In early 2018 two passionate greyhound racing businesses came together to form Greyhound Syndicating Services (GSS).
Sandown Greyhounds Racing Club (Sandown) and Spolly Syndications Pty Ltd (SSPL) had a vision to offer greyhound syndicates of the highest integrity and standards. The general public can be assured that the syndicates will maintain high animal welfare standards, comply with applicable national greyhound licensing laws and the Corporations Act.
GSS considers, in accordance with policy of Greyhound Racing Victoria, that syndication has a critically important role in the future of our industry, supporting increased participation, introducing new owners to the sport.
As an authorised representative of Primary Securities, GSS provides syndication services to support racing clubs, syndicators, trainers, breeders and/or owners in promoting and managing greyhound syndicates in accordance with applicable laws, and with a view to maintaining high animal welfare standards and enhancing the greyhound industry.
GSS has entered into an agreement with Primary Securities Ltd (PSL) to act as responsible entity for a registered scheme to be operated by GSS. PSL holds Australian financial services license 224107 under which it is authorised to act as responsible entity for any financial asset registered managed investment scheme.
Greyhound syndicates are subject to the managed investment scheme rules of the Corporations Act 2001. As the Australian Securities and Investments Commission (ASIC) has not provided class order relief from these provisions for the promoters or managers of greyhound syndicates, GSS and PSL have devised a compliance solution for greyhound syndicate promoters and managers by investors being in a multi-class financial assets trust, with each class investing (via Primary Securities) in a separate greyhound syndicate.