Clubs have been docked points at the start of the season for being in administration - and Luton are still on minus seven at the bottom of Coca-Cola League Two.

"Is it ideal? No, it is not ideal," said Mawhinney. "Would I like to dream up a scheme where we didn't have to go down the route of points deduction?

"I personally, just me, would like to find a different way. We have some thoughts on how we might do that and that could be part of the continuing agenda."

Mawhinney admits financial punishments do not make sense for clubs in administration, limiting sanctions that the league could impose.

"We've had some difficulty with some of our clubs frequently living beyond their means because they weren't paying HMRC," he said. "There are only two options, money or points - and there is no point in punishing clubs in financial administration with money.

"One of the most important part of the board's job is to protect the integrity of the competition so we had to send a message that they could not get an unfair advantage."

Mawhinney, speaking at the All Party Parliamentary Football Group Inquiry into the Governance of English Football, also responded to Bolton chairman Phil Gartside call for a restructuring of the Premier League that would see two leagues of 18 teams with the possible abolition of relegation.

"I don't agree with his idea," said Mawhinney. "Promotion and relegation is sacrosanct."