Section 168 Section 167: supplementalI1

(1)

This section applies to property transferred to the regulator in accordance with section 167(2)(a).

(2)

The regulator may dispose of the property only to a non-profit registered provider.

(3)

Where the registered provider wound up or dissolved was a charity, the regulator may dispose of the property only to a registered provider—

(a)

which is a charity, and

(b)

whose objects the regulator thinks are similar to those of the original charity.

(4)

If the property includes land subject to a mortgage or charge, the regulator may dispose of the land—

(a)

subject to that mortgage or charge, or

(b)

subject to a new mortgage or charge in favour of the regulator.

Annotations

C1: Pt. 2 modified (1.4.2012) by Localism Act 2011 (c. 20), s. 240(2), Sch. 16 para. 69(2); S.I. 2012/628, art. 6(i) (with arts. 9 11 14 15 17)