The much trailed proposed changes to Category 6 (on-lending) were in the end not as extensive as anticipated: RPs can on-lend to group members fundamentally, as before, except if the lending is index linked. The whole Category 6 excludes subsidiaries of RPs with unregistered parents.
Category 8 has been varied so the exemption for charges to local authorities to enable the purchase, construction, conversion or refurbishment of unoccupied social housing does not apply when the funding is a loan from a local authority. This means that specific consent would be needed if an RP is borrowing money from a local authority for the purpose outlined above. This may well be an issue for RPs who currently obtain funding from local authorities.
For more information please contact Emma Hardman on 0121 214 3617 or at emma.hardman@anthonycollins.com.
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The Times is looking for three or four charities to feature in their editions running in December 2019 and early January 2020.
Cliff Mills defines and talks about the importance of social value in his blog, and its potential within Greater Manchester.
Following a power outage at Anthony Collins Solicitors’ (ACS) Birmingham office, our employees and partners currently have limited functionality, including no access to emails.
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