Regulator consults on directing transfer of assets from Thistle Housing Association to Sanctuary Scotland
The Scottish Housing Regulator (SHR) will consult on directing a transfer of all assets from Thistle Housing Association to Sanctuary Scotland Housing Association.
Thistle held an independent ballot of tenants on its proposal for a voluntary transfer to Sanctuary Scotland, which closed on 2nd November. The majority (70%) of tenants voted in the ballot, with 92% of those voting yes.
Despite the positive ballot result, Thistle’s management committee were concerned that there may be a significant delay to the transfer which could put delivery of the transfer in jeopardy and create a serious risk to the interests of Thistle’s tenants and factored owners.
As a result, Thistle asked the SHR to consider using its statutory power under section 67 of the Housing (Scotland) Act 2010 to direct the transfer of all of Thistle’s assets to Sanctuary Scotland. Under section 67 the Regulator can direct a transfer, if certain conditions are met. After making inquiries, the Regulator considers that these conditions are met.
Ian Brennan, director of regulation at the SHR, said: “We are required by section 67 to consult with tenants, secured creditors and the Office of the Scottish Charity Regulator prior to directing a transfer. We have decided to include Thistle’s factored owners in the consultation. We have appointed Tenants Information Service to assist with the tenant and factored owner element of the consultation. We have written to Thistle’s tenants and factored owners today to provide more information about this.
“We will take account of the views of all consultees when we consider whether to direct a transfer of all of Thistle’s assets to Sanctuary Scotland.”
The regulator has updated its engagement plan to reflect this decision.