· Premier Racing Club Limited (‘The Club’) was established to provide Members with greater access to and enjoyment of horse racing.
· Each member acknowledges that their participation in the Club is primarily for the purposes of sharing the enjoyment of racehorses and not for investment purposes.
· In exchange for an annual membership fee The Club provides the Member with a number of benefits associated with horse racing and The Club’s ownership of racehorses. These benefits include
§ An opportunity to follow every one of the horses owned by The Club.
§ Regular updates and privileged information on the progress of The Clubs horses, both in training and future prospects.
§ Where available, the opportunity to participate in owners benefits/hospitality on a ballot basis.
§ Where available, to receive a share in any of the prize money won by the Club's horses in accordance with these terms and conditions.
· The annual Membership fee is effective for a full period of 12 months from the date that the Member joins. There is no commitment to remain a Member after the 12 months period has expired and in no circumstances will members be required to make further payments in relation to the keeping, training, insurance and racing of the racehorses, no matter what costs the Club may incur.
· In the event that the Club’s horses receive win or place prize money (typically paid to horses finishing in the first five places in a given race), Members will be entitled to receive a share of this amount as follows:
§ Prize money is allocated equally between all current Members of The Club as at 5pm on the last business day prior to the day the race is run.
§ Prize money accumulated by a Member is distributed in one lump sum at the end of the Members 12 month period. The Member may choose to credit any prize money towards renewal of their membership.
§ The sum distributed to Members per specific race is determined by the relative net total paid to the Club by NZ Racing, after standard deductions for the Trainer, the Jockey and if the relevant horse is leased, any lease % payable.
· Membership is for personal use only and cannot be utilised for any commercial purpose without prior approval from The Club.
· Members that receive a user name and password to access the Club website must not share this information with other parties.
· The Manager of the Club, Premier Racing Club Limited, will have the sole right and obligation to manage the day to day affairs of the Club and will liaise with the relevant authorities to ensure that all regulations are adhered to and that decisions are made within parameters that set as paramount the wellbeing of the Club’s racehorses.
· Horse racing is an unpredictable industry, and as such no specific guarantees can be made in any respect. Racehorses are fragile and like human athletes are susceptible to injury. The Manager will use reasonable endeavors to ensure that Club always provides a horse in training, in order that Members can continue to enjoy as many as possible of the benefits listed.
· Membership of The Club is restricted to persons aged 18 years or older.
· Premier Racing Club Limited reserves the right to vary these terms and conditions and will provide 14 days notice via our website if this occurs.
It is understood by the member that
· Horses that run in the colours of the Club, or in trainers colours on behalf of the club will be leased or owned by the Manager for that purpose. At no time does the Member have a legal or equitable interest in any one or more of the Club’s horses; and
· None of the rights conferred by The Club to a Member shall be capable of being gifted, sold, assigned or otherwise transferred.
· To the fullest extent permitted by law, the maximum liability of the Club to a Member arising out of or in connection with the Member’s membership of The Club shall not exceed the most recent annual membership fee paid by the Member at the time of the event or occurrence giving rise to the liability.
Cancellation and Refunds
Once a member has paid for a Premier Racing Club membership or a Premier Racing Club Gift Pack, no refunds or cancellations are permitted.
© Copyright 2009 Premier Racing Club Limited
