Definitions and rules set out in the ARR relating to arrangements between 2 or more persons owning or leasing a racehorse.
RV Promoter Policy [issued in Nov 2011, Jun 2014 and Jan 2017]
Questions to determine:
- if a proposed horse racing scheme will satisfy the definition of a managed investment scheme; and
- if the person offering interests is required to be licensed
Control in fact.
The law of conversion