Registered providers: insolvency, restructuring etc

Notification of change of control
20
1
The Housing and Regeneration Act 2008 is amended as follows.
2
Before section 169D (and the heading immediately before it) insert—

Notification of change of control

Application of rules about notification of change of control
169CB
This group of sections does not apply to local authorities.

Change in board members
169CC
1
A registered provider must notify the regulator if—
a
the board members of the registered provider change (whether as a result of an appointment or removal of a board member or for any other reason), and
b
following that change, any of the circumstances described in subsection (2) arise.
2
The circumstances are that—
a
the number of board members of the provider has increased by more than 50% since the beginning of the relevant period;
b
the number of board members of the provider has decreased by more than 50% since the beginning of the relevant period;
c
more than 50% of the board members of the provider are persons who were not board members of the provider at the beginning of the relevant period.
3
For the purposes of this section, the “board members” of a registered provider are—
a
in the case of a registered charity which is not a registered company, its charity trustees within the meaning given by section 177 of the Charities Act 2011;
b
in the case of a registered society, the members of its committee within the meaning given by section 149 of the Co-operative and Community Benefit Societies Act 2014;
c
in the case of a registered company, its directors within the meaning given by section 250 of the Companies Act 2006;
d
in the case of a limited liability partnership, its members.
4
For the purposes of this section, “the relevant period” is—
a
the period of 12 months ending with the day on which the change mentioned in subsection (1)(a) takes effect (“the 12 month period”), or
b
if the registered provider was not a registered provider throughout the 12 month period, the period—
i
beginning with the day (or, if more than one, the latest day) in the 12 month period on which it became a registered provider, and
ii
ending with the day on which the change mentioned in subsection (1)(a) takes effect.

Change in subsidiary status
169CD
A registered provider must notify the regulator each time—
a
it becomes a subsidiary of a person, or
b
it ceases to be a subsidiary of a person.
S. 20 not in force at Royal Assent, see s. 46(3)
S. 20 in force at 1.4.2024 by S.I. 2024/437, reg. 2(m)