Point in time view as at 03/08/2023.
Housing and Planning Act 2016, Section 97 is up to date with all changes known to be in force on or before 08 March 2025. 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.
(1)Objective 1 is to—
(a)rescue the registered provider as a going concern,
(b)achieve a better result for the registered provider's creditors as a whole than would be likely if the registered provider were wound up (without first being in housing administration), or
(c)realise property in order to make a distribution to one or more secured or preferential creditors.
(2)The housing administrator must aim to achieve Objective 1(a) unless the housing administrator thinks—
(a)that it is not reasonably practicable to achieve it, or
(b)that Objective 1(b) would achieve a better result for the registered provider's creditors as a whole.
(3)The housing administrator may aim to achieve Objective 1(c) only if—
(a)the housing administrator thinks that it is not reasonably practicable to achieve Objective 1(a) or (b), and
(b)the housing administrator does not unnecessarily harm the interests of the registered provider's creditors as a whole.
(4)In pursuing Objective 1(a), (b) or (c) the housing administrator must act in the interests of the registered provider's creditors as a whole so far as consistent with that Objective.
Commencement Information
I1S. 97 in force at 5.7.2018 by S.I. 2018/805, reg. 3(a)
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