|
| |
|
| |
(1) | This section applies to information that a person has received while acting— |
| |
(a) | as auditor of a non-profit registered provider, or |
| |
(b) | as a reporting accountant in relation to a non-profit registered provider. |
| |
(2) | The person may disclose the information to the regulator for a purpose |
| 5 |
connected with the regulator’s functions— |
| |
(a) | despite any duty of confidentiality, and |
| |
(b) | whether or not the regulator requests the information. |
| |
(3) | The reference to disclosing information includes expressing an opinion on it. |
| |
(4) | “Reporting accountant” means a person who is appointed to prepare a report |
| 10 |
which, by virtue of any enactment, has to be prepared in respect of accounts |
| |
that are not subject to audit. |
| |
| |
135 | Non-profit providers only |
| |
This group of sections applies only to non-profit registered providers. |
| 15 |
136 | Preparatory steps: notice |
| |
A step specified in the Table has effect only if the person specified has given |
| |
| |
| | | | | | Any step, of a kind prescribed for the purposes of this |
| The person taking the step |
| | 20 | | section by the Secretary of State by order, to enforce a |
| | | | | security over land held by a registered provider |
| | | | | Presenting a petition for the winding up of a registered |
| | | | | | | | | | (a) | a registered company, or |
| | | 25 | | (b) | an industrial and provident society |
| | | | | Passing a resolution for the winding up of a registered |
| | | | | | | | | | (a) | a registered company, or |
| | | | | (b) | an industrial and provident society |
| | | 30 | | But not the passing of a resolution for winding-up |
| | | | | where the regulator’s consent is required under section |
| | | | | | | | | | Making an administration application in accordance |
| | | | | with paragraph 12 of Schedule B1 to the Insolvency Act |
| | | 35 | | 1986 in respect of a registered provider which is a |
| | | | | | | | | | Appointing an administrator under paragraph 14 or 22 |
| | | | | of that Schedule in respect of a registered provider |
| | | | | which is a registered company |
| | | 40 | | Filing with the court a copy of a notice of intention to |
| The person filing the notice |
| | | | appoint a person under either of those paragraphs in |
| | | | | respect of a registered provider which is a registered |
| | | | | | | | |
|
|
| |
|
| |
|
| |
(1) | If a step specified in the Table below is taken in respect of a registered provider, |
| |
a moratorium on the disposal of land by the provider begins. |
| |
(2) | Where a step specified in the Table is taken in respect of a registered provider, |
| |
the person specified must give the regulator notice as soon as is reasonably |
| 5 |
| |
(3) | If the notice is not given the step is not invalidated (but the end of the |
| |
moratorium depends on the notice being given — see section 138(2)). |
| |
| | | | | | Any step, of a kind prescribed for the purposes of this |
| The person taking the step |
| | 10 | | section by the Secretary of State by order, to enforce a |
| | | | | security over land held by a registered provider |
| | | | | The making of an order for winding up a registered |
| | | | | | | | | | (a) | a registered company, or |
| | | 15 | | (b) | an industrial and provident society |
| | | | | The passing a resolution for the winding up of a |
| | | | | registered provider which is— |
| | | | | (a) | a registered company, or |
| | | | | (b) | an industrial and provident society |
| | | 20 | | The making of an administration order in accordance |
| The person who applied for the |
| | | | with paragraph 13 of Schedule B1 to the Insolvency Act |
| | | | | 1986 in respect of a registered provider which is a |
| | | | | | | | | | The appointment of an administrator under paragraph |
| | | 25 | | 14 or 22 of that Schedule in respect of a registered |
| | | | | provider which is a registered company |
| | | |
|
138 | Duration of moratorium |
| |
(1) | The moratorium begins when the step specified in section 137 is taken. |
| |
(2) | The moratorium ends (unless extended or cancelled) with the period of 28 days |
| 30 |
beginning with the day on which the regulator receives notice under section |
| |
| |
(3) | During a moratorium the regulator may extend it (or further extend it) for a |
| |
specified period, with the consent of each secured creditor of the registered |
| |
| 35 |
(4) | If the regulator extends a moratorium it shall notify— |
| |
(a) | the registered provider, and |
| |
(b) | any liquidator, administrator, administrative receiver or receiver |
| |
appointed in respect of the registered provider or its land. |
| |
(5) | During a moratorium the regulator may cancel it if satisfied that it is |
| 40 |
unnecessary to make proposals under section 142. |
| |
(6) | Before cancelling a moratorium the regulator must consult the person who |
| |
took the step that triggered it. |
| |
|
| |
|
| |
|
(7) | When a moratorium ends the regulator shall give notice, and (except in the case |
| |
of cancellation) an explanation of section 139, to— |
| |
(a) | the registered provider, and |
| |
(b) | its secured creditors. |
| |
(8) | Taking a further step during a moratorium does not— |
| 5 |
(a) | start a new moratorium, or |
| |
(b) | alter the existing moratorium’s duration. |
| |
| |
(1) | This section applies if— |
| |
(a) | a moratorium in respect of a registered provider ends otherwise than |
| 10 |
| |
(b) | a further step specified in section 137 is taken in relation to the provider |
| |
within the period of 3 years beginning with the end of the moratorium. |
| |
(2) | The further step does not automatically trigger a further moratorium. |
| |
(3) | But the regulator may impose a further moratorium for a specified period, if |
| 15 |
each secured creditor of the registered provider consents. |
| |
(4) | If the regulator imposes a new moratorium it shall notify— |
| |
