SCHEDULES
SCHEDULE 1 Registered social landlords: regulation
Part IV Inquiry into affairs of registered social landlords
Power to direct transfer of land
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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—
F5a
that it has failed to comply with a requirement imposed by or under an enactment, and
b
that the management of its land would be improved if its land were transferred in accordance with the provisions of this paragraph,
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
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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).