Here are the rules as they are written
VETERANS LIST
13.1
(a) An AFL Club may nominate for each AFL Season up to two eligible Players to be transferred from its Primary List to the Veterans List and/or any number of eligible Players to be classified as a veteran on its Primary List, provided the transfer or classification occurs no later than two weeks after the Pre-Season Draft prior to the relevant AFL Season.
(b) An AFL Club which classifies a Player on its Primary List as a veteran, may, at a later stage, but no later than two weeks after the Pre-Season Draft prior to the relevant AFL Season, transfer the Player to the AFL Club’s Veterans List.
(c) A Player who is transferred to the AFL Club’s Veterans List can only be
transferred back to the Primary List of the AFL Club between the end of an
AFL Season and two weeks after the Pre-Season Draft prior to the next AFL Season and provided that Player remains classified as a veteran on the Primary List.
(d) A Player that is classified as a veteran on the Primary List must remain
classified as a Veteran until that Player leaves the Club or is transferred to
the Veterans List.
13.2
A Player is eligible for inclusion on an AFL Club’s Veterans List or to be classified as a veteran, on the Primary List if:
(a) the Player has been at the AFL Club on the Primary List for at least ten (10) years
(b) the Player is 30 years of age or older as at 30 September in the relevant AFL Season, provided that in the case of Fremantle and Port Adelaide, a Player will be eligible
• if he is 30 years of age or older as at 30 September in the relevant AFL Season; and
• has been on the AFL Club’s Primary List since inception of the AFL Club
into the AFL Competition.
Once an AFL Club to which these exceptions apply has been in the AFL
Competition for 10 years, the exception will cease to apply to that AFL Club and thereafter the provisions of sub-clauses 13.2(a) and (b) will apply.
13.3
For Total Player Payment purposes, a proportion (as set out in the following table) of Football Payments to each Veteran shall be excluded from Total Player Payments, such proportion to vary depending on the number of Veterans at each Club:
Number of Veterans Percentage of Football Payments
Excluded from TPP
1 50
2 50
3 33.1/3
4 25
5 20
Any number greater than 5 is 100 ÷ number of Veterans
Then there is also this
PLAYER LISTS
14.1
Each AFL Club shall maintain minimum and maximum numbers of Players on their Lists. During the term, the maximum Primary List size shall be 38 and Veterans List size shall be 2.
14.2
The minimum number of Players on the Club’s Primary List and Veterans List combined shall be 38, save for 2004, where the minimum shall be 37.
14.3
The number of Players referred to in clause 14.1 and 14.2 shall be Players included on the AFL Club’s Primary List and Veterans List and shall be in addition to the allowable number of Rookies including eligible Rookies as defined in the Rules. The maximum number of Rookies and Players on the Primary List shall be in accordance with Schedule C.
14.4
There shall be a limit of two Players that may be placed on a Club’s Veterans List with no limit on the number of Players that may be classified as veterans on the AFL Club’s Primary List.
14.5
An AFL Club is eligible to nominate a Rookie Player as being eligible for senior selection if it has 38 Players on its Primary List not including Veterans at the conclusion of the Pre-Season Draft and it otherwise satisfies the requirements of this clause 14.
14.6
An AFL Club which is eligible to nominate a Rookie Player pursuant to clause 14.5 may:
(a) where the AFL Club has nominated one Player on its Veterans List,
nominate one Player from its Rookie List as being available for selection by that AFL Club for AFL Premiership Season Matches and AFL Finals Series Matches; and
(b) where the AFL Club has not nominated a Player on its Veterans List, nominate up to two Players from its Rookie List as being available for
selection by the AFL Club for AFL Premiership Season Matches and AFL
Finals Series Matches.
14.7
The right of an AFL Club to nominate a Rookie Player under clause 14.6 is subject to the AFL Club demonstrating to the satisfaction of the investigations Manager that it can accommodate within its Total Player Payments the Football Payments which must be paid to the Rookie Player as prescribed by paragraph 4 of Schedule B.
14.8
One half of the Football Payments in respect of a Rookie Player nominated under this clause 14 shall be excluded from the relevant AFL Club’s Total Player Payments.
If you look at the highlighted bits it might help you with our current situation. Basically it boils down to us being able to have a rookie listed player, able to play at any stage during the season, with us only having to place half of their payment under the Salary Cap. Placing Banners on the Veteran List outside the Senior List means we lose this option.
Hope it helps.