The Rugby Football Union has agreed that the membership of Moseley RFC Ltd be transferred to the new club Moseley Rugby Ltd.
Moseley Rugby Ltd has agreed to meet all IRB and RFU Rules and Regulations as well as fulfilling their obligations to First Division Rugby Ltd.
A group of Moseley members, led by former captain Dave Warren, have been given approval by the Rugby Football Union to take control of the cash-strapped National League One team, beating off a rival bid by Oxford United.
The hard-up National League One side had been awaiting an RFU verdict on two proposals that had been put forward.
Henley, who finished second-bottom last season and who will now start the new campaign in the southern section of League Two, had indicated their willingness to take Moseley's position should the decision go against them.
Moseley, previously one of the top clubs in England, have struggled financially since the start of the professional era. They sold their famous Reddings ground three years ago, moving into a new base at Birmingham University.