27(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—E+W
(a)that there has been misconduct or mismanagement in its administration, or
(b)that the management of its land would be improved if its land were transferred in accordance with the provisions of this paragraph,
the [F1Relevant Authority] may, F2. . . direct the registered social landlord to make such a transfer . F3...
(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.
(4)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).
Textual Amendments
F1Words 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.
F2Words in Sch. 1 para. 27(1) repealed (1.11.1998) by 1998 c. 38, ss. 140, 152, Sch. 16 para. 96(6)(a), Sch. 18 Pt.VI (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1998/2244, art.5.
F3Words in Sch. 1 para. 27(1) repealed (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 106(9)(a), Sch. 4 (with art. 6, Sch. 3)
F4Words in Sch. 1 para. 27(4) repealed (1.4.2010) by The Housing and Regeneration Act 2008 (Consequential Provisions) Order 2010 (S.I. 2010/866), art. 1(2), Sch. 2 para. 106(9)(b), Sch. 4 (with art. 6, Sch. 3)
Modifications etc. (not altering text)
C1Sch. 1 para. 27(4) modified (1.12.2008) by The Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839), arts. 1(1), 3, Sch. para. 5 (with art. 6)
Commencement Information
I1Sch. 1 para. 27 wholly in force at 1.10.1996; Sch. 1 para. 27 not in force at Royal Assent see s. 232(3); Sch. 1 para. 27(4) in force for certain purposes at 1.8.1996 by S.I. 1996/2048, art. 3; Sch. 1 para. 27 in force at 1.10.1996 to the extent that it is not already in force, by S.I. 1996/2402, art. 3 (subject to the transitional provisions and savings in the Sch. of that S.I.)