Plans have resumed to introduce an independent football regulator under the new Government.

The Football Governance Bill was initially introduced to Parliament in March but was put on hold due to the General Election.

It has now been confirmed in the King’s Speech that the Bill will be re-introduced and EFL chair Rick Parry has welcomed the announcement.

Parry hopes it can move forward into legislation “as quickly as possible” and hopes to see clubs benefit from changes such as enhanced regulation and improved financial distributions.

An official statement on Wednesday read: “We very much welcome the commitment outlined in today’s King’s Speech that will see the re-introduction of the Football Governance Bill early in the new Parliament.

“We stand ready to work with the Government on any outstanding matters from the original Bill and then to move it forward into legislation as quickly as possible.

“We are encouraged by the new Prime Minister’s support and an independent regulator, alongside that of the many Parliamentarians – both new and old – across the political spectrum.

“It is clear from the many conversations I have gad since the General Election result that the football pyramid matters to those inside and outside the game.

“It is a unique strength of English football and once we are ready to collectively protect through the introduction of enhanced regulation, as well as improved financial distributions, so we can continue to serve the best interests of clubs, their supporters and the communities they live in for many years to come.”

In March, Wanderers issued a statement backing the introduction of an independent regulator in the hope of securing "the long-term financial sustainability of England’s football pyramid".

“As we continue to make significant progress with our fan engagement strategy, this Bill reflects our firm belief that supporters should be at the heart of decision-making," said chief executive Neil Hart.

“Bolton Wanderers will continue to support the EFL and Government officials in championing financial fairness, as well as the introduction of the Independent Football Regulator to ensure the long-term stability and success of our national game.”