Cloch adopts new rules in next stage of separation
Cloch Housing Association held a virtual Special General Meeting of members on Thursday 17th December 2020 using Zoom.
Following an outstanding 95.5% favourable ballot to separate from their parent, Oak Tree HA, members voted to adopt a new set of rules in line with the recently published SFHA Model Rules and also to remove any parental or external control of Cloch HA.
Work will now continue in terms of registering new rules with the Financial Conduct Authority (FCA) and the Office of the Scottish Charity Regulator (OSCR), and also in shaping the shared service arrangements both RSLs will continue to operate for Finance and IT. The official date for separation will be 1st April 2021.
Both governing bodies of Cloch and Oak Tree have worked hard to ensure that they achieve the best possible outcome for both housing associations and their tenants.
Paul McVey, director of Cloch, added: “Carrying out a rigorous consultation exercise, holding a ballot and running the SGM, in this year of all years has been a big ask. However, it’s great to get to the end of the year in this position with so many positives to look forward to in 2021.
“Our tenants deserve huge credit for participating and showing their support and backing for Cloch. Of course, a huge thank you also goes to Oak Tree HA, TIS, TC Young and UK Engage for their vital role in the process.”