So, does that mean to pass the fit and proper persons test, Bates needs to submit a declaration to say he is kosher?
Job done. And the points deduction issue - no mention of additional points deductions. It is an important point of law in contracts that in any provision for 'damages' - ie consequences of breaking part of the contract, that the damages are a fair and reasonable pre-assessment of the costs, and not 'penalty clauses'. That would explain the careful wording of the 10 point deduction clause. I fail to see how not completing a cva (and coming through via exceptional circumstances clause) is a competitive advantage. In actual fact in this case the creditors etc were getting more money outside the cva. Of course all this is based on the speculation LUFC would be getting another 15pt fine.. > -----Original Message----- > From: [EMAIL PROTECTED] [mailto:leedslist- > [EMAIL PROTECTED] On Behalf Of John Boocock > Sent: 03 August 2007 13:44 > To: LEEDS LIST > Subject: Re: [LU] The rumour mill > > > > Mark Humphries wrote: > > Good point. > > > > Does this rule mean that any potential new owners of a club are > vetted > > before they are allowed to be owners? At what stage in the > procurement > > process? > > > that fit and proper persons rule in full: > ============================== > > from the 2003/4 annual report of the FL: > > Fit & Proper Persons > > The Football League has introduced the first Fit and > Proper Personsí test for Club Directors in the history of > professional football. > > The new rules make it a breach of Football League > regulations for the following to be a director or hold a > majority interest in a Football League club: > > * Anyone subject to a ban from a Sports Governing > Body relating to the administration of that sport. > ïAnyone with an unspent conviction relating to fraud > or dishonesty. > > * Anyone that is disqualified from acting as a director > of a UK registered company. > > * Anyone currently subject to a Bankruptcy Order. > > * Anyone who has been a Director of a club that has > been in administration twice during a five-year > period or a Director of two different clubs that have > each gone into administration in a five-year period. > > All current League club directors provided The League > with a declaration before the season started that they > met the necessary criteria. New Directors will have to > sign a similar declaration on appointment. > > and the good governance thing that happened at the same time: > =================================================== > > These widely acclaimed measures have been introduced > to counter the mounting financial pressures facing > League clubs. At the heart of each reform is the > aspiration to establish better standards of governance in > the game and to stabilise the financial outlook, so that > football supporters can be confident of the sustainability > of their club and that it is well run. > > Each of these reforms is a first in domestic football > and probably World football too. All were introduced with > the full consent of League clubs and were voted through > in accordance with the Leagueís rules and regulations. > During the last twelve months The Football League has > introduced the following reforms: > > Clubs in Administration > ======================= > > The Football League has pioneered the use of Sporting > Sanctions for insolvent football clubs. > > In future any League club that goes into administration > will be deducted ten points from its League points tally. > Clubs will also be limited to a maximum period of 18 > months in administration. > > This sanction is designed to have a deterrent effect > and to make Directors more accountable to supporters > for the way they have run their clubs. In time, this should > foster a more sustainable approach to managing football > clubs and, hopefully, reduce the number of clubs > needing to go into administration. > > The ten-point deduction itself is not intended as a > punishment but rather as an attempt to balance the > competitive advantage clubs receive by ridding > themselves of debt. > > > _______________________________________________ > the Leeds List is an unmoderated mailing list and the list > administrators accept no liability for the personal views and opinions > of contributors. > Leedslist mailing list > [email protected] > http://list.zetnet.co.uk/mailman/listinfo/leedslist > Join The Leeds United Supporters Trust at www.lufctrust.org _______________________________________________ the Leeds List is an unmoderated mailing list and the list administrators accept no liability for the personal views and opinions of contributors. Leedslist mailing list [email protected] http://list.zetnet.co.uk/mailman/listinfo/leedslist Join The Leeds United Supporters Trust at www.lufctrust.org
