Part 5Regulatory intervention
Registered social landlords: removal, suspension and appointment of officers etc.
62Removal of officers etc. following inquiries
1
The Regulator may remove a responsible individual where, having made inquiries, it considers—
a
that there has been misconduct or mismanagement in a registered social landlord’s financial or other affairs,
b
that the interests of a registered social landlord’s tenants need protection,
c
that a registered social landlord’s assets need protection, or
d
that the responsible individual—
i
is, during a moratorium under section 75, obstructing the Regulator from performing its functions under Part 7, or
ii
is not co-operating in accordance with section 84(2).
2
Before removing a responsible individual, the Regulator must give at least 14 days’ notice of its intention to do so to—
a
the responsible individual, and
b
the registered social landlord.
3
It is an offence for a removed individual to take any action in relation to the management or control of—
a
the registered social landlord concerned, or
b
any other registered social landlord,
without the Regulator’s consent.
4
An individual guilty of such an offence is liable, on summary conviction, to—
a
imprisonment for a term not exceeding 3 months,
b
a fine not exceeding level 5 on the standard scale, or
c
both.