THE FOOTBALL ASSOCIATION. Regulations as to the formation of Companies. Shareholders’ Season Tickets. Regulations adopted by the Council, 8th July, 1921. In consequence of further information supplied to The Football Association by Clubs particularly elected by the Regulation as to Shareholders’ Season Tickets adopted by the Council on 30th May, 1921, the Rules Revision Sub-Committee met the Representatives of The Football League in Conference on Monday, 4th July, 1921. The Regulation was framed and adopted with the intention of stopping the traffic in shares for purposes which could not be commended or approved by the Council and to put an end to the in- creasing abuse of shareholders dictating privileges for themselves which had not been declared on the formation of the Company or sanctioned by The Football Association. The Members of the Conference were satisfied that the Regulation would act prejudicially to Clubs that had faithfully carried out the original obligations without extension or variation and to obviate any injustice to such Clubs, recommend the following Regulation for adoption in substitution of the Regulation referred to:- "Privileges hitherto granted by Clubs to Shareholders registered as such before the 1st day of May, 1921, may be continued (but not extended) to such Shareholders. A Shareholder registered on or subsequent to such date may have issued to him a Season Ticket or Tickets subject to a deduction of 5% from the amount charged to non-shareholders. Tickets so issued must not be sold. The privileges granted under this Regulation shall be restricted to such holder and in case of death to such member of his family as shall become the registered holder of the shares. The privilege cannot be sold or granted to any other transferee.” 42, RUSSELL SQUARE, LONDON, W. C. 1.