APPENDIX 2 - Euroleague Basketball

h) Any type of economic operations amounting to 10% of the annual
budget.
i) Modification of the share capital or other statutory provisions.
Article 6. Inaccurate Information and Disciplinary Procedures
If the audited financial statements in Article 3.2 d) are not consistent with
the financial information previously submitted, ECA, upon proposal by the
Management Control Commission, may either revoke the decision to
register the club, decide the cancellation of the licence, or impose a
sanction pursuant to the Disciplinary Regulations of the Euroleague Bylaws,
depending on the gravity of the breach and the importance of the
differences between the financial information submitted and the audited
financial statements.
Article 7. Non-Fulfilment of Obligations
7.1. ECA has the right to cancel a licence, temporarily suspend it, and/or
reject the application for a licence at its own discretion for one of the
following reasons:
a) Not fulfilling the criteria stated in paragraphs a), b), c) and/or d)
from Article 2. Notwithstanding this, if a club does not meet the
criteria set forth in paragraphs a), b) and/or c) from Article 2,
ECA may request to the club that its financial position be
evaluated by an external auditing firm in order to establish if it is
possible for the club to follow an alternative plan for compliance
to overcome the insolvency situation within a reasonable
deadline. In this case, ECA may accept a provisional registration
of the club.
b) Not providing the documentation or not respecting the deadlines
established in Article 3.
c) Providing false or inaccurate statements or documents or omitting
to provide due information or documents.
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