Housing and Regeneration Act 2008

Restrictions on dealings [F1by non-profit registered providers]E+W

Textual Amendments

256Restrictions on dealings during inquiryE+W

(1)The regulator may make an order under this section if—

(a)an inquiry under section 206 is in progress in respect of a non-profit registered provider, and

(b)either of the following cases applies.

(2)Case 1 applies if the regulator has reasonable grounds for believing—

(a)that the affairs of the registered provider have been mismanaged, and

(b)that the interests of tenants of the registered provider, or its assets, require protection.

(3)Case 2 applies if as a result of an inquirer's interim report under section 207 the regulator is satisfied that the affairs of the registered provider have been mismanaged.

(4)The regulator may order a bank or other person who holds money or securities on behalf of the registered provider not to part with the money or securities without the regulator's consent.

(5)The regulator may make an order restricting—

(a)the transactions that may be entered into by the registered provider, or

(b)the nature and amounts of payments that may be made by it.

(6)An order under subsection (5) may in particular provide that transactions may not be entered into or payments made without the regulator's consent.

[F2(6A)If the registered provider is a registered charity, the regulator must notify the Charity Commission if it makes an order under this section.]

F3(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8)An order ceases to have effect at the end of the period of 6 months beginning with the day on which the inquirer's final report under section 207 is made.

(9)But the regulator—

(a)may revoke the order before that time;

(b)may by order extend it for a specified period of up to 6 months.

Textual Amendments

Commencement Information

I1S. 256 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)

257Restrictions on dealings following inquiryE+W

(1)This section applies if as a result of an inquiry under section 206 or an audit under section 210 the regulator is satisfied that the affairs of a non-profit registered provider have been mismanaged.

(2)The regulator may order a bank or other person who holds money or securities on behalf of the registered provider not to part with the money or securities without the regulator's consent.

(3)The regulator may make an order restricting—

(a)the transactions that may be entered into by the registered provider, or

(b)the nature and amounts of payments that may be made by it.

(4)An order under subsection (3) may in particular provide that transactions may not be entered into or payments made without the regulator's consent.

[F4(4A)If the registered provider is a registered charity, the regulator must notify the Charity Commission if it makes an order under this section.]

F5(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6)An order under this section has effect until revoked by the regulator.

Textual Amendments

Commencement Information

I2S. 257 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)

258Restrictions on dealings: supplementalE+W

(1)Before making an order under section 256 or 257 the regulator must take all reasonable steps to give notice to—

(a)the registered provider, and

(b)in the case of an order under section 256(4) or 257(2), the person to whom the order is directed.

(2)Contravention of an order under section 256(4) or 257(2) is an offence.

(3)A person guilty of an offence is liable on summary conviction to a fine F6....

(4)Proceedings for an offence may be brought only by or with the consent of—

(a)the regulator, or

(b)the Director of Public Prosecutions.

Textual Amendments

Commencement Information

I3S. 258 in force at 1.4.2010 by S.I. 2010/862, art. 2 (with Sch.)