39.1 The Competition has the right not to make any Payments from central funding to Clubs who are subject to an Insolvency Event.

39.2 Clubs shall irrevocably waive their right to receive monies and also waive their right to receive such monies when at any time funds are due from them to Football Creditors within or without The Competition and further irrevocably authorise and appoint the Competition as their attorney to pay any monies which would otherwise be due to their Football Creditors to such Football Creditors on their behalf if deemed appropriate by the Board. Any Club responsible for such payment arising shall pay a fee in accordance with the Standard Fees Tariff.

39.3 Members of the Competition hereby irrevocably authorise the Board that in the event of each or any of them taking steps which would comprise an Insolvency Event to withhold any payment that might otherwise be due and permanently waive their right to receive the same subject only to the Board’s discretionary right to pay such monies to their Football Creditors as referred to in 39.2 above or 39.4 below.

39.4 Whether there is any withholding pursuant to Rule 39.1 or not the member further irrevocably appoints the Company as its attorney to pay and discharge out of any monies that would otherwise be due to it pursuant to its membership of the Company and/or the Competition any sums that may be due to other members of the Company or any other Football Creditor as defined within the Rules of the Competition.

39.5 In the event of any such payments being made as set out in Rule 39.2 and 39.4 the Board shall be obliged to advise the relevant members in writing of the payments it has made on its behalf within 28 days of such payments.