Meaning of “Rafferty's rules” in the English Dictionary

british dictionary

"Rafferty's rules" in British English

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Rafferty's rulesnoun [ plural ]

uk /ˈræf.ə.tiz ˌruːlz/ us /ˈræf.ɚ.t̬iz ˌruːlz/ Australian informal

a situation in which there are no rules; used especially when referring to a competition, system, etc. that is not well organized:

It's hard to regulate financial systems, but that's not an argument for Rafferty's rules.

(Definition of “Rafferty's rules” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)