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World Rugby Handbook

REGULATION 14 participate in more than 50% of any dividend declared (in the relevant class if applicable) or to more than 50% of the company’s assets on a winding up. 14.5 This Regulation 14 shall be interpreted broadly to give effect to the underlying intention that no Entity or group of Entities, acting alone or in concert, shall control, or be in a position to control, either directly or indirectly, more than one Club. 14.6 Subject to obtaining the consent of the Union concerned or World Rugby, as provided for in Regulation 14.1, this Regulation 14 shall not prohibit the temporary ownership of more than one Club which arises out of the bona fide merger of two or more Clubs, provided that the ownership of more than one Club does not extend beyond three months. Last update: 14 January, 2015 226


World Rugby Handbook
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