Terms and Conditions

Management

Lucky Clover Thoroughbreds (LCT) will remain the Managing Owner of all horses in which they hold a controlling interest.

Purchase Price

The purchase price includes, but is not limited to, the following costs (inclusive of GST) up to 31 March 2026:

  • Initial purchase price
  • Veterinary scoping
  • Race series nominations
  • X-rays
  • Bloodstock agent fees
  • Freight
  • Breaking-in costs
  • Ordinary veterinary procedures
  • Agistment

Ongoing Fees

From 1 April 2026, an ongoing monthly fee of $50 per 1% ownership interest will apply.

This fee is guaranteed until 31 August 2026.
From 1 September 2026, the fee will revert to LCT’s standard monthly rate, currently $50 per 1% ownership interest. This rate is reviewed annually.

Monthly fees cover all costs associated with training and agistment during the horse’s racing career, excluding:

  • Feature race nomination and entry fees
  • Extraordinary or non-routine veterinary expenses

Insurance

Insurance is included in the purchase price and provides 12 months cover from the fall of the hammer, insured to the auction purchase price excluding GST.

After this date, insurance becomes the responsibility of the shareholder.

Payment Terms

  • All invoices issued by LCT are payable within 15 days of issue.
  • LCT reserves the right to apply:
    • A 5% late payment fee on overdue invoices
    • A $10 administration fee for incorrectly referenced payments
  • Monthly fee invoices are issued on the 1st of each month.
  • An Activity Statement for each owner’s account is issued on or around the 20th of each month.

Named Ownership

  • A minimum 5% ownership interest guarantees individual named ownership.
  • Ownership interests below 5% may require inclusion in an LCT-managed syndicate.
  • Owners included in an LCT-managed syndicate will incur a $15 syndicate fee.

Sale of Shares

Any owner wishing to sell their ownership interest must notify the Managing Owner (LCT).
LCT will endeavour to assist with the sale; however, LCT is not responsible for:

  • The successful sale of the interest
  • Any fees or costs associated with the sale

Ownership Rights

  • All owners will be registered in compliance with Racing Australia Rules and Guidelines.
  • Each owner will have voting rights proportional to their ownership percentage on matters relating to the horse, including but not limited to:
    • Sale of the horse
    • Veterinary procedures
    • Change of trainer
    • Decisions affecting the horse’s ongoing racing career

Governing Rules

Ownership rights and obligations are governed by the Australian Rules of Racing, as amended from time to time.