PREMIER LEAGUE

SECTION E: CLUBS – FINANCE
E.23.5. the Football League; or
E.23.6. any Associated Undertaking, Fellow Subsidiary Undertaking, Group
Undertaking, or Subsidiary Undertaking of the Football League; or
E.23.7. the Football Foundation.
E.24. If any Transferee Club act in breach of Rules V.29 or V.32 to V.36 inclusive:
E.24.1. Rule V.37 shall apply; and
E.24.2. out of any monies held by the Board for or on behalf of or to the order of
that Transferee Club (whether in the Compensation Fee Account or
otherwise), the Board shall have power to pay to its Transferor Club any
amount not exceeding the sum due to it from the Transferee Club under
the provisions of this Section of these Rules.
M.37.2
Events of Insolvency Old Rule
E.25. Subject to Rule E.33, the Board shall have power to suspend a Club by giving to it
notice in writing to that effect if it or its Parent Undertaking suffers an Event of
Insolvency, that is to say:
E.25.1. it enters into a Company Voluntary Arrangement pursuant to Part 1 of the
Insolvency Act 1986 (‘the 1986 Act”) or a compromise or arrangement with
its creditors under Part 26 of the Act or enters into any compromise
agreement with its creditors as a whole; or
E.25.2. it or its shareholders or directors lodge a Notice of Intention to Appoint an
Administrator or Notice of Appointment of an Administrator at the Court
in accordance with paragraph 26 or paragraph 29 of Schedule B1 to the
1986 Act or where it or its shareholders or directors make an application to
the Court for an Administration Order under paragraph 12 of Schedule B1 to
the 1986 Act or where an Administrator is appointed or an Administration
Order is made in respect of it (‘Administrator” and ‘Administration Order”
having the meanings attributed to them respectively by paragraphs 1 and
10 of Schedule B1 to the 1986 Act); or
E.25.3. an Administrative Receiver (as defined by section 251 of the 1986 Act), a
Law of Property Act Receiver (appointed under section 109 of the Law of
Property Act 1925) or any Receiver appointed by the Court under the
Supreme Court Act 1981 or any other Receiver is appointed over any of its
assets which, in the opinion of the Board, are material to the Club’s ability
to fulfil its obligations as a member of the League; or
E.25.4. its shareholders pass a resolution pursuant to section 84(1) of the 1986
Act to voluntarily wind it up; or
E.25.5. a meeting of its creditors is convened pursuant to section 95 or section 98
of the 1986 Act; or
E.25.6. a winding up order is made against it by the Court under section 122 of the
1986 Act or a provisional liquidator is appointed over it under section 135 of
the 1986 Act; or
C.57
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PREMIER LEAGUE RULES: SECTION E