Macquarie Bank?

Assignments of Central Funds

D.29. If a Club or a Relegated Club proposes to charge, assign or otherwise grant security over all or part of its entitlement to future distributions of Central Funds, it shall:

D.29.1. disclose to the League the proposed documentation with the lender giving effect to such charge, assignment or other grant of security;

D.29.2. not enter into the said proposed documentation without the prior written consent of the League (not to be unreasonably withheld); and

D.29.3. procure that it and its lender enter into an agreement with the League whereby the lender will confirm that:

D.29.3.1. it understands that the Club’s entitlement to future distributions of Central Funds is subject to the provisions of the Articles and these Rules and in particular (without prejudice to the generality of the foregoing) to Rules E.19, E.28 and E.22;

D.29.3.2. it waives any and all claims of whatever nature against the League associated in any way with the League’s application and/or enforcement of the Rules referred to at Rule D.29.3.1; and

D.29.3.3. the Club has disclosed to it the Club’s current and future liabilities to other Clubs (and clubs) and the League will confirm that such disclosure accords with its records of such liabilities.

D.30. Rule D.29 shall not apply to any assignment, charge or other grant of security by a Club of its future entitlement to Central Funds as part of a fixed and floating charge over the entirety of its assets and undertaking on usual commercial terms.

D.31. Without the express, prior consent of the Board, no Club or Relegated Club may charge, assign or otherwise grant security over its entitlement to Central Funds in
accordance with Rule D.29 to any Person other than a Financial Institution.

D.32. Without prejudice to Rule D.31, above, the Board may still refuse to permit any proposed charge, assignment or grant of security under Rule D.29 by a Club or Relegated Club to a Financial Institution, where the ownership or structure of that Financial Institution conflicts with any of these Rules.

Yes, but part of the balance year on year?