What are the rules that prevent Tan converting debt to equity?

[Badly Ironed Shirt]

These are the rules: https://www.efl.com/-more/governance...y-regulations/

Section 5.3 explains how much equity can be put in each year I think but I’ve not read it all. Let us all know where it says he can pay off the debt in one go

Thanks for a serious response. These rules were for the 2016/17 season. What were the rules that prevented him from converting debt to equity when he made his announcement on Feb 2016?