Section 153: Proposals: procedure, Housing and Regeneration Act 2008

Before making proposals the regulator shall consult—

the registered provider,

its tenants (so far as is reasonably practicable) or its contract-holders (so far as is reasonably practicable),

if the regulator is able to locate any secured creditors of the registered provider after making reasonable enquiries, those creditors,

if the registered provider is a registered society, the Financial Conduct Authority, and

if the registered provider is a registered charity, the Charity Commission.

If no secured creditors are located for the purposes of subsection (1), the proposals made by the regulator following the consultation required by that subsection are agreed proposals for the purposes of this group of sections.

Where the regulator locates one or more secured creditors of the registered provider for the purposes of subsection (1), the regulator must, before making proposals, send a copy of draft proposals to—

the registered provider ...,

the secured creditors located for the purposes of subsection (1), and

any liquidator, administrator, administrative receiver or receiver appointed in respect of the registered provider or any of its land.

If the regulator sends draft proposals under subsection (2), the regulator must also make arrangements for bringing those proposals to the attention of—

the registered provider's members,

its tenants or contract-holders and

its unsecured creditors.

If each secured creditor to whom draft proposals were required to be sent agrees to them by notice to the regulator, the draft proposals become agreed proposals for the purposes of this group of sections.

Draft proposals may be agreed with modifications if—

each secured creditor to whom the draft proposals were required to be sent consents by notice to the regulator, and

the regulator consents.

The regulator shall send a copy of agreed proposals to—

the registered provider ...,

any secured creditors to whom draft proposals were sent,

any liquidator, administrator, administrative receiver or receiver appointed in respect of the registered provider or any of its land,

if the registered provider is a registered society, the Financial Conduct Authority, and

if the registered provider is a registered charity, the Charity Commission.

The regulator shall also make arrangements for bringing agreed proposals to the attention of—

the registered provider's members,

its tenants or contract-holders and

its unsecured creditors.

The regulator may make proposals amending agreed proposals; and this section and section 152 apply to such proposals.

Section 153: Proposals: procedure

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