Financial Services Guide

ABOUT THIS DOCUMENT

This Financial Services Guide (FSG) is an important document.

This FSG is designed to assist you in deciding whether to use any of the financial services offered by Custodian Land Syndicate Limited ABN 81 127 663 414 (Custodian Land) who is the holder of Australian Financial Services Licence (AFSL) 319800. 

The relevant financial services are described in this FSG.

This FSG contains important information about:

  • The services Custodian Land may offer you
  • The remuneration, commissions or other benefits that may be paid to Custodian Land or other relevant persons in relation to the financial services offered
  • How you can make a complaint about us
  • How you can contact us
  • Interests, associations and material relationships

OTHER DOCUMENTS YOU MAY HAVE RECEIVED FROM US

Prospectus

A Prospectus is an offer document lodged with ASIC under the Corporations Act.

Each Prospectus contains important information about the investment you are considering and will assist you in making an informed decision on whether or not to make the investment.

A Prospectus contains information such as:

  • Reasons why to invest in the project the subject of the Prospectus
  • Details of the relevant project
  • Information about Custodian Land who will be the manager of the project
  • Details of the directors and secretary to the company in which shares are offered pursuant to the Prospectus
  • The offer being made pursuant to the Prospectus
  • Investment risks
  • How any funds you may wish to invest will be invested
  • Financial information including forecast returns
  • Reports from independent experts
  • Fees and charges applicable
  • Potential taxation implications

We rely on any Prospectus which we may issue as to any statements we may make about the investment we are offering.

Any other instructions you may wish to give or information which you may seek in relation to our financial products must be in writing and signed by the persons or entity seeking or giving the instructions or information.

FROM WHEN DOES THIS FSG APPLY?

This FSG applies from 23 January 2012 and remains valid unless a further FSG is issued to replace it.  We may give you a supplementary FSG.  Any supplementary FSG does not replace this FSG but will amend and/or cover services or matters not covered or contemplated by this FSG.

WHO IS RESPONSIBLE FOR THE FINANCIAL SERVICES PROVIDED?

Custodian Land is responsible for the financial services that will be provided to you or through you to your family members, including the distribution of this FSG.  Custodian Land is responsible for the financial services provided by any of its Authorised Representatives acting under our authorisation.

Any Authorised Representative of Custodian Land is authorised to give general advice only to retail and wholesale clients and deal in product advice which relates to any Prospectus for the issue of shares in a special purpose vehicle of which Custodian Land is engaged as manager.

Please note any authorised representative acts on behalf of Custodian Land and not you.

Any Authorised Representative of Custodian Land is authorised to give general advice only to retail and wholesale clients and deal in product advice which relates to any Prospectus for the issue of shares in a special purpose vehicle of which Custodian Land is engaged as manager.

Please note any Authorised Representative acts on behalf of Custodian Land and not you.

CONTACT DETAILS

You can contact Custodian Land by:

  • Calling us on: 1800 554 622
  • Visiting our website at: www.custodianland.com.au
  • Writing to us at: PO Box 3070, Bangor NSW 2234
  • Faxing us at: (07) 5527 4955

WHAT KINDS OF FINANCIAL SERVICES ARE WE AUTHORISED TO PROVIDE TO YOU AND WHAT KINDS OF FINANCIAL PRODUCTS DO THOSE SERVICES RELATE TO?

Custodian Land is a fund manager for individual special purpose vehicles established to carry out land subdivisions.

Custodian Land is manager of Custodian Truganina Syndicate Limited, Custodian Cunningham Rise Syndicate Limited, Custodian Sunbury Syndicate Limited and Custodian Pimpama Rivers Syndicate Limited.  More details about the management by Custodian Land of those special purpose vehicles can be obtained in the Prospectus for the issue of shares in those companies.

Additional information can be obtained from our website at www.custodianland.com.au.

ABOUT OUR FINANCIAL SERVICES

Our AFSL authorises us to:

  • Give general financial product advice
  • Deal in a financial product

When providing any of these financial services, Custodian Land is acting on its own behalf.

ASSOCIATIONS OR ANY OTHER MATERIAL RELATIONSHIPS

Scott Watson is director of Custodian Land and an employee of JLF.  Scott Watson holds either directly or indirectly 22,800 shares in Custodian Land.

Dora McBain is a director of Custodian Land and both an employee of and the company secretary of JLF.  Dora McBain holds either directly or indirectly 11,400 shares in Custodian Land.

JLF holds 199,250 shares in Custodian Land and is a service provider to both Custodian Land and special purpose vehicles which engage Custodian Land to provide company management, project management and marketing services.

Brett Woods is a director of Custodian Land and principal of Eclipse Accounting Group. Brett holds either directly or indirectly 11,500 shares in Custodian Land.

David Shaw is both a director and shareholder of Custodian Land and principal of WSC Group NSW Pty Ltd, WSC Group QLD Pty Ltd and WSC Group VIC Pty Ltd.  David holds either directly or indirectly 40,050 shares in Custodian Land.

