Member

This is particularly important when it comes to the financial soundness objective. On its own, “financial soundness” does not mean very much. Without an expanded definition—whether that is the one that my noble friend Lord Markham and I have put forward or one of the Government’s counterpropositions—I worry that the regulator could take that term to mean anything from limiting expenditure to asking clubs to release a quarterly financial statement. The Bill would be improved by more precision and greater clarity here.