Part 2Regulation of Social Housing
Chapter 2The Social Housing Regulator
Money
99I1Remuneration
1
The regulator may pay to or in respect of appointed members—
a
remuneration,
b
travelling and other allowances, and
c
sums by way of or in respect of pensions and gratuities.
2
The Secretary of State shall determine rates and eligibility criteria for payments under subsection (1).
3
If the Secretary of State thinks there are special circumstances that make it right to compensate a person on ceasing to be an appointed member, the regulator may pay compensation determined by the Secretary of State.
4
The regulator may pay to or in respect of employees —
a
remuneration,
b
travelling and other allowances, and
c
sums by way of or in respect of pensions and gratuities.
5
In this section a reference to a member or employee includes a reference to a former member or employee.
100I3Charging
The regulator may charge for giving advice, conducting research or providing other services.
101I2Assistance by Secretary of State
1
The Secretary of State may make payments to the regulator by way of grant or loan.
2
A grant or loan may be subject to conditions (which may include provision for repayment, with or without interest).
102I6Borrowing
1
The regulator may borrow—
a
by way of overdraft or otherwise, for the purpose of what it considers to be short-term management of its finances, or
b
from the Secretary of State.
2
The regulator may not borrow otherwise.
103I5Accounts
1
The regulator shall keep accounts (and records of its accounts).
2
As soon as is reasonably practicable after the end of each financial year the regulator shall prepare a statement of accounts in respect of that financial year.
3
The statement must be in such form as the Secretary of State may direct.
4
The regulator shall, within such period as the Secretary of State may direct, send a copy of the statement to—
a
the Secretary of State, and
b
the Comptroller and Auditor General.
5
The Comptroller and Auditor General shall—
a
examine, certify and report on the statement, and
b
lay a copy of the report before Parliament.
104I4Financial year
1
The regulator's financial year is each period of 12 months beginning with 1st April.
2
But the first financial year is the period—
a
beginning with the day on which section 81 comes into force, and
b
ending with the next 31st March.