Regulation of Approved Housing Bodies (AHBs)
AHBs are subject to regulation under various codes including the Companies Acts, Charities Act and the Industrial and Provident Societies Acts.
In July, 2013 the Department published a guidance document, Building for the Future - A Voluntary Regulation Code for Approved Housing Bodies in Ireland. This Code is a stepping stone to a legally binding statutory regulatory framework.
The Code sets out key governance, management, measurement and financial principles that will apply to all AHBs to some extent, depending on the size, scope, risk-level etc. of the individual AHB.
The voluntary code is underpinned by three guiding principles:
- Proportionality –Depending on the size, scale and development plans of the individual AHB, more or less regulation may apply;
- Accountability – AHBs should be accountable for the services they provide, both to their tenants and to funders;
- Transparency - the process of sign up to the voluntary code is clear and consistent. For AHBs with good corporate governance already in place, the code should not require substantial additional work.
How do I sign up to the Code?
All AHB’s are required to sign up to the Code by completing the Charter of Commitments. The Code will assist housing bodies to improve their governance, management and financial capabilities and will facilitate better oversight of the AHB sector.
All correspondence relating to the Code, including signed Charters of Commitments should be directed to the Housing Agency at the contact details provided below:
53 Mount Street Upper
Government has approved the drafting of a Bill that would establish an independent Regulator for the sector.