Part 4

Owners and officers of regulated clubs: suitability etc

Persons who become owners or officers of regulated clubs

Determination of suitability required for new owner
28
1
A person may not become an owner of a particular regulated club unless, on an application by the person to the IFR, the IFR determines that the person is suitable to be an owner of the club (an “affirmative determination”).
2
An application under subsection (1) must be made in accordance with rules made by the IFR, which—
a
must require information about the following matters to be provided with an application—
i
the proposed operation of the club;
ii
the estimated costs of that operation;
iii
how those costs are to be funded;
iv
the source of such funding;
b
may require information about other matters specified in the rules to be provided with an application;
c
may make provision about the manner and form in which an application is to be made.
3
Where an application is duly made under subsection (1) by a registered society, the IFR must make an affirmative determination in respect of the applicant if the IFR considers that the applicant has sufficient financial resources.
4
Where an application is duly made under subsection (1) by an individual, the IFR must make an affirmative determination in respect of the applicant if—
a
the IFR considers that the applicant—
i
meets the individual ownership fitness criteria, and
ii
has sufficient financial resources, and
b
the IFR does not have grounds to suspect that the applicant has any source of wealth which is connected to serious criminal conduct.
5
Subsections (3) and (4) are subject to subsection (6)(b).
6
The IFR—
a
may not make an affirmative determination in respect of the applicant except as mentioned in subsections (3) and (4);
b
must not make an affirmative determination in respect of the applicant if an order under section 38(1) (disqualification from ownership) has effect in relation to the applicant.
7
If the IFR is not able to make an affirmative determination in respect of the applicant, it must determine that the applicant is not suitable to be an owner of the club.
8
Where the IFR makes an affirmative determination in relation to a person, the determination has effect until—
a
the person ceases to be an owner of the club, or
b
if earlier, the IFR gives the person a notice under section 34(10)(b) in relation to the person’s suitability to be an owner of the club.
9
Where the IFR makes a determination under this section, the IFR must—
a
give notice of the determination to the applicant and to the club, and
b
publish the determination.
S. 28 in force at Royal Assent for specified purposes, see s. 100(2)(g)