WSC Group NSW Pty Ltd is a service provider to both Custodian Land and special purpose vehicles which engage Custodian Land to provide company management, project management and marketing services.

These associations, relationships and other related party transactions are detailed in each Prospectus for the issue of shares in any special purpose vehicle of which Custodian Land is engaged as manager.

ABOUT REMUNERATION AND OTHER BENEFITS

If you make an investment in shares pursuant to any Prospectus for the issue of shares in a special purpose vehicle of which Custodian Land is engaged as manager we will receive fees in relation to your investment.

The specific fees for each syndicated investment are detailed and explained in the relevant Prospectus.

Typically the fees will include “up front” entry, on going management and administration and performance fees.

Some of the fees are a fixed sum per annum, other fees are calculated as a percentage of the purchase price of the property to be acquired and developed, as a percentage of the capital raised, as a percentage of the development costs for the project or as a percentage of the gross sales revenue received from allotment sales.  Performance fees are payable having regard to a percentage of the pre-tax profits adjusted after you as an investor receive a certain minimum shareholder return as a percentage of your capital invested.

Fees payable pursuant to Custodian Land’s current investment opportunity (the replacement Prospectus for the issue of shares in Custodian Pimpama Rivers Syndicate Limited) are:

  • Project Management Fees – an ‘up front’ project management fee of 7.0 per cent (inclusive of GST) or the market value of the property plus ‘on going’ management fees of 2.0 per cent plus GST of the gross sales price received from allotment sales;
  • Company and Asset Management Fees – 3 per cent plus GST of the of the gross sales price received from allotment sales;
  • Secretarial Fee - $60,000 per annum plus GST;
  • Performance Fee – 10 per cent of the pre-tax profits adjusted for an equivalent shareholder return of 12.55 per cent per annum on the total capital invested;
  • Asset Identification Fee – 3 per cent plus GST of the total GST inclusive property purchase price;
  • Capital Raising and Co-ordination Fee – 3 per cent plus GST of the total capital raised.

JLF as a service provider is entitled to the Project Management Fees detailed in (a) and WSC Group NSW Pty Ltd as a service provider is entitled to the secretarial fee detailed in (c).

Scott Watson, Dora McBain, David Shaw and Brett Woods will receive directors’ fees ($24,000 each per annum plus GST pursuant to the replacement Prospectus for the issue of shares in Custodian Pimpama Rivers Syndicate Limited).

If you invest on the basis of a recommendation of an adviser who is a representative of other AFSL holders, these entities may receive commission and performance fees from us in relation to the investment you make.  These fees may range from 2 per cent to 5 per cent of the capital you invest.

ENQUIRIES AND COMPLAINTS

At Custodian Land we always work hard to build strong and lasting relationships with our investors.

To demonstrate that we apply a consistent and rigid approach towards dealing with members of the public and to ensure we are responsive to any complaints (whether the complaints relate to Custodian Land itself or to third parties upon whom Custodian Land relies in the delivery of its products) it is important that an established framework is in place for:

  • recording the particulars of a complaint;
  • determining the department or division to which the complaint relates;
  • determining the individual or department who shall take responsibility for addressing and resolving the complaint;
  • ensuring an individual accepts responsibility for addressing the complaint;
  • addressing and resolving the complaint in a timely manner;
  • ensuring the complaint rectification does not come to a standstill at any point; and
  • confirming the response has satisfied the complainant’s concern/complaint.

Accordingly, Custodian Land has developed and implemented a “Complaints Handling Framework.”

A copy of our “Complaints Handling Framework” is available to be downloaded at www.custodianland.com.au or by calling us on 1800 554 622 during business hours.

If you have any questions or complaints about the financial services we provide, please:

  • Call us on 1800 554 622  during business hours, or
  • Write to us at PO Box 3070 Bangor NSW 2234

Any complaint received by us will be handled in accordance with our “Complaints Handling Framework”.

If your complaint has not been resolved in accordance with our “Complaints Handling Framework” or you are otherwise not satisfied with the way we are handling any complaint or ultimately not satisfied with the decision, you may contact the Financial Ombudsman Service which is an independent, external dispute resolution scheme whose decisions are binding on us.

The details for the Financial Ombudsman Service are:

  • Call them on: 1300 780 808 during business days; or
  • Fax them on: 03 9613 6399; or
  • Write to them at: GPO Box 3, Melbourne VIC 3001, Australia

COMPENSATION ARRANGEMENTS

Custodian Land has a Professional Indemnity Insurance Policy (PI policy) in place.  The PI policy covers us and our representatives (including our authorised representatives) for claims made against us and our representatives by investors as a result of the conduct of us, our employees or representatives in the provision of financial services.

PRIVACY

Your right to privacy is important to us.  Each Prospectus explains your privacy rights and our rights and obligations in relation to your personal information.

You can obtain a copy of our privacy policy at www.custodianland.com.au or by contacting us on 1800 554 622.