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During debt negotiations with RBS last year, Haymarket put up £40m-worth of property as security.
Mr. Furse used the property as security to finance a couple of business deals that foundered — mostly, he says, because of betrayals by partners.
The amendments, which took effect on July 1, rewrite the portion of the code that governs the pledging of personal property as security for a loan.
Mr. O'Connor said that every time a lender makes a loan backed by a pledge of property as security, the lender needs some assurance that the value of the property is sufficient to cover the unpaid balance of the loan.
"As a minimum, the board must provide the club property as security against the season-ticket money," added King.
Birmingham City owner Carson Yeung is to pledge personal property as security to bring fresh income to the club.
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But pawnbrokers continue to operate on a minor scale, and banks keep documents of title (such as property deeds) as security.
In the past few years, small groups of settlers have pursued a campaign they call "price tag," attacking Palestinian civilians and property as well as Israeli security forces in retaliation for government policies they oppose.
In recent years, small groups of radical settlers have pursued a policy known as "price tag," attacking Palestinian civilians and vandalizing property as well as distracting Israeli security forces and damaging military equipment.
Sports Direct secured this business after a deal that also saw Ashley lend the football club £5m but claim its Ibrox stadium and intellectual property, such as the club badge, as security.
It was claimed Rangers' chief executive Graham Wallace raised the prospect of the board offering legally binding guarantees not to use the property assets as security for loans or to sell them, but talks subsequently broke down.
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