The Scottish Housing Regulator has ended its appointment of a statutory manager at Fairfield Housing Co-operative.
The Regulator has published a revised engagement plan which shows it took this decision because the Co-operative has made significant improvements to its governance and financial health.
The Regulator first used its statutory powers to appoint a manager and seven members to the Co-operative's governing body in December 2018 after it identified serious weakness in governance and financial health. It took this action to safeguard the interests of tenants.
Helen Shaw, Assistant Director of Regulation, said: “Fairfield has worked co-operatively with us to deliver significant improvements in its governance and financial management.
“The Co-operative has also set up a collaborative working agreement with Kingdom Housing Association to ensure it has the support it needs to comply with Regulatory Standards.
“We’ve continued our appointments of the seven members to its governing body to ensure it has the support it needs to provide effective leadership and strategic direction and ensure it sustains the improvements it has made.”
The Regulator will review its appointments to the governing body in September this year.
Notes to editors
- The Scottish Housing Regulator was established on 1 April 2011 under the Housing (Scotland) Act 2010. Its objective is to safeguard and promote the interests of tenants and others who use local authority and RSL housing services. The Regulator operates independently of Scottish Ministers and is accountable directly to the Scottish Parliament. It assumed its full regulatory responsibilities on 1 April 2012. The Regulator consists of the Chair and six Board members. More information about the Regulator can be found on its website at housingregulator.gov.scot
- SHR sets out how it regulates social landlords in its published framework – Regulation of Social Housing in Scotland.