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Change 1
As published
1 Meaning of “housing association” and related expressions.
(1) In this Act “housing association” means a society, body of trustees or company—
(a) which is established for the purpose of, or amongst whose objects or powers are included those of, providing, constructing, improving or managing, or facilitating or encouraging the construction or improvement of, housing accommodation, and
(b) which does not trade for profit or whose constitution or rules prohibit the issue of capital with interest or dividend exceeding such rate as may be prescribed by the Treasury, whether with or without differentiation as between share and loan capital ;
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) In this Act “fully mutual”, in relation to a housing association, means that the rules of the association—
(a) restrict membership to persons who are tenants or prospective tenants of the association, and
(b) preclude the granting or assignment of tenancies to persons other than members;
and “co-operative housing association” means a fully mutual housing association which is a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 (in this part referred to as “the 1965 Act”).
(3) In this Act “self-build society” means a housing association whose object is to provide, for sale to, or occupation by, its members, dwellings built or improved principally with the use of its members’ own labour.
Your change, as a redline
1 Meaning of “housing association” and related expressions.
(1) In this Act “housing association” means a society, body of trustees or company—
(a) which is established for the purpose of, or amongst whose objects or powers are included those of, providing, constructing, improving or managing, or facilitating or encouraging the construction or improvement of, housing accommodation, and
(b) which does not trade for profit or whose constitution or rules prohibit the issue of capital with interest or dividend exceeding such rate as may be prescribed by the Treasury, whether with or without differentiation as between share and loan capital ;
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) In this Act “fully mutual”, in relation to a housing association, means that the rules of the association—
(a) restrict membership to persons who are tenants or prospective tenants of the association, and
(b) preclude the granting or assignment of tenancies to persons other than members;
and “co-operative housing association” means a fully mutual housing association which is a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 (in this part referred to as “the 1965 Act”).
(3) In this Act “self-build society” means a housing association whose object is to provide, for sale to, or occupation by, its members, dwellings built or improved principally with the use of its members’ own labour.
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