(a) | the registered provider, and |
| |
(b) | any liquidator, administrator, administrative receiver or receiver |
| |
appointed in respect of the registered provider or any of its land. |
| 20 |
(5) | This group of sections applies to a further moratorium as to a first moratorium |
| |
(except for section 138(2)). |
| |
| |
(1) | During a moratorium the registered provider’s land may be disposed of only |
| |
with the regulator’s prior consent. |
| 25 |
(2) | Section 141 sets out exceptions to subsection (1). |
| |
| |
(a) | may be given before the moratorium begins, and |
| |
(b) | may be subject to conditions. |
| |
(4) | This section does not prevent a liquidator from disclaiming land as onerous |
| 30 |
property during a moratorium. |
| |
(5) | In this section “land” includes a present or future interest in rent or other |
| |
receipts arising from land. |
| |
| |
(1) | The regulator’s consent is not required under section 140 for the following |
| 35 |
| |
(2) | Exception 1 is a letting under— |
| |
(a) | an assured tenancy, or |
| |
(b) | an assured agricultural occupancy. |
| |
|
| |
|
| |
|
(3) | Exception 2 is a letting under what would be an assured tenancy or an assured |
| |
agricultural occupancy but for any of paragraphs 4 to 8 and 12(1)(h) of |
| |
Schedule 1 to the Housing Act 1988 (c. 50) (tenancies which cannot be assured |
| |
| |
(4) | Exception 3 is a letting under a secure tenancy. |
| 5 |
(5) | Exception 4 is a letting under what would be a secure tenancy but for any of |
| |
paragraphs 2 to 12 of Schedule 1 to the Housing Act 1985 (c. 68) (tenancies |
| |
which are not secure tenancies). |
| |
(6) | Exception 5 is a disposal to which section 81 or 133 of the Housing Act 1988 |
| |
applies (disposals requiring Secretary of State’s consent). |
| 10 |
(7) | Exception 6 is a disposal under Part V of the Housing Act 1985 (right to buy). |
| |
(8) | Exception 7 is a disposal under the right conferred by section 16 of the Housing |
| |
Act 1996 (c. 52) (tenant’s right to acquire social housing). |
| |
| |
(1) | During a moratorium the regulator may make proposals about the future |
| 15 |
ownership and management of the registered provider’s land, with a view to |
| |
ensuring that the property will be properly managed by a registered provider. |
| |
(2) | In making proposals the regulator shall— |
| |
(a) | have regard to the interests of the registered provider’s creditors as a |
| |
| 20 |
(b) | so far as is reasonably practicable avoid worsening the position of |
| |
| |
(3) | Proposals may provide for the appointment of a manager in accordance with |
| |
section 145 to implement all or part of the proposals. |
| |
(4) | Proposals may not include anything which would result in— |
| 25 |
(a) | a preferential debt being paid otherwise than in priority to a non- |
| |
| |
(b) | a preferential creditor (PC1) being paid a smaller proportion of a |
| |
preferential debt than another preferential creditor (PC2) (unless PC1 |
| |
| 30 |
(5) | Proposals relating to a registered provider which is a charity (C1)— |
| |
(a) | may not require it to act outside the terms of its trusts, and |
| |
(b) | may provide for the disposal of accommodation only to another charity |
| |
whose objects the regulator thinks are similar to those of C1. |
| |
| 35 |
(1) | Before making proposals the regulator shall consult— |
| |
(a) | the registered provider, |
| |
(b) | its tenants (so far as is reasonably practicable), |
| |
(c) | if the registered provider is an industrial and provident society, the |
| |
Financial Services Authority, and |
| 40 |
(d) | if the registered provider is a registered charity, the Charity |
| |
| |
|
| |
|
| |
|
(2) | The regulator shall send a copy of proposals to— |
| |
(a) | the registered provider, |
| |
(b) | its secured creditors, and |
| |
(c) | any liquidator, administrator, administrative receiver or receiver |
| |
appointed in respect of the registered provider or any of its land. |
| 5 |
(3) | The regulator shall also make arrangements for bringing proposals to the |
| |
| |
(a) | the registered provider’s members and officers, |
| |
| |
(c) | its unsecured creditors. |
| 10 |
(4) | If each secured creditor of a registered provider agrees to proposals by notice |
| |
to the regulator, the proposals have effect. |
| |
(5) | Proposals may be agreed with modifications to which each secured creditor |
| |
consents by notice to the regulator. |
| |
(6) | The regulator shall send a copy of agreed proposals to— |
| 15 |
(a) | the registered provider, |
| |
(b) | its secured creditors, |
| |
(c) | any liquidator, administrator, administrative receiver or receiver |
| |
appointed in respect of the registered provider or any of its land, |
| |
(d) | if the registered provider is an industrial and provident society, the |
| 20 |
Financial Services Authority, and |
| |
(e) | if the registered provider is a registered charity, the Charity |
| |
| |
(7) | The regulator shall also make arrangements for bringing agreed proposals to |
| |
| 25 |
(a) | the registered provider’s members and officers, |
| |
| |
(c) | its unsecured creditors. |
| |
(8) | Proposals may be amended by agreement between the secured creditors and |
| |
the regulator; and this section and section 142 apply to an amendment as to the |
| 30 |
| |
| |
(1) | The following are obliged to implement agreed proposals— |
| |
| |
(b) | the registered provider, |
| 35 |
| |
(d) | any liquidator, administrator, administrative receiver or receiver |
| |
appointed in respect of the registered provider or any of its land. |
| |
(2) | The following shall co-operate with implementation of agreed proposals— |
| |
(a) | in the case of a charitable trust, its trustees, |
| 40 |
(b) | in the case of an industrial and provident society, its committee |
| |
| |
(c) | in the case of a registered company, its directors. |
| |
(3) | Subsection (2) does not require or permit a breach of a fiduciary or other duty. |
| |
|
| |
|