Terms and Conditions of Membership

(i) Elite Racing Club Limited (company number 03296044) ("the Club") confers on the Member (for the duration of their membership with the Club) certain benefits associated with the Club's ownership of the horses currently in training plus those in the breeding programme. The benefits are as follows:-

(a) an opportunity to follow every one of the horses owned by the Club;

(b) to share the Club's black and white colours; and

(c) where available, to receive a share in any of the prize money won by the Club's horses in accordance with the terms and conditions herein.

(ii) Membership is effective for a full period of 12 months from whatever date the Member joins.

(iii) Upon completion of the first 12 months membership period, any Member who decides to renew, will be entitled to a loyalty discount from the full cost of membership.

(iv) Prize money won by the horses (see (v) below) during the period of membership is distributed equally amongst the Members (currently approximately 12,250) at the end of the Member's 12 months period and whereas the sum to date (since 1992) has exceeded £2.5million, there can never be any guarantee of any future level of prize money, given that this is dependent on how well the horses perform on the racecourse and the quantity of Members at the point of each race.

(v) The sum distributed to Members per specific race is determined by the relative net total paid to the Club by Weatherbys (excluding VAT). The only additional deductions from the total UK race prize fund are all entry/supplement fees and racehorse transport. All costs relating to a race outside of the UK are deducted from the prize money fund. In all circumstances the 12 months membership fee is not subject to any additional requests for payment in relation to the keeping and training of the racehorses, no matter what costs the Club may incur.

(vi) Membership is primarily an entertainment. It is not an investment opportunity.

(vii) If the Member chooses not to renew at the end of the 12 months period, the membership shall expire. There is no commitment to remain a Member after the 12 months period has expired.

(viii) The membership fee shall include the provision of a regular newsletter (worth £2.95 each x 48 = £141.60). To further enhance the entertainment, additional free publications may also be posted from time to time.

(ix) In view of the unpredictable nature of the industry, no specific guarantees can be made in any respect. For example; whilst the intention is to maintain an average of 15 horses in training, plus those in the breeding programme, and to provide 48 newsletters in a 12 months period, there are no specific guarantees. Note: there were 20 horses in training at 05/01/12. There were 48 newsletters in 2011.

(x) Hospitality events linked to a race meeting or stable visit, normally involve a 2 or 3 course lunch + facilities. These are normally offered at commercial rates.

(xi) Many racecourses offer Elite Racing Club Members discounts, and when offered, are published.
Note: year 2011 racecourse discounts averaged a 20% saving, with several hundred meetings included in the scheme.

(xii) When the Club has a runner, a telephone information line (NOT premium rate) will endeavour to keep Members up-to-date with trainer information regarding the winning chances of the horse and this information (including that accessed through the website security PIN) must not be conveyed by Members to other people.

(xiii) All decisions relating to the horses, trainers, administration, and general management, shall be vested in the managers.

(xiv) Elite Racing Club is a member of RSACA (Racing Syndicates And Clubs Association), a body of industry professionals working closely with BHA (British Horseracing Authority) and therefore bound by fair trading rules.

(xv) Flash photography is not permitted at any racing yard.

(xvi) Membership is for personal use only and cannot be utilised for any commercial purpose.

(xvii) Additional postage costs are applicable to overseas Members.

(xviii) Copyright of all published material is the property of the Club. Material submitted by Members (letters to the editor, photographs etc) must be their own work and the full copyright shall pass to the Club. Photographs are not normally returned.

(xix) Members must be aged 18 or over.

(xx) It is understood by the Member;
(a) Full legal and equitable title to the horses referred to in paragraph (i) above and all such other horses acquired by the Club from time to time remains at all times with the Club
(b) at no time does the Member have a legal or equitable interest in any one or more of the horses referred to above (or any share thereof); and
(c) all rights conferred to the Member by the Club are personal to the Member alone and may not under any circumstances whatsoever be gifted, bequeathed, sold, assigned, leased, form part of a loan, offered or granted as security to any third parties.

(xxi) The name "Elite Racing Club" and the Club logo, and the names "Soviet Song" and "Penzance" are registered trade marks.

(xxii) Any person who is banned from entering a racecourse and/or 'warned off' by the BHA, cannot be a member of Elite Racing Club.

(xxiii) The copying of substantive sections of the sentences used in these terms and conditions will be deemed an infringement of copyright, (the legal property of Elite Racing Club).

(xxiv) Elite Racing Club reserves the right to amend these Terms and Conditions at any time.

Honorary President: Lord Oaksey OBE.
Managing Director: Mr. A.J.Hill