PREMIER LEAGUE

Excess Shares
12.1 In the event that the maximum number of Association Football clubs entitled to be members
of the League in accordance with the Articles or the Rules is less than the number of Ordinary
Shares then in issue then, unless the excess of such Ordinary Shares shall be purchased by the
Company or otherwise redeemed in accordance with the provisions of the Act, such excess
Ordinary Shares shall be transferred to and be registered in the name of the Secretary and,
whilst so registered, such Ordinary Shares shall carry no voting, dividend or other rights,
including on any winding up of the Company.
12.2 On any change of the Secretary, any Ordinary Shares so registered in the name of the
Secretary shall forthwith be transferred into the name of the person holding such office
following such change and in the event that such shares shall not be so transferred within
fourteen days of the change of the Secretary, the Board may authorise either the Director to
execute a transfer of such shares in favour of the Secretary for the time being of the Company
and a transfer so executed shall be as valid and effective as if the same had been executed by
the holder of such shares and the transferee Secretary shall be entered in the register as the
holder of such Ordinary Shares accordingly.
Alteration of Share Capital
13. The Company may by Resolution cancel Ordinary Shares which, at the date of the passing of
the Resolution, have not been issued and allotted or agreed to be issued and allotted to any
Association Football club entitled thereto and diminish the amount of its share capital by the
amount of the shares so cancelled.
14. Subject to the provisions of the Act, the Company may by special resolution reduce its share
capital, any capital redemption reserve and any share premium account.
Purchase of Own Shares
15. Subject to the provisions of the Act, the Company may purchase its own shares (including any
redeemable shares) and make a payment in respect of the redemption or purchase of its own
shares otherwise than out of distributable profits of the Company or the proceeds of a fresh
issue of shares.
Rules
16.1 The Company may by Resolution make and adopt and from time to time amend the Rules for
the purpose of regulating all matters affecting the organisation and management of the
League to the extent not provided for in, and so far as the same do not conflict with, the
provisions of the Articles.
16.2 Unless otherwise stated in the Articles or the Rules, the provisions of the Articles shall prevail
in the event of any conflict with any of the provisions of the Rules.
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ARTICLES OF ASSOCIATION