I believe syndications are regulated by the ASIC. So not easy to change things ...








Quote Originally Posted by Messenger View Post
I have noticed this in the product disclosure statement for a syndication from last year

A statement that where the partnership/syndicate has not been fully subscribed within six months from
the date on which invitations were first made , ALL moneys held , together with interest, will be returned
to investors within (10) business days:
The promoter & manager acknowledges that they shall abide by the licensing laws that “Should the promotion of
this horse fail, to be fully subscribed within 6 months the promoters shall refund all monies held in trust plus
interest at the applicable rate paid by the CBA within 10 days of expiration”.

I think this should read "if requested"