Moved by
Viscount Younger of Leckie
78F: Clause 93, page 40, line 25, leave out subsections (1) to (8) and insert—
“(1) A housing administrator has two objectives—
(a) Objective 1: normal administration (see section (Objective 1: normal administration)), and
(b) Objective 2: keeping social housing in the regulated sector (see section (Objective 2: keeping social housing in the regulated sector)).
(2) Objective 1 takes priority over Objective 2 (but the housing administrator must, so far as possible, work towards both objectives).
(3) It follows that, in pursuing Objective 2, the housing administrator must not do anything that would result in a worse distribution to creditors than would be the case if the administrator did not need to pursue Objective 2.
(4) A reference in this Chapter to the objectives of a housing administration is to the objectives to be pursued by the housing administrator.”