Regulator extends Muirhouse Housing Association intervention
The Scottish Housing Regulator has announced it is extending the statutory appointment of a manager to Muirhouse Housing Association for a further six months.
It is also extending the statutory appointment of three members to Muirhouse’s governing body.
The regulator had identified serious and urgent risk to the financial health of Muirhouse and serious weaknesses in its governance and financial management in December 2014. It used its statutory powers to appoint a manager and to make three statutory appointments to the governing body.
Since December, Muirhouse has taken steps to address the immediate risks it faced and is now developing plans to strengthen its governance and financial management to address the serious weaknesses it faces.
Ian Brennan, director of finance and risk, said: “The action taken has dealt with the immediate issues which led to the statutory appointments being made in December 2014.
“During the next six months, the manager and appointees to the governing body will work with Muirhouse to help it address the underlying causes so that it is able to comply with our Regulatory Standards of Governance and Financial Management.”
The regulator has extended the appointment until December 2015.
It has published a revised regulation plan which sets out how it will work with Muirhouse to resolve the issues.