Quote:
Originally Posted by Rhosymedre Red
Chester Takeover
In light of the proposed takeover of Chester FC we have been asked to clarify the process if such an offer was received at Wrexham.
The answer is quite straightforward. A bid for the club could not be accepted under our current rules. Primarily
4.2 upholding the mutual ownership of the Club operating democratically, fairly and transparently.
To accept a bid for the club this rule would need to be overturned by special resolution. A Special Resolution requires a majority of 75% of members and at least 50% of members voting (Rules 51 and 100).
Following this there would need to be a further resolution to wind up the Society and distribute its assets to charitable causes in the local community (rule 105). All of the above would be a decision of the membership of the Society.
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I persume this is a requirement due to the acceptance by HMRC of the arrangements agreed at the time the Trust took over the club?
I know when our local bowls club I am a member of , became a community club (or Cask ) this is the scenario should it ever stop trading or be disposed off - that the assets go to other sports clubs in the immediate area
There was a trade off with the rates paid in exchange!
Forgive me if I misread it
