TERMS & CONDITIONS OF MEMBERSHIP (1) Jump For Fun Racing Limited (company number 5562359) grants the member (for the duration of his membership with the Club) certain benefits associated with the Jump For Fun Racing Limited's ownership of the horses currently in training. 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 yellow and black colours; and (c) where available, to receive a share in any of the prize money won by the Club's horses, and a share in any profits made in the respect of the sale of any of the club's horses, in accordance with the terms and conditions herein. (2) Membership is effective for a full period of 12 months from whatever date the member joins. Once the member has been accepted no refund will be given for any part of the period. (3) Prize money won by the horses during the period of membership is repaid to the current members at the end of the year. The year will run from 1st May to 30th April. The prize money allocated to the members will be distributed in equally amongst the members, with each member receiving a payment pro-rata to the portion of the year during which his membership was active. 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 relevant time. Where any horse is sold by the club and realises a profit on its original purchase price and purchase costs then 50% of the profit will be distributed equally amongst the members. With each member receiving a payment pro-rata to the portion of the year during which his membership was active. (4) Membership is primarily an entertainment. It is not an investment opportunity. (5) 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 month period has expired. (6) The membership fee shall include the provision of a periodical newsletter, (issued at least once a month). To further enhance the entertainment, additional free publications may also be posted from time to time. (7) The sum distributed to Members per specific race is determined by the relative net total paid to the Club by Weatherbys. The only additional deductions from race prize money are costs relating to a race outside of the United Kingdom or any race where an entry supplement is paid. In all circumstances the 12 months membership fee is not subject to any additional requests for payment in relation to the keeping, training and racing of the racehorses, no matter what costs the Club may incur. (8) Hospitality events linked to a race meeting or stable visit, normally involve a 2 or 3 course lunch + facilities. They are offered at a fixed cost and are entirely optional. (9) Racecourses may offer the Jump For Fun Racing Club members discounts, and when offered, are published.    (10) Information on when the Club's horses will run is published on the clubs website. (http://www.jumpforfunracing.co.uk/). The club 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. (11) 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 6 horses in training, and to provide 12 newsletters in a 12 months period, there are no specific guarantees. The decision on the purchase or sale of horses shall be at the sole discretion of the Company's Directors. (12) All decisions relating to the horses, trainers, administration, and general management, shall be vested in the Company Directors. (13) Members visiting the stables in Naunton, Gloucestershire will be entitled to take three guests. No fee is required. (14) Membership is for personal use only and cannot be utilised for any commercial purpose. (15) 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 full copyright shalll pass to the Club. Photographs are not normally returned. (16) Members must be aged 18 or over. (17) It is understood by the member; (a) Full legal and equitable title to the horses referred to in paragraph (1) 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, sold, assigned, leased, form part of a loan, offered or granted as security to any third parties. (18) Members are permitted, under Jockey Club Rules, to back and lay horses (including the Club's own horses) on Betting Exchanges and with bookmakers. (19) The club will provide 10 owners badges for each race in which the club has a runner. Having owners badges gives access to Owners and Trainers bars, restaurants and viewing areas, the parade ring to meet the jockey and trainer, the winners enclosure should our horse win or get placed and all other public areas on the racecourse. An owners badge cannot be guaranteed, and badges will be allocated by a draw process. The club may also offer to purchase discounted badges on your behalf. The price of these varies depending on the racecourse being visited. If you require badges not allocated via the draw for the 10 badges provided these will be charged to you at cost. These badges may also be at a discounted rate. Any badges purchased on an owner's behalf must be paid for on the day. (20) Each member acknowledges that it is his personal responsibility to keep the club's record of their contact details up to date. Each member further undertakes to keep confidential any pass codes issued to them to access internet advice relating to the horses. If at any time the club's dirctors consider the member is in breach of this duty they may block the members pass code and deny them access to such internet advice relating to the horses. (21) These terms and conditions are governed by the laws of England and each member agrees to submit to the exclusive jurisdiction of the courts of England.