1.1 Part Summary

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.