85.1 Except with the prior written consent of the Board no Club may, either directly or indirectly:
85.1.1 hold or deal in (or make any application to hold or deal in or underwrite any issue of) the securities or shares of another football club; or
85.1.3 be involved in any capacity whatsoever in the management or administration of another football club; or
85.1.4 have any power whatsoever to influence the financial, commercial or business affairs or the management or administration of another football club; or
85.1.5 lend or gift money to or guarantee the debts or obligations of that football club.
85.2 Except with the prior written consent of the Board no Club shall allow or permit any football club, either directly or indirectly:
85.2.1 to hold or deal in (or make any applications to hold or deal in or underwrite any issue of) the securities or shares of that Club: or
85.2.3 to be involved in any capacity whatsoever in the management or administration of that Club; or
85.2.4 to have any power whatsoever to influence the financial, commercial or business affairs or the management or administration of that Club; or
85.2.5 to lend or gift money to or guarantee the debts or obligations of that Club.
(g) Any League from time to time operated under the auspices of The Scottish Football League, Scottish Premier League or Irish Football League;
and any league which may from time to time replace any of the above mentioned leagues or conferences, or be formed in relation to the playing of Association Football at a level equivalent to that played in any of the aforementioned leagues.
86 Interests in More Than One Football Club
86.1 Except with the prior written consent of the Board a person, or any associate of that person, who is interested in a Club cannot at the same time be interested in any other football club.
86.2 A person shall be deemed to be interested in a football club if he, whether directly or indirectly:
86.2.1 holds or deals in (or has made any application to hold or deal in or underwrite any issue of) the securities or shares of that football club: or
86.2.2 is a member of that football club; or
86.2.3 is involved in any capacity whatsoever in the management or administration of that football club; or
86.2.4 has any power whatsoever to influence the financial, commercial or business affairs or the management or administration of that football club; or
86.2.5 has lent or gifted money to or guaranteed the debts or obligations of that football club, otherwise than in the ordinary course of banking.
86.3 In any case where the person interested in a football club is an individual any of the following shall for the purposes of this Regulation 86 be deemed to be an 'associate' of that person:
86.3.1 a close relative of that person; or
86.3.2 anyone else of a close relationship with that person who, in the opinion of the Executive is or is likely to be acting with or who is financially dependent upon, that person; or
86.3.3 any company:
(a) of which that person (or any individual who is an associate of that person) is a director; or
(b) in which that person (or any individual who is an associate of that person) either directly or indirectly holds shares; or
(c) over which that person (or any individual who is an associate of that person) is able to exercise any influence or control; or
86.3.4 any person who is a shareholder, director or employee of any company referred to in Regulation 86.3.3 or any close relative of any such person; or
86.3.5 any company which is a Group Undertaking, Parent Undertaking or Subsidiary Undertaking of any company referred to in Regulation 86.3.3; or
86.3.6 any person who is a shareholder, director or employee of any company referred to in Regulation 86.3.3 or any close relative of any such shareholder, director or employee; or
86.3.7 any person who is an employee or partner of that person or any close relative of any such employee or partner; or
86.3.8 where any person who is interested in a football club has an agreement or arrangement (whether legally binding or not) with any other person in relation to the exercise of their voting power in a football club or the holding or disposal of their interests in a football club, that other person.
86.4 In any case where the person interested in a football club is a company any of the following shall for the purposes of this Regulation 86 be deemed to be an 'associate' of that person:
86.4.1 any person who is a director, shareholder or employee of that person or any close relative of any such director, shareholder or employee; or
86.4.2 any person who is able to influence the financial, commercial or business affairs or the management or administration of that person or any close relative of any such person; or
86.4.3 any company which is a Group Undertaking, Parent Undertaking or Subsidiary Undertaking of that person; or
86.4.4 any shareholder, director or employee of any company referred to in Regulation
86.4.3 or any close relative of any such director, shareholder or employee; or
86.4.5 any person who is able to influence the financial, commercial or business affairs or the management or administration of any company referred to in Regulation 86.4.3 or any close relative of any such person; or
86.4.6 where any person who is interested in a football club has an agreement or arrangement (whether legally binding or not) with any other person in relation to the exercise of their voting power in a football club or the holding or disposal of their interest in a football club, that other person.
86.5 The holding of not more than 10 per cent of the share capital of any football club shall be disregarded for the purposes of this Regulation 86 provided that those shares are, in the opinion of the Board, held purely for investment purposes only.
86.6 It shall be the responsibility of each Club that, when allowing any person to:
86.6.1 hold or deal in (or make any application to hold or deal in or underwrite any issue of) the securities or shares of that football club; or
86.6.2 become a member of that football club; or
86.6.3 become involved in any capacity whatsoever in the management or administration of that football club; or
86.6.4 have any power whatsoever to influence the financial, commercial or business affairs or the management or administration of that football club; or
86.6.5 lend or gift money to or guarantee the debts or obligations of that football club, otherwise than in the ordinary course of banking,
to ensure that in doing so that person shall not be acting in such a manner as to cause a breach of any Regulation and in particular Regulations 85 to 89, and failure to do so shall constitute misconduct.
86.7 Without prejudice to the generality of Regulation 86.6, each Club shall, when considering any application by any person to undertake any of the acts specified in Regulation 86.6.1 to 86.6.5, make all such reasonable enquiries of that person, in respect of both that person and also their associates and close relatives (as defined above), regarding any possible dual interests which may arise. Where such enquiries reveal the existence of a possible breach, the Club shall forthwith apply for the prior written consent of the Board before proceeding.
