Why we are engaging with Orkney Housing Association Ltd (Orkney)
We are engaging with Orkney about its development plans.
Orkney has plans to grow through a programme of new homes for social rent and will receive significant public subsidy to help achieve this.
What Orkney must do
Orkney must:
- send us an update on its development programme by 31 October 2025. This will include its latest report to the governing body/appropriate committee about development and details of the scale and tenure mix, timescales for delivery and any material delays or changes to the programme; and
- tell us if there are any material adverse changes to its development plans which might affect its financial position or reputation, in line with our notifiable events guidance.
What we will do
We will:
- review the development update and engage as necessary; and
- update our published engagement plan in the light of any material change to our planned engagement with Orkney.
Regulatory Returns
Orkney must provide us with the following annual regulatory returns and alert us to notifiable events as appropriate:
- Annual Assurance Statement;
- audited financial statements and external auditor’s management letter;
- loan portfolio return;
- five year financial projections; and
- Annual Return on the Charter.
It should also notify us of any material changes to its Annual Assurance Statement, and any tenant and resident safety matter which has been reported to or is being investigated by the Health and Safety Executive or reports from regulatory or statutory authorities or insurance providers, relating to safety concerns.