The Homes and Communities Agency (HCA) has recently published a statutory consultation on amending the regulatory framework for social housing in England in order to protect social housing assets.
The consultation proposals include:
- Changes to the Governance and Financial Viability Standard to ensure that registered providers effectively manage their businesses and undertake any activities relating to the provision of social housing separately, ensuring that social housing assets are protected from the non-social housing parts of the business.
- A requirement for the parent company of a group that is a registered provider to ensure that all the registered members in the group comply with regulatory requirements.
- Changes to the disposals regime so that the sale proceeds of assets (developed and maintained with public money) are captured by using the Disposal Proceeds Funds and redirected into social housing.
- Changes to the criteria that applicants have to meet when they are applying to join the register of social housing providers.
The consultation closes on 19 August 2014.
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