New Zealand Gazette – 2016 – No. 4

Page 13

✨ Bloodstock Syndicate Management Obligations



NEW ZEALAND GAZETTE, No. 4 — 20 JANUARY 2016

without the unanimous consent of all Participants.

22.4 Each Governing Document must contain a disputes resolution process.

22.5 If Bloodstock are leased to a Bloodstock Syndicate or a Bloodstock Company with a right of purchase, the Governing Document or constitution (in the case of a Bloodstock Company) must contain a provision to the effect that two valuation reports must accompany any recommendation to Participants or Shareholders, as the case may be, to exercise any such right of purchase. The exercise of a right of purchase must be authorised in the manner prescribed by the Governing Document or constitution (in the case of a Bloodstock Company).

SCHEDULE

DISCLOSURE STATEMENT

[Syndicate or Bloodstock Company Name]

1. Directory

Name of Promoter: ___

Address of Promoter: __

Manager or Directors: ___

Bankers: ___

Accountants (if applicable): ___

Auditors (if applicable): ___

Solicitors/Legal Advisors (if applicable): ___

2. Business Plan (if applicable) or Objects

Make reference to estimated dates by when the bloodstock will commence training and racing or in the case of breeding when breeding activity will commence.

Does not need to be lengthy, but as a guide, should address:

  • The number of horses in the syndicate
  • The reason the syndicate has been put together
  • Where the horses will begin their racing career
  • The potential for the horse(s) to race overseas (e.g in Australia or Asia)
  • Which trainer(s) will be engaged to train the horse(s)
  • If the horse(s) is likely to be a sprinting or staying prospect(s).

3. Bloodstock

(a) Name: ___

(b) Breeding (Sire/Dam): __/____

(c) Sex: ___

(d) Foaling Year: ___

(e) Microchip number: ___

(f) Brand Marks: Left Right

NB: If more than one horse in the Syndicate/Company, the required details of bloodstock may be attached in an appendix.

In relation to a "Greenfields Offer" (that is, where Bloodstock have not yet been purchased), set out the brief for purchase, referring to sex, type, age, and all other applicable criteria.

In relation to Leased bloodstock include the following additional information:

Leased Bloodstock

(g) Lessor: ____

(h) Term of Lease: ____

(i) Right of Purchase (ROP): YES / NO

(j) If ROP the Exercise Price: NZ$___.00 (including GST)

(k) Other material terms and conditions

In the case of Bloodstock acquired by Participants by way of financial lease or other credit arrangement all key information will be disclosed to you under the Credit Contracts and Consumer Finance Act 2003 which gives rise to certain rights of cancellation.

[Delete if not applicable]

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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2016, No 4




✨ LLM interpretation of page content

🏭 Management Obligations and Reporting Requirements for Bloodstock Syndicates (continued from previous page)

🏭 Trade, Customs & Industry
Management, Bloodstock Syndicate, Bloodstock Company, Participants, Shareholders, Reporting, Auditing