The significant investment will enable the Aberdeenshire group to complete a community asset transfer and create an exciting new wheeled sport hub. The hub will have three main activity spaces; a closed loop cycle circuit, a beginner pump track and a more advanced community pump track located within Gordon Park in Ellon.

The plans for the project have been drawn up following consultation with the local community and will provide opportunities for mountain bikers, road riders and BMXers at all levels to take part and hone their skills.

The facility will be a huge benefit to the local area providing a free to use, open and inclusive sports facility.

Colin Allanach, Group Chair of Ellon Wheel Park Group welcomed the funding saying:

"This is a huge step forward for the project and will allow us to get the first phase of the exciting new facility constructed for the people of Ellon and surrounding area. I am so pleased for our supporters and the hardworking team behind the project.

This investment from sportscotland and Scottish Cycling, on top of other funding from the Place Base Investment Programme fund, the Rural Community Led Vision Challenge fund, EB Scotland (landfill), local development obligations, other grants, a crowd funding campaign and support from lots of individuals, businesses and other organisations has raised in excess of an incredible 750,000 for the wheel park.

This facility will provide a unique experience for wheel sports users of all abilities where they can play, have fun, learn and develop new skills. The wheel park combines a pump track, a cycle circuit and a skatepark in one area. The park will have a beginners area and will also be used to help people learn to ride and gain confidence on bikes before they go out to ride on the open road. The cycle circuit has been specifically designed with the help of wheelchair athletes and for the trishaws used by Cycling Without Age. This makes the park truly accessible for all

The national Cycling Facilities Fund was established to build on the growing interest in cycling and deliver a tangible benefit as part of the wider policy objectives driving the 2023 UCI Cycling World Championships.

Chief Executive of Scottish Cycling,Nick Rennie added:

Its fantastic to see yet another facility a step closer to realising its ambition, which in turn supports our goals of having the right facilities, in the right places, so more people can enjoy riding a bike.

I know a lot of work has gone on up in Aberdeenshire to get the project to where it is, so thank you to Colin and his team I cant wait to see it in action in the coming months and hopefully riding on it myself in the not too distant future!

In the first event of its kind, over 8000 amateur and elite cyclists and para-cyclists will come together in Glasgow and across Scotland in August 2023 to compete at the highest level over 13 existing UCI World Championships.

Sport Minister Maree Todd said:

With only a few months to go until the 2023 UCI Cycling World Championships, Im delighted that the Cycling Facilities Fund continues to contribute to a long-lasting active legacy.

This latest investment into an accessible and inclusive facility will support the local community to be active and hopefully encourage more people to give cycling a try -benefiting their physical, mental and social health.

The Cycling Facilities Fund is made possible through a 4 million commitment from Scottish Government and 4 million from sportscotland through National Lottery funds.

This unprecedented investment in cycling infrastructure across the country is being delivered through a partnership between Scottish Cycling and sportscotland to ensure projects can have a lasting impact on their communities and the sport well beyond the Championships.

Chief Executive of sportscotland, Forbes Dunlop, added:

The Cycling Facilities Fund is a fantastic opportunity to build on the excitement generated by a major sporting event by creating a network of places for people across Scotland to get involved in cycling.

Creating an accessible community hub to encourage participation in cycling and physical activity more widely, is exactly the kind of project we hoped would be delivered through this fund. Ellon Wheel Park Group has demonstrated real ambition and commitment and we look forward to seeing the riders enjoying their new home later this year.

Ellon is the latest community to benefit from the fund which has already seen 34 projects share over 4,535,000 of investment to provide accessible community and club facilities that inspire new and existing cyclists to make cycling a sport for life.

Craig Burn, Strategy, Policy and Impacts Director for the organising committee, said:

This August Glasgow and Scotland will welcome the worlds greatest cyclists and para cyclists for the first of its kind event, the 2023 UCI Cycling World Championships. It will inspire people to ride bikes whether it be for sport, leisure or transport.

The investment in Ellon Wheel Park Group to create an exciting new wheeled sport hub in Aberdeenshire is a wonderful reflection of the wider ambition of the Championships to work in collaboration with cycling and wider partners to create fun and safe places for people to discover the joy riding a bike can bring to their everyday lives.

The Championships is more than just an event and will celebrate the unique power of the bike and all it can bring to everyday lives, whether its physical and mental health benefits, easing congestion on the road to help the environment, or simply making it easier for people to get around. Underpinned by four key policy drivers - participation, transport, tourism and economy - the Championships will be a catalyst for behavioural change across Scotland moving forward.

The rest is here:
Ellon Wheel Park to recieve Cycling Facilities Fund support - British Cycling

18 April 2023

Pioneer Legal

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Start-ups and small companies in India are always on the lookoutfor viable sources of capital. At the same time, small investorsare interested in diversifying their portfolios and betting onpromising new ventures. This has led to the mushrooming of manyplatforms offering companies an opportunity to connect withinvestors to crowdsource their funding goals.

Equity crowdfunding is not explicitly regulated under Indianlaw. In light of this, the platforms have taken a considered viewthat so far as they and the companies using them comply with theprovisions of the Companies Act, 2013 and the applicable SEBIregulations, their activities would be permissible. Afterall, mostsuch platforms merely act as technology intermediaries connectingthe investors and the companies with each other.

