Document ID: chunk:federal_register_of_legislation:F2021C01047:body:0:p8
Version: federal_register_of_legislation:F2021C01047
Segment Type: other
Provision Reference: 
Character Range: 17790–20639

respect of the syndicate, give the copy of those statements to ASIC within 14 days; and
(e) keep a separate account with an Australian bank in respect of the syndicate and use that account for the deposit and payment of all money relating to the operation of the syndicate.
(6) A promoter that relies on the exemption in subsection (1) in relation to a horse racing syndicate must comply with the conditions in subsections (7) to (14) in relation to the syndicate.
(7) The promoter must provide the lead regulator with a copy of all of the following in relation to the horse racing syndicate:

           (a) the syndicate agreement and any changes to the syndicate agreement—promptly after the syndicate agreement is entered into or the changes are made;

           (b) any finance lease agreement and any changes to the finance lease agreement—promptly after the finance lease agreement is entered into or the changes are made;

           (c) any other agreement (relevant agreement):

(i) establishing or affecting the syndicate; or
(ii) that relates to the syndicate and to which a participant in the syndicate is a party,
           and any changes to a relevant agreement—promptly after the relevant agreement is entered into or the changes have been made;

           (d)  each Product Disclosure Statement, before it is given to an offeree;

           (e)  any other information to be provided by the promoter to an offeree in relation to the syndicate—before providing the information to the offeree;

           (f)  any advertisement for interests in the syndicate or statement that is reasonably likely to induce people to acquire interests in the syndicate—before it is published.

(8) The promoter must not give an offeree with a Product Disclosure Statement unless the promoter has received the approval of the Statement from the lead regulator.
(9) The promoter must not, without the approval of the lead regulator, advertise interests in the horse racing syndicate or publish any statement that is reasonably likely to induce people to acquire interests in the syndicate.
(10) The promoter must provide to the lead regulator any assistance or information reasonably required by the lead regulator in relation to the promoter or the horse racing syndicate.
(11) The promoter must not engage in acts or omissions in relation to the horse racing syndicate unless the promoter reasonably believes those acts or omissions are in compliance with any rules, regulations or guidelines made by the lead regulator that apply to the promoter in relation to the syndicate.
(12) The promoter must provide to ASIC any assistance or information reasonably required by ASIC in relation to the promoter or the horse racing syndicate.
(13) The promoter must, before or on registration of the horse racing syndicate with the lead regulator,