On 18 December 2013 the Treasury published its response to its
consultation on reforms to the legislation relating to IPSs.
Amongst other organisations, housing associations are often
incorporated as IPSs. The government has decided:
- to apply the provisions of the Insolvency Act 1986 for company voluntary arrangements and administrations to IPSs, with relevant modifications;
- to apply provisions of the Companies Act to IPSs so that the FCA will have additional powers to investigate IPSs should their behaviour be deemed improper or unlawful.
The government plans to enact these proposals by Summer 2014.
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