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Changes over time for: Paragraph 3
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Version Superseded: 16/01/2024
Status:
Point in time view as at 28/06/2022. This version of this provision has been superseded.
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Changes to legislation:
Building Safety Act 2022, Paragraph 3 is up to date with all changes known to be in force on or before 16 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Meaning of “financial management proposal”E+W
This section has no associated Explanatory Notes
3(1)In this Schedule “financial management proposal”, in relation to a higher-risk building, means a document setting out—
(a)an estimate of the relevant expenses the regulator expects a special measures manager for the building to incur (including a reasonable amount in respect of contingencies),
(b)the measures to which the relevant expenses relate, and
(c)if there is more than one accountable person for the building—
(i)the regulator's proposed apportionment of the relevant expenses between them, and
(ii)the reasons for that proposal (including any calculation giving rise to it).
(2)In this Schedule “relevant expenses” means expenses incurred by the special measures manager for a higher-risk building in connection with the exercise of their functions in relation to the building.
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