding scheme except where the person is aware, or ought reasonably to be aware, that the scheme does not meet that definition.

Part 3—Savings and transitional

7 Horse racing syndicates

Application of this instrument and ASIC Class Order [02/319]
(1) ASIC Class Order [CO 02/319] continues to apply, despite its repeal, until 31 December 2016.

Promoters and managers relying on ASIC Class Order [02/319]
(2) Where a person was an existing promoter or existing manager of an existing exempt scheme immediately before the transition time, that person may rely on the relief in this instrument in relation to the scheme in the case set out in subsection 5(2) and subject to the conditions set out in subsections 5(7) to (14), with the following modifications:
(a) paragraph 5(2)(d), subsection 5(3) and subsection 5(8) do not apply in relation to the Product Disclosure Statement for the existing exempt scheme;
(b) paragraph 5(2)(e) does not apply;
(c) paragraph 5(2)(g) does not apply;
(d) subsection 5(7) does not apply to the extent the promoter has provided the existing lead regulator with a copy of the relevant document in relation to the existing exempt scheme;
(e) subsection 5(9) does not apply to the extent the promoter received approval from the existing lead regulator for the advertisement or publication in relation to the scheme before the transition time;
(f) subsection 5(13) does not apply in relation to the existing exempt scheme;
(g) if the existing lead regulator of the scheme is not approved as a lead regulator under this instrument as at the transition time, the promoter must ensure that both the promoter and the scheme are registered with a lead regulator approved under this instrument within 6 months of the transition time.
(3) A lead regulator approved under this instrument must, in registering an existing exempt scheme for the purposes of paragraph (2)(g), take into account the operation of paragraphs (2)(a) to (f) in relation to