Why we are engaging with Rutherglen and Cambuslang Housing Association Ltd (Rutherglen and Cambuslang)
We are engaging with Rutherglen and Cambuslang about its governance.
Rutherglen & Cambuslang has told us that eight out of 12 of its governing body members have served for more than nine years. The Regulatory Standards of Governance and Financial Management require landlords to formally and actively plan to ensure orderly succession of governing body places to ensure the sustainability of the governing body. Rutherglen & Cambuslang is taking action to improve its succession planning and ensure it is meeting regulatory requirements.
What Rutherglen and Cambuslang must do
Rutherglen and Cambuslang must keep us informed as it works through its plans to ensure it is meeting regulatory requirements.
What we will do
- review the information it provides us with regarding succession planning and engage as necessary; and
- update our published engagement plan in light of any material change to our planned engagement with Rutherglen & Cambuslang.
Rutherglen and Cambuslang must provide us with the following annual regulatory returns and alert us to notifiable events as appropriate:
- Annual Assurance Statement;
- audited financial statements and external auditor’s management letter;
- loan portfolio return;
- five year financial projections; and
- Annual Return on the Charter.
It should also notify us of any material changes to its Annual Assurance Statement, and any tenant and resident safety matter which has been reported to or is being investigated by the Health and Safety Executive or reports from regulatory or statutory authorities or insurance providers, relating to safety concerns.