What does it mean?
The Secretary of State (“SoS”), under regulations following the HPA16, has the power to make ‘grants’ to housing associations in respect of right-to-buy discounts. This is the mechanism that the Government will use to refund the discounts granted on VRTB sales back to the housing association.
The Act also sets out that the Homes and Communities Agency (HCA) will be required to monitor each housing association’s compliance with the ‘home-ownership criteria’. The detail of this criteria has yet to be determined but is very likely to include delivery of the VRTB. Jonathan Walters (of the HCA) has said though that compliance doesn’t need to be the VRTB and could be an alternative: the criteria is awaited with interest.
When will VRTB start?
There is still no clear timescale. The enabling legislation has permitted the SoS to make grants anytime from 26th May 2016 but in reality this will be initially just for the pilot associations. The timescales set out by the National Housing Federation (NHF) suggest that tenants will be able to start submitting applications by the end of this year.
What should housing associations be doing?
Planning and preparing.
The NHF is working with the Department for Communities Local Government (DCLG) to develop VRTB scheme ‘guidance’. Once approved by the Government, the guidance will be rolled out across the sector and housing associations will be required to develop their own VRTB policy working within that guidance. The NHF has indicated that the guidance will be issued ‘this summer’.
Housing associations should use this time to ensure that their asset registers are up to date and accurate and start thinking about the design of its eligibility and portability polices.
Our VRTB Conference on 7 June will give housing associations the opportunity to learn from the VRTB Pilot and also give practical tips on preparation for the VRTB.
Please contact Emma Holmes
Next in our series of ebriefings on the Government’s Green Paper: Transforming public procurement; looking at the Chapter 4 proposal to change the basis of contract awards.
The Academies Financial Handbook is updated annually by the Department for Education and the Education and Skills Funding Agency; it contains a number of governance requirements for academy trusts.
Supreme Court publishes key decision for those working in the UK’s gig economy.
The 'Chocolate Snowman Appeal' is an amazing initiative that Anthony Collins Solicitors' (ACS) employees take part in every year.
The Building Safety Bill (the Bill) is said to be the most significant and wide-ranging change to the regulatory environment for higher risk building (HRBs) for over 45 years.
On 4 November 2020, the Restriction of Public Exit Payments Regulations 2020 (the Regulations) came into force; exit payments for the public sector were capped at £95,000.
The case was brought by the Official Receiver who sought disqualification orders under section 6 of the Company Directors Disqualification Act 1986 (CDDA 1986) against the seven trustees of Kids Company and its CEO. It illustrates well the tension between the role of a fulltime paid CEO of a large charity and the role of its board as voluntary trustees/directors.
At the end of 2020, The Charity Governance Code was updated or 'refreshed' as it is termed on its website.
Anthony Collins Solicitors is today (Thursday 11 February) revealing the scale of its social impact during 2020.
In their first podcast of this series, current and future trainees will discuss their journey and route to securing a training contract at Anthony Collins Solicitors.
To receive invitations to our events, as well as information and articles on legal issues and sector developments that are of interest to you, please sign up to Newsroom.