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Housing and Regeneration Act 2008

Section 166 - Winding up petition by the regulator

485.This section broadly replicates the effect of paragraph 14 of Schedule 1 to the 1996 Act.

486.Subsection (1) specifies that the effect of this section is restricted to non-profit registered providers that are either registered companies, or industrial and provident societies.

487.Subsection (2) provides that the regulator may present a petition for the registered provider to be wound up under the Insolvency Act 1986 on one of the grounds specified in subsections (3) to (5) which are that:

  • the registered provider is not carrying out the objects specified in its constitution, or

  • the registered provider is unable to pay its debts as that inability is defined in section 123 of the Insolvency Act 1986, or

  • the regulator has directed the registered provider to transfer its land to another person under the power conferred on it by section 253.

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