1. This Code applies to all Racing Clubs where:
1.1 the Racing Club Manager is paid for their role; or
1.2 the method of attracting participation in the Racing Club includes invitations to the public.
2. The Racing Club Manager and each member must enter into a written contract when each member joins the Racing Club.
3. If there is more than one member, each written contract must be substantially the same.
4. Each contract must contain the following:
4.1 a clause that acknowledges that participation in the Racing Club is for enjoyment,
does not guarantee a financial return and that members of the Racing Club do not hold any ownership rights in the Racing Club’s horse(s);
4.2 the duration of the Racing Club membership;
4.3 if applicable, how members may leave the Racing Club before it comes to an end;
4.4 the horse(s) registered to the Racing Club;
4.5 any rights each member has to sell, lease, transfer or assign their membership;
4.6 the participation costs for each member, including whether such cost is fixed or
variable and, where relevant, the consequences of any non-payment;
4.7 the benefits of Racing Club membership including, but not limited to, how any prize and appearance money won will be treated;
4.8 the time at which and procedure by which any payments to members will be made;
4.9 details of the Trainer(s); and,
4.10 the Racing Club decision making process relating to the management, training and
sale of the horse(s); and,
4.11 what process should be followed in the case of a dispute between the Racing Club Manager and a member.
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