The Act Regulatory intervention by Scottish Housing Regulator Section 87 – Manager of registered society: extra powers
24.Part 7 of the 2010 Act covers the Regulator’s powers where an RSL is about to become insolvent and includes provision imposing a moratorium on the disposal of an RSL’s land(5) and giving the Regulator power to appoint, or require the RSL to appoint, an interim manager under section 79 of the Act to manage the RSL’s affairs during the moratorium. During the moratorium, the Regulator may make proposals for the future ownership and management of the RSL’s land(6) and may also appoint a manager to implement those proposals under section 85 of the Act.
25.Section 87 of the 2010 Act provides for certain extra powers exercisable by such a manager where the RSL is a registered society,(7) including the power to make and execute instruments providing for the amalgamation of the society and for transferring the society’s engagements.
26.Section 1(5) of the Act amends section 87(3) and (4) to update references to sections of the Co-operative and Community Benefit Societies and Credit Unions Act 1965 with references, instead, to the equivalent sections of the Co-operative and Community Benefit Societies Act 2014, which has replaced the 1965 Act. The Act replaces and updates a number of such references to the 1965 Act to ensure that the provisions in the 2010 Act work as they should.(8)