Structure of the Act Part 2 – Regulation of Social Housing Insolvency etc. Section 154 - Proposals: effect
426.Subsection (1) lists those who are obliged to implement agreed proposals. This broadly replicates the effect of section 45(2) of the 1996 Act. The list is as follows:
	the regulator,
	the registered provider,
	its creditors,
	any liquidator, administrator, administrative receiver or receiver appointed in respect of the registered provider or its land.
427.Subsection (2) lists those who are obliged to co-operate with the implementation of the agreed proposals. They are the members of the governing body of the registered providers as follows:
	for a registered charity, its trustees,
	for an industrial and provident society, its committee members, and
	for a registered company, its directors.
428.Subsection (3) provides that subsection (2) does not oblige or permit those who are expected to co-operate to breach a fiduciary duty to the registered provider or other duty.
429.Subsections (2) and (3) broadly replicate the effect of sections 45(2) and 45(3) of the 1996 Act.