SCHEDULES

SCHEDULE 1 Registered social landlords: regulation

Part IV Inquiry into affairs of registered social landlords

Power to direct transfer of land

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1

Where as a result of an inquiry under paragraph 20 or an audit under paragraph 22 the F1Relevant Authority is satisfied as regards a registered social landlord—

F5a

that it has failed to comply with a requirement imposed by or under an enactment, and

b

that the management of its land would be improved if its land were transferred in accordance with the provisions of this paragraph,

F2F3the F1Relevant Authority may, . . . direct the registered social landlord to make such a transfer . ...

2

Where the registered social landlord concerned is a charity, the F1Relevant Authority may only direct a transfer to be made to another registered social landlord—

a

which is also a charity, and

b

the objects of which appear to the F1Relevant Authority to be, as nearly as practicable, akin to those of the registered social landlord concerned.

3

In any other case the F1Relevant Authority may direct a transfer to be made to the F1Relevant Authority or to another registered social landlord.

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The transfer shall be on such terms as the F1Relevant Authority may direct on the basis of principles determined by it.

F4...

5

The price shall not be less than the amount certified by the district valuer to be the amount the property would command if sold by a willing seller to another registered social landlord.

6

The terms shall include provision as to the payment of debts and liabilities (including debts and liabilities secured on the land).