Article 2 Interpretation

In this Order—

• “1965 Act society” means an association which is registered under the Industrial and Provident Societies Act 1965^f1;

• “accounts” mean the balance sheet, income and expenditure account and notes to the accounts and, if applicable, the cash-flow statement and statement of recognised gains and losses;

• “association” means a housing association which is registered in the register maintained by Housing for Wales under the Housing Associations Act 1985;

• “balance sheet” means the balance sheet required for the purposes of section 39(1) of the Industrial and Provident Societies Act 1965^f2;

• “balance sheet date” means the date as at which the balance sheet was made up;

• “chief executive” means the person who has overall responsibility for the running of the day to day affairs of the association;

• “company” means a company registered under Part I of the Companies Act 1985^f3 and includes a company to which that Part applies by virtue of section 675 of that Act;

• “director” includes the chief executive and any member of the managing body of the association;

• “group” has the same meaning as in section 262(1) of the Companies Act 1985^f4;

• “housing accommodation” means dwellings, houses in multiple occupation and hostels;

• “income and expenditure account” means the revenue account required for the purposes of section 3(2) of the Friendly and Industrial and Provident Societies Act 1968^f5;

• “long lease” means a lease the unexpired term of which at the balance sheet date is not less than 50 years;

• “managing body” means—

  1. (a)

     in relation to a 1965 Act society, the committee of management or other directing body of the society;

  2. (b)

     in relation to a company the board of directors of the company;

  3. (c)

     in relation to a charity which is not a company, the trustees of the charity;

• “notes to the accounts” means notes to the balance sheet or the income and expenditure account;

• “period of account” means the period to which the income and expenditure account relates;

• “special needs accommodation” means accommodation which is provided for persons who are vulnerable by virtue of social disadvantage, disability or other special reason, or a hostel;

• “unit of accommodation” means in the case of special needs accommodation; accommodation of one individual and in the case of any other, one dwelling;

• “undertaking” has the same meaning as in section 259 of the Companies Act 1985^f6.