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The Australian Securities and Investment Commission (ASIC) has released a new legislative instrument on horse schemes, replacing three class orders on horse racing syndicates and horse breeding schemes that were due to expire (‘sunset’).
The new instrument follows a public consultation “Consultation Paper 242 Remaking ASIC class orders on horse racing syndicates and horse breeding schemes”, in which ASIC proposed to remake the class orders without any fundamental changes.
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The existing class orders have effectively been combined into a single instrument with no fundamental changes, as ... (read more)