Once again the media is failing and the rules of Scottish Football, are being ignored. These are SPL articles…
6. A Share may only be issued, allotted, transferred to or held by a person who is the owner and operator of a Club and if a Member shall cease to be the owner and operator of a Club then such Member shall cease to be entitled to hold a Share.
(i) a Member shall cease to be entitled to hold a Share; or
(ii) a trustee in sequestration, manager, receiver or administrative receiver shall be appointed in respect of a Member or any property of a Member, or an administration order shall be made in respect of a Member or any property of a Member or an order shall be made or an effective resolution passed for the winding up of a Member otherwise than for the purpose of reconstruction or amalgamation;
then that Member or its manager, receiver, administrative receiver, administrator or liquidator or any other person entitled to the Share shall, on receiving notice in writing from the Board following the Company in General Meeting passing a Qualified Resolution that such notice should be issued by the Board and confirming the identity of the proposed transferee, transfer its Share to such other person as the Board shall direct at the price of £1 and the Club owned and operated by such Member shall forthwith cease to be a member of the League and the Club owned and operated by the transferee shall become a member of the League in its place.
RFC(IA) hold the SPL Share.
D&P claim to have sold the “club” to Sevco.
RFC(IA) have ceased to be the owner and operator of a Club, therefore they have ceased (under SPL Article 6) to be entitled to hold a Share.
Article 14 tells us that a Qualified Resolution is required to agree who gets RFC(IA)’s share.
A Qualified Resolution required a 21 day notice period for the General Meeting AND must be passed with a 90% majority.
1. Rangers don’t get to vote.
2. 10 from the 11 remaining clubs have to agree to the recipient of the RFC(IA) Share.
Please don’t let Doncaster away with ignoring the SPL Articles.
Don’t allow the 8-4 myth to become reality.
Remind everyone – Article 6 & Article 14 are written for the current situation.