At an Extraordinary General Meeting at Derby County's Pride Park Stadium, Football League clubs have approved a number of regulatory changes.
The new and amended regulations cover changes to financial reporting procedures; ground criteria; the Owners' and Directors' Test; the public disclosure of club ownership; third party interests in players; and players' contracts.
Commenting on the new regulations, Football League Chairman Greg Clarke said: "I am pleased that our clubs have today supported new and revised regulations that further strengthen the professionalism and good governance of The Football League.
"The season ahead is an important one for The League and its clubs as we seek to continue our recent growth.
"Centrally, we will be doing everything possible to support our clubs through a difficult economic environment and to encourage more and more fans to enjoy the fantastic product offered on the pitch by all 72 Football League clubs."
At today's EGM, clubs voted to introduce the following regulatory changes that stem from The League's Solidarity agreement with the Premier League:
1 Further enhancements to the Owner's and Director's Tests which will include:
- Creating an Annual Reporting process for all club directors
- Prior disclosure of new directors and a prohibition on persons taking up the role until clearance is received from The Football League.
- Introducing a restriction on anyone owning an interest in a club where they are prevented from entering the UK or are unable to have funds available in the UK for their own benefit.
2 Additional financial reporting requirements for Championship clubs including:
- The provision of 'future financial information' relating to the subsequent season.
- Clubs to demonstrate they have no overdue transfer fees, compensation fees, key employee wages or PAYE/NIC.
- Clubs in default or clubs with business plans that cast doubt on their ability to fulfil fixtures or pay football creditors will be required to submit to budget constraints including possibility of transfer embargo.
- The change of ownership of more than 30% of club will trigger fresh reporting requirements.
3 The requirement to publish the identity of any individuals owning 10% or more in any club.
4 The absolute prohibition of 'third party interests' in players.
5 A new standard player contract in line with that in use in the Premier League.
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