Change In Status For Northern Ireland Registered Housing Associations

ANALYSIS: The legal status of registered housing associations in Northern Ireland has changed this month following the entry into force of legislation intended to move the legal position for mutual societies in Northern Ireland closer to that in England and Wales.

The 2016 Credit Unions and Co-operative and Community Benefit Societies (Northern Ireland) Act (2016 Act) came into force on 6 April 2018. The 2016 Act replaced the existing 'industrial and provident society' legal form in Northern Ireland with two new legal forms, and transferred responsibility for registering mutual societies in Northern Ireland from the Department for the Economy (DfE) to the Financial Conduct Authority (FCA).

Existing mutual societies remain registered under the same legislation as before. They do not need to re-apply to the FCA, or to submit any application forms as a result of the transfer of responsibilities from the DfE to the FCA. However, from 6 April 2018, mutual societies must send any applications, annual returns and accounts that they previously submitted to the DfE to the FCA. This will include changes of registered office address, rules, transfers of engagements and any other application requiring registration under the previous legislation.

All current registered housing associations in Northern Ireland within the meaning of the 1992 Housing (Northern Ireland) Order were industrial and provident societies. This legal status no longer exists, and all Northern Irish industrial and provident societies which were established before 6 April 2018 are now referred to as 'pre-2016 Act societies' or 'registered societies'.

Note, however, that the regulator of social housing in Northern Ireland remains the Department for Communities acting through its Housing Regulation Branch.

The 2016 Act

The 2016 Act amended the 1969 Industrial and Provident Societies Act (Northern Ireland) and renamed it the Co-operative and Community Benefit Societies Act (Northern Ireland) (the 1969 Act).

The 'industrial and provident society' legal form has now been replaced with two new legal...