Champion Thoroughbreds | Champion Thoroughbreds Disclosure Statement
1. GENERAL
The promotion of horse racing schemes is a financial service regulated by the Corporations Act and requires Champion Thoroughbreds Pty Ltd ("Promoter"), as the holder of an Australian Financial Services Licence 334760, to provide you with this Financial Services Guide ("FSG") prior to promoting an interest in a horse racing scheme.
This FSG is intended to inform you of certain basic matters relating to the services that Champion Thoroughbreds Pty Ltd may provide to you, including the services Champion Thoroughbreds Pty Ltd are authorized to provide, how you will pay for those services, how Champion Thoroughbreds Pty Ltd gets remunerated and what to do if you have a complaint. It is intended that this FSG should assist you in determining whether to utilize any of the financial services that Champion Thoroughbreds Pty Ltd is authorized to provide.
This FSG contains general information only and specific information relating to horse racing schemes promoted by Champion Thoroughbreds Pty Ltd is contained in the Product Disclosure Statement for each scheme which is available from Champion Thoroughbreds Pty Ltd upon request.
2. WHO WILL BE PROVIDING THE FINANCIAL SERVICE?
Champion Thoroughbreds Pty Ltd holds the license in its own name and provides the financial services referred to in section 3 of this FSG in his capacity as principal, and not as an authorized representative of any other licensee.
The financial services referred to in section 3 of this FSG are provided either by the Promoter itself or on its behalf by employees or authorized representatives engaged by it in accordance with the Corporations Act.
Champion Thoroughbreds Pty Ltd as principal is solely responsible for the financial services that it provides pursuant to its license.
3. WHAT FINANCIAL SERVICES ARE CHAMPION THOROUGHBREDS PTY LTD AUTHORISED TO PROVIDE?
Champion Thoroughbreds2 Pty Ltd is authorized to issue interests in horse racing schemes. To obtain an interest in a horse racing scheme you need to obtain from Champion Thoroughbreds Pty Ltd a Product Disclosure Statement in relation to the relevant horse and complete the purchaser’s acknowledgement and application.
Champion Thoroughbreds Pty Ltd is also authorized to provide general advice in relation to horse racing schemes. Champion Thoroughbreds Pty Ltd is not authorized to provide personal advice (being advice that takes into account a person’s objectives, financial situation and needs) in relation to horse racing schemes.
4. HOW DO I PAY FOR FINANCIAL SERVICES PROVIDED TO ME BY THE PROMOTER?
There is no charge for general advice given to you by Champion Thoroughbreds Pty Ltd relating to the acquisition of an interest in a horse racing scheme.
If you choose to invest in one of Champion Thoroughbreds Pty Ltd’s horse racing schemes you will be required to pay the purchase price for your relevant interest in that scheme. The purchase price for an interest varies according to the particular horse the subject of a racing scheme and the number of participants in that scheme. The Product Disclosure Statements for Champion Thoroughbreds Pty Ltd’s relevant syndicated horses contains details of the purchase price.
5. HOW DOES CHAMPION THOROUGHBREDS PTY LTD GET REMUNERATED FOR THE PROVISION OF FINANCIAL SERVICES?
As stated above, Champion Thoroughbreds Pty Ltd does not charge for giving general advice in relation to horse racing schemes.
In relation to the acquisition of an interest in a horse racing scheme, the purchase price that you pay Champion Thoroughbreds Pty Ltd represents a proportion (based on the number of participants in the scheme) of the acquisition costs for that horse, the costs of promotion (a breakdown of these costs is contained in the Product Disclosure Statement for each syndicated horse) and in some cases a margin.
6. IS AN INTEREST IN A HORSE RACING SYNDICATE AN INVESTMENT SUITABLE TO MY NEEDS AND FINANCIAL CIRCUMSTANCES?
As stated in section 3 of this FSG, Champion Thoroughbreds Pty Ltd gives general advice only and does not give personal advice that takes into account an investors objectives, financial situation and needs.
A horse racing syndicate is a speculative investment with its own risks and each investor should obtain their own independent advice as to the suitability of such an investment for them.
A copy of the Product Disclosure Statements for each horse racing scheme containing important details about that scheme is available for you upon request and we suggest you study it prior to making any decision to invest.
7. WHAT DO I DO IF I HAVE A COMPLAINT ABOUT A FINANCIAL SERVICE PROVIDED TO ME?
If you have a complaint about either the advice that Champion Thoroughbreds Pty Ltd has given you or about an interest in a horse racing scheme that you have acquired from it, you should take the following steps:
First - contact Champion Thoroughbreds Pty Ltd and discuss your complaint with them. Champion Thoroughbreds Pty Ltd has an internal dispute resolution process that it will utilize in an effort to resolve your complaint as quickly as possible.
Second - if your complaint is not resolved to your satisfaction after 5 days of having notified and discussed it with Champion Thoroughbreds Pty Ltd, you have a right to complain to the Financial Ombudsman Service (an external industry dispute resolution body of which Champion Thoroughbreds Pty Ltd is a member), whose details are:
FINANCIAL OMBUDSMAN SERVICE
GPO Box 3
Melbourne Victoria 3001
Ph: 1300 780 808
Fax: 03 9613 6399
Email: info@fos.org.au
Website: www.fos.org.au
