Chapter 28: Racing, Farm, Corporate or Stable Name

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28.01  Stable names, multiple ownerships and estates may be licensed to race provided the stable name, multiple ownership or estate is first registered with Standardbred Canada or the United States Trotting Association and licensed by the Commission. Where the owner of a horse is a stable name, multiple ownership or an estate, the following persons must apply for and be granted licences:

  1. In the case of a corporation with less than 10 shareholders:
    1. The corporation;
    2. Every corporate director; and
    3. Every shareholder.
  2. In the case of a corporation with 10 or more shareholders, but less than 50:
    1. The corporation;
    2. Every corporate director; and
    3. Every shareholder holding or controlling a number of shares giving the shareholder 5 percent or more of the voting rights in the corporation.
  3. In the case of a corporation with 50 or more shareholders or which is registered with a Canadian stock exchange:
    1. The corporation;
    2. Every corporate director or every member of the executive committee of the board of Directors;
    3. Every person acting as chairperson, secretary or holding a similar office;
    4. The person responsible within the corporation for the activities for which the licence is required; and
    5. Every shareholder holding or controlling a number of shares giving the shareholder 5 percent or more of the voting rights in the corporation.
  4. In the case of a general partnership:
    1. The partnership, if 5 or more partners;
    2. The manager or any person holding a similar office; and
    3. Every partner.
  5. In the case of a limited partnership:
    1. The limited partnership;
    2. The general partner and where the general partner is a corporation or a general partnership, the persons covered by sub-sections (a), (b), (c) and (d) of this section; and
    3. The manager or the general partner or any person holding a similar office.
  6. In the case of a registered stable name:
    1. The stable name; and
    2. The owner or owners of the stable.
  7. In the case of an estate:
    1. The estate; and
    2. The executors of the estate.
  8. The foregoing provisions of this section do not apply with respect to any shareholder of a corporation, to a maximum of 2 shareholders per corporation, not otherwise in violation of this rule, if each of the one or two such shareholders:
    1. Legally holds shares in a corporation merely in order to meet the statutory requirements of the jurisdiction in which the corporation is incorporated and otherwise has no beneficial interest in the corporation; or
    2. Is not an active participant in the management of the affairs of the corporation, apart from being a corporate director; or
    3. Holds less than one (1) percent of the issued and outstanding shares of the corporation.

28.02  Any liability of a registered stable, multiple ownership or estate and any penalty imposed upon it shall apply to all of the members or shareholders required to be licensed under Rule 28.01 and/or any horse owned wholly or in part by the stable, multiple ownership or estate.

28.03  Any suspension of a participant required to be licensed under Rule 28.01 will include any horse owned wholly or in part by the stable, multiple ownership or estate.

  1. Any liability of a registered stable and any penalty imposed upon the stable shall apply to all its members and/or horses owned wholly or in part by the stable. In the event one or more of the members of a registered stable is suspended, the suspension shall also include any horses owned wholly or in part by the stable.

28.04.01  Stable names, multiple ownerships, and general estates which are either partnerships or corporations must present to the Commission the following documentation in order to be eligible for a licence:
Partnerships (General and Limited)

  1. In the case of a partnership, the applicant must provide an official business names report from Service Ontario.
  2. In addition, the applicant must provide the names and addresses and consent for a record check of each partner in the partnership.

Corporations

  1. In the case of a corporation, the applicant must provide an official corporation profile report for the corporation from Service Ontario.
  2. In addition, the applicant must provide the names and addresses and consent for a record check of all of the directors and officers of the corporation.

28.04.02  Once a licence is granted to a partnership or corporation, either a partner, corporate director or officer, as the case may be, of the business entity, must inform the Registrar of any changes in the status of the business entity. The Registrar may require supporting documents regarding the change in status.

28.04.03  Failure by a partner, corporate director, officer, as the case may be, to inform the Registrar of change in status of the business entity may result in suspension or revocation of the business entity’s licence.