C1C2Part IF5Social Rented Sector F7regulated by the Welsh Ministers
Words in Pt. I title substituted (18.10.2011) by Housing (Wales) Measure 2011 (nawm 5), s. 90(2), Sch. para. 2; S.I. 2011/2475, arts. 1(2), 2(u)
Part I (ss. 1-64) amended (1.10.1996) by S.I. 1996/2325, art.3
Pt. 1: The system of "registered social landlords" under this Part is replaced (8.9.2008 for specified purposes and 1.12.2008, 16.2.2009, 1.4.2009, 7.9.2009 and 1.4.2010 for further purposes) by Housing and Regeneration Act 2008 (c. 17), Pt. 2. This Part continues to apply in relation to Wales with certain provisions applied in relation to England and certain provisions preserved although they apply to England only, see s. 60 of the affecting Act; S.I. 2008/2358, art. 3; S.I. 2008/3068, art. 3 (with arts. 6-13); S.I. 2009/363, art. 2; S.I. 2009/803, art. 7; S.I. 2009/2096, art. 2(1); S.I. 2010/862, art. 2 (with Sch.)
Chapter IV General powers of the F2Relevant Authority
Words in Pt. I substituted (1.11.1998) by 1998 c. 38, s. 140, Sch. 16 para. 82(1)(2) (with ss. 139(2), 141(1), 143(2)); S.I. 1998/2244, art.5.
Insolvency, &c. of registered social landlord
45 Effect of agreed proposals.
1
The following provisions apply if proposals made by F6the Welsh Ministers under section 44 are agreed, with or without modifications, by all the secured creditors of the registered social landlord.
2
Once agreed the proposals are binding on F6the Welsh Ministers, the landlord, all the landlord’s creditors (whether secured or unsecured) and any liquidator, administrator, administrative receiver or receiver appointed in respect of the landlord or its land.
3
It is the duty of—
a
the members of the committee where the landlord is F9a registered society,
b
the directors where the landlord is F4a company (including a company that is a registered charity) , and
c
the trustees where the landlord is a charitable trust,
to co-operate in the implementation of the proposals.
This does not mean that they have to do anything contrary to any fiduciary or other duty owed by them.
4
The F1Relevant Authority shall serve a copy of the agreed proposals on—
a
the landlord and its officers,
b
the secured creditors of the landlord, and
c
any liquidator, administrator, administrative receiver or receiver appointed in respect of the landlord or its land, and
d
and it shall make such arrangements as it considers appropriate to see that the members, tenants and unsecured creditors of the landlord are informed of the proposals.
5
The proposals may subsequently be amended with the consent of the F1Relevant Authority and all the landlord’s secured creditors.
Section 44(2) to (7) and subsections (2) to (4) above apply in relation to the amended proposals as in relation to the original proposals.
Pt. I title substituted (1.4.2010) by Housing and Regeneration Act 2008 (c. 17), ss. 61(1), 325(1); S.I. 2010/862, art. 2 (with Sch.)