This part deals with:
(a) the definition of a “managed investment scheme” in the Act, commonly referred to by its prefix “MIS;
(b) the joint ownership arrangements of thoroughbred racehorses within the context of the regulatory regime; and
(c) the conditions of registration (as the owner or lessee) of a racehorse and the ARR that require the members of any arrangement between 2 or more owners or lessees to appoint:
(i) a manager; and
(ii) a trainer;
to manage aspects of the arrangement on behalf of the group.