The Bill provides for the regulation of Approved Housing Bodies (AHBs), ensuring proper governance and assuring tenants, the public and investors the sector is well regulated.
It will also drive forward the establishment of the independent Approved Housing Bodies Regulatory Authority (the Regulator).
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Welcoming the government's decision, Housing Minister Eoghan Murphy said: "Housing Bodies are playing a critical role in providing social housing in tandem with local authorities. It's part of our new and more sustainable approach to social house building. We are no longer vulnerable to one source for housing delivery, like we were in the past. Housing bodies receive significant taxpayer funding, work with local authorities, and take people off the housing list and out of homelessness. Because of this it's important that there is an independent and legally established regulator for the sector. This legislation will provide for that, and a lot more."
(CM/JG)
