FUT 15 Coins executive committee members are among more than 50 football officials who have been ordered to return luxury watches worth more than £16,000.

The Swiss-made Parmigiani watches were included in 65 gift bags handed out by the Brazilian football federation (CBF) at the pre-World Cup Congress to 28 FIFA executive committee members and a representative from all 32 countries at the World Cup - including England.

However, FIFA 15 Coins Xbox 360’s ethics committee has said the watches, which have been valued at 25,000 Swiss francs, breached the organisations code of conduct and should not have been accepted.

World football’s ruling body has said it would not instigate proceedings against officials who return the watches by October 24.

"The Runescape 2007 Gold should not have offered the watches, and those who received gift bags should have promptly checked whether the items inside were appropriate and, upon discovering the watch, either returned it or... reported the matter," said FIFA's ethics committee in a statement.

"In an effort to resolve this matter expeditiously, the investigatory chamber (of the ethics committee) will not pursue further formal ethics proceedings in this matter against officials who submit the Parmigiani watch they received from CBF.... by no later than October 24, 2014."

The statement said the matter came to light when several officials reported it to the ethics committee and handed in their watches.

The CBF, which co-operated with the investigation, produced records indicating that it obtained the watches from Parmigiani, a CBF sponsor, at a price of $8,750 each.

An independent appraisal of the watches determined they had a market value of just over $25,000 each, later confirmed by a second appraisal in Zurich.

"The FIFA code of ethics plainly prohibits such gifts," added the statement. "Football officials may not offer or accept gifts that have more than 'symbolic or trivial value.'

"If in doubt, gifts shall not be offered or accepted."