86.8 Any Club shall, upon receipt of a written request by The League (acting by its Executive), provide to The League evidence that such enquiries have been conducted. Failure to comply with this Regulation 86.8 shall constitute misconduct.
87 Interests in Clubs - Trusts and Nominees
87.1 Any act or thing prohibited in Regulations 85 and/or 86 in relation to a Club or a person, firm or company if done by such Club, person, firm or company in person is likewise prohibited through agents, trusts, trustees, nominees or other third parties.
88 Register of Interests
88.1 In addition and without prejudice to the provisions of Regulation 90, the Secretary shall maintain at the Office or such other place as the Board shall from time to time determine a register of such interests as the Board may from time to time determine, including interests held:
88.1.1 by Clubs;
88.1.2 in Clubs;
88.1.3 by persons interested in a Club within the meaning of Regulation 86;
88.1.4 by associates of any such person, within the meaning of Regulation 86; and
88.1.5 by any person specified in Regulation 87.
88.2 In addition and without prejudice to the provisions of Regulation 92, if the Board shall instruct the Secretary to keep a register of interests pursuant to Regulation 88.1, the Secretary shall be entitled, by notice in writing, to require every Club to give written notice to the Secretary of all:
88.2.1 interests held by it in any football club within the meaning of Regulation 85;
88.2.2 interests held by any football club in that Club within the meaning of Regulation 85;
88.2.3 persons interested in the Club and any associates of such persons, each within the meaning aforesaid; and/or
88.2.4 interests held by any person within the meaning of Regulation 87.
88.3 Full details as required pursuant to Regulation 88.2 shall be notified to the Secretary within three months of the date of his service of notice requiring such information. Thereafter, each Club shall give written notice of any change in the notifiable particulars pursuant to this paragraph within 7 days of such change. In all such cases the Club shall only be required to disclose notifiable particulars of which the Club is aware but the Club shall use its best endeavours to investigate any relevant circumstances where there are reasonable grounds to believe that notifiable particulars exist. No Club shall be excused from its obligations under this Regulation 88.2 because of any undertaking of confidentiality to any third party and each Club shall ensure that any undertaking of confidentiality is so qualified.
89 Prohibition of Nursery Clubs
89.1 No Club may be a 'nursery' club of another football club and no Club may have another football club as its 'nursery' club. A football club shall be deemed to be a 'nursery' club if it is under obligation, written or otherwise, to another football club by reason of which it has not the sole and entire control of its own management, finances and Players.
90 Board's Power to Require Information
90.1 The Executive may by notice in writing require any Club, Official or Player whom it knows or has reasonable cause to believe is or has at any time in the period of three years immediately preceding the date on which the notice was issued been in breach of the foregoing Regulations 85 to 88 inclusive:
90.1.1 to confirm that fact or (as the case may be) to indicate whether or not it is the case; and
90.1.2 where such person is or has been in breach as aforesaid, to give such further information to the Executive as the Executive may require.
90.2 Without prejudice to the provisions of Regulation 90.1 the Executive may at any time by notice in writing require any Club to supply to the Executive, within such period as the Board shall reasonably specify, but in any event within 28 days of the date on which the notice was issued, a written list of all members, shareholders, debenture holders and directors of the Club at the date the notice was issued and in the period of the three years immediately preceding the date on which the notice was issued. Such list shall specify such beneficial interests in any such interests as aforesaid of which it is aware.
91 Consent of The Board
91.1 In considering whether or not to give its consent to any matter referred to in Regulations 85, 86 or 87 the Board shall have regard to the need to promote and safeguard the interests and public profile of Association Football, its Players, spectators and others concerned with the game, and shall have regard also to the objects of The League as set out in its Memorandum of Association.
92 Powers of The Board in Event of Default
92.1 The Board shall be empowered, upon learning, whether pursuant to Regulations 88, 90 or 94 or otherwise, of any breach of Regulations 74 and 85 to 88 inclusive to require the Club and/or person in question to take such action as is necessary to rectify the breach forthwith or within such period as the Board shall determine.
92.2 Any breach of any of the foregoing Regulations 85 to 88 inclusive, including without limitation knowingly rendering incorrect or incomplete information pursuant to Regulations 88 and 90, shall constitute misconduct. Without prejudice to the range of other sanctions that may be imposed in respect of such breach, any Club in breach of any of the aforesaid Regulations may with the sanction of a special resolution passed at an Annual or Extraordinary General Meeting of The League, be expelled from The League. There shall be no right of appeal against such expulsion.
93 Relaxation and Disapplication of Regulations Regarding Interests
93.1 The Board shall have power at any time and from time to time to relax or disapply the provisions of Regulations 85 to 92 inclusive, whether absolutely or conditionally, whether in whole or in part and whether generally or as regards its application to one or more Clubs or persons.
94 Publication of Ownership
94.1 Each Club shall publish the identities of the ultimate owner (Person, not Entity) of each Significant Interest in the Club (as that term is defined Rule 1.1 of Appendix 4). That information shall as a minimum be published on the Club's official website on a page accessible directly from the home page of that official club website.
95 Club Contracts
95.1 No Club shall enter into a contract which enables any other party to that contract to acquire the ability materially to influence its policies or the performance of its teams in League Matches or matches in any other recognised competition.
SECTION: | 1 2 3 4 5 6 7 8 9 | A1 A2 A3 A4 A5 | Next
Section 4 - Clubs