However, a couple of recent orders passed by the Registrar ofCompanies, NCT of Delhi and Haryana("ROC") in the matter of AnbronicaTechnologies Private Limited and Septanove Technologies PrivateLimited ("Companies") have put thismodel of raising funds through crowdfunding under the scanner.

Background:

ROC Observations:

Order:

Conclusion:

Footnotes

1.Section 42(10): "Subject to sub-section (11), if a companymakes an offer or accepts monies in contravention of this section,the company, its promoters and directors shall be liable for apenalty which may extend to the amount raised through privateplacement or two crore rupees, whichever is lower and the companyshall also refund all the monies with interest as specified insub-section (6) to subscribers within a period of third days of theorder imposing the penalty."

2.Section 446B: "Notwithstanding anything contained in thisAct, if penalty is payable for non-compliance of any of theprovisions of this Act by a One Person Company, small company,start-up company or Producer Company, or by any of its officer indefault, or any other person in respect of such company, then suchcompany, its officer in default or any other person, as the casemay be, shall be liable to a penalty which shall not be more thanone-half of the penalty specified in such provisions subject to amaximum of two lakh rupees in case of a company and one lakh rupeesin case of an officer who is in default or any other person, as thecase may be."

3. https://www.sebi.gov.in/sebi_data/attachdocs/1403005615257.pdf

The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances.

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The ROC Strikes Back At The Crowd Funding Model - Securities ... - Mondaq News Alerts

Visakhapatnam : The efforts of VSP to mobilise funds for repair of the blast furnaces and make them operational is taking several twists and turns. While the Telangana Government took a U-turn on its hyped decision to participate in the bid and invest Rs 5,000 crore, in a surprise move, former Joint Director (JD) of the CBI VV Lakshminarayana submitted an Expression of Interest (EoI).

The former JD's registration for the EoI was done through a private firm. Terming the Visakhapatnam Steel Plant as the pride of Andhra people, Lakshminarayana said that the plant needs to be protected from being privatised and hence he decided to participate in the bidding.

The VSP is still an infant, he said. He further said that the government may believe in 'clean shave' of the steel plant, but he believes in 'clear save' and that is the reason why he decided to pitch in. The next step, he said, would be focused on pooling of funds once the bid is declared qualified.

Talking about raising funds for the VSP, Lakshminarayana said that crowd funding and digital transfer systems would be considered. "Even if 8.5 crore Telugu people contribute Rs100 a month, it would help in saving VSP from strategic sale with a collection of Rs 850 crore within a few months," he added.

Making it clear that his move was not a political stunt, Lakshminarayana said his aim was to protect Rashtriya Ispat Nigam Ltd (RINL) from getting passed on to private players. If the bidding does not get qualified, still he would continue his fight in the court to protect it from being privatised, he stated.

He said, "Since there are a number of on-going infrastructure projects in Telangana, I have been requesting the Telangana government to get raw material from VSP to cater to their project requirements so that it would be a win-win situation. Also, I have met Telangana Chief Minister K Chandrashekar Rao and submitted a request towards this direction as well," he said.

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Visakhapatnam: Former JD VV Laxmi Narayana of CBI goes for crowd funding to save Vizag steel plant - The Hans India

Mumbai, Maharashtra, India: Following the success of his previous film "Tony" under the innovative "Pay only if you like the film" business model, writer-director Vipul K Rawal is excited to announce his next project, which will be funded through a crowdfunding campaign.

"I could have easily sold that story for a massive amount to any established producer or studio, but I am sure they would have spoilt my script as they have done in the past. Moreover, I dont want these brokers to earn lifelong from my creativity any longer. It is high time for a change in Bollywood and I strongly feel that a massive disruption of the existing system is needed. I am therefore thrilled to partner with genuine cinema lovers to bring this project to life, on my terms and conditions," said Rawal. "After the overwhelming success of our previous project, we are confident that our audience will continue to support our work and help us bring this new film to the big screen. More than 1500 people had donated to our previous film TONY and since I had a ready database of genuine cinema lovers I tapped them first and I have already received pledges worth several lakhs rupees from them."

The campaign, which launches today, offers an opportunity for fans of Rawal's to support the upcoming film and become part of the production process. Investors who contribute a minimum of Rs. 10,000 will receive a share in the film's profits and the designation of Associate Producer in the credits.

Rawal is a critically acclaimed writer-director in the Indian film industry, known for his thought-provoking storytelling and dynamic characters. His company Whitewater Entertainment aims to produce meaningful and world-class cinema that focuses solely on the strength of its content. His previous work includes the award-winning film Iqbal, "Mumbai Varanasi Express", "Batti Gul Meter Chalu" "Rustom" and the critically acclaimed TONY that Rawal made on a shoestring budget of 75 Lakh rupees and released on YouTube. Rawal is excited to bring his unique vision to this new project and is confident that it will resonate with audiences around the world.

For more information on the crowdfunding campaign, please visit the official website at http://www.whitewaterentertainment.in and go through the FAQs or send an email to [emailprotected] or call on +91-9987639426 to talk to him personally.

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Scriptwriter Vipul K Rawal Turns to Crowd Funding to Protect His ... - Business Wire India