We have recently received the following question by 1 of our members and we are wondering if anybody can help?
We’ve just had a Board discussion about what, if any are the implications for HA Boards of the Companies Act (2006) that came into effect on 1st October last year.
We think that, assuming the Board is acting in compliance with best practice on governance, there is no real implication – but others may have read this differently. Have you had any information on this, and if not, could you post my query on the message board for others to contact me, particularly if they have concluded that there is no implication, or if they have done something specific in order to ensure compliance?
If you can offer any help please leave a comment.
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2 comments:
On the National Housing Federation there is a set of slides from the NHF Board Members' Conference:
https://www.housing.org.uk/Uploads/File/Conferences/BM%20Presentation/P2%20-%20Mike%20Gaskell.pdf
Making sense of slides when you weren't there (or it was just two months ago) can be challenging.
My understanding is that many of the new requirements are not yet extended to Industrial and Provident Societies. (But I am not a lawyer!)
You may also find this note useful from BTO Solicitors :
http://www.bto.co.uk/articles/shu_articles_51.htm
Although the article is by a Scottish law firm, it holds some interest points of law e.g. that even the Companies Act applies to companies, it is likely that the statutory duties will also apply to Industrial and Provident Societies (IPSs) i.e. most housing associations.
This is one area where I am trying to understand what my responsibilities are with regards to the legislative framework and it appears a bit confusing at present.
I did attend the presentation by Mike Gaskell (Trowers & Hamlins) at the National Board Members COnference and I didn't see a huge problem for board members with the Companies Act 2006 from that presentation.
Regards...Haydn.
Solas Board Member.
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