Scheme and Syndicate

“scheme” and “syndicate” have the same meaning – “scheme” is used in the Corporations Act. “syndicate” is used in the ASIC Instrument and the ARR. In the context of this paper they can both be read as meaning “any arrangement between 2 or more persons (owners or lessees) to participate in the undertaking of caring for, training and racing the horse (as a whole) for their mutual benefit”