Dissolution Clause - no members

Dissolution Clause - no members

(1)  The trustees may dissolve the charity if they decide that it is necessary or desirable to do so. To be effective, a proposal to dissolve the charity must be passed at a special meeting by a two-thirds’ majority of the trustees. Any assets of the charity that are left after the charity’s debts have been paid (‘the net assets’) must be given:

(a)  to another charity (or other charities) with objects that are the same or similar to the charity’s own, for the general purposes of the recipient charity (or charities); or

(b) to any charity for use for particular purposes which fall within the charity’s objects.

 (2)  The Commission must be notified promptly that the charity has been dissolved and, if the trustees were obliged to send the charity’s accounts to the Commission for the accounting period which ended before its dissolution, they must send the Commission the charity’s final accounts.