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Home > Set up a Syndicate
A Step-by-step Guide to Setting Up a Syndicate
Monday 01.12.2008
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A Step-by-step Guide to Setting Up a Syndicate
- Before you can register or transfer your horse, you will need to register your syndicate. The syndicate manager is required to complete an Application to Register a Syndicate form. Each owner must complete a copy of the Standard Syndicate Agreement section of this form. The cost of registering your syndicate is $275 with an annual renewal fee of $55.
- The manager should then send all documents to Racing Victoria. Once your syndicate has been registered, you can proceed with the following steps.
- The manager will need to set up a bank account into which prize money can be banked. It is often a good idea to set it up in the name of the manager as the 'syndicate account' with another member of the syndicate as the co-signatory. For example:
John Smith - Fast Horse Syndicate account John Smith and Anne Jones both sign for withdrawals If you have any problems at the bank, please call us at Racing Victoria on 1300 139 412.
- Source a horse to race by either contacting a trainer directly or calling Racing Victoria on 1300 139 412 or by e-mail.
- If your horse is unnamed, you will need to complete an Application to Register a Racehorse form and lodge it with Racing Victoria. This is where all the owners usually get to submit their choice of name. Seven name options are required for the form.
- Only the syndicate manager will be required to sign this form and only the details of the syndicate should be entered into 'Owner 1' in the owners details section on page 2. or If your horse is already named you will need to transfer the horse into your syndicate name. This can be done in the back of the horses Document of Description (registration papers). Only the syndicate manager will be required to sign this transfer.
- Once your horse is registered in your name, you and your partners name or your syndicate name, you will be ready to race.
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