GUIDANCE ON COMPLETING FORM RPCON

Document Sample
GUIDANCE ON COMPLETING FORM RPCON Powered By Docstoc
					GUIDANCE ON COMPLETING FORM RPCON 1
22 June 2011

Please refer to the Regulator's publication Disposing of Land on
www.tenantservicesauthority.org for guidance on when to use this form.

Definitions

These are the definitions used in the general consent, and they should cover most
charges. If the proposed charge does not fit one or more of these definitions,
explain at item 9 on form RPCON 1 how it differs.

‘Private Finance Facilities’ means arrangements for any of (i) lending money,
including term loan, standby loan, revolving loan or any other lending facilities and
including overdraft facilities and unsecured facilities; and (ii) interest rate hedging
including arrangements embedded within loan agreements or those
documented separately; and (iii) the provision of other facilities, including loan
notes, loan stock, performance bonds, guarantees, indemnities and letters of credit
to the extent the same relate to arrangements within (i) (ii) or (iv) and (iv) issuance
of loan notes, loan stock and bonds.

‘Private Finance Provider’ means each person or persons (and any transferee or
assignee of any such person) providing Private Finance Facilities including each
original and new lender under a loan facility and any arranger, agent, trustee,
security agent or security trustee acting on behalf of such person or persons (and
any replacement or successor arranger, agent, trustee, security agent or security
trustee) together with each beneficiary at any time under any such agency or trustee
arrangements.

‘Security Interest’ means any mortgage, pledge, lien, charge, security assignment,
hypothecation or other legal or equitable security interest or any other agreement or
arrangement having the effect of conferring security (including, for the avoidance of
doubt, a floating charge) or any other type of preferential arrangement having a
similar effect and includes a Security Interest created over the benefit of another
Security Interest.

Take a copy and post the application, including the annex, to TSA, the Social
Housing Regulator, 4th Floor, One Piccadilly Gardens, Manchester M1 1RG. It will be
checked, signed, and (if approved) returned to you as the formal consent. Form
RPCON 1 may not be submitted as a scanned document.


Guidance on individual items in the application

      Where more than one social housing dwelling is being secured, providers may
       send a schedule rather than making separate applications. The Regulator
       prefers the schedule to cover only that part of the security which is social
       housing dwellings. However, if it is difficult to separate out the social housing
       dwellings from the rest, contact the Regulator. One copy of the schedule
       should be sent, on numbered pages, listing in full the security being offered

      It is the applicant’s responsibility, for purposes of land registration, to ensure
       that it has good title to all the social housing dwellings included in the
       schedule, especially if they were acquired through transfer or merger.

      This is the body to which the social housing dwelling will be charged.

      If the body who will provide finance is different from the one to which the
       land is charged (e.g. under security trust arrangements), make a note under
       this item.

      This means the total and maximum loan facility made available by the private
       finance provider. If this is not yet decided, indicate how much is anticipated.

      Part 2 – Detailed information about the Private Finance Facility

          A1 For the type of loan, enter development/long-term financing/overdraft
           facility.
          A2 For terms of loan, enter repayment/index linked/bond
           issue/repayment etc.
          A7 For a revised consent, at question 8 of the form itself the number and
           date of the original consent.
          A8 If seeking consent to a fixed charge when a floating charge is already
           in place, show at question 8 of the form itself the number and date of the
           consent already issued for the floating charge. Due to the wide range of
           activities undertaken by providers, the Regulator may seek additional
           information. Please do not regard the above as a comprehensive or final
           list of requirements.

Certification in Part 4.
        Here an authorised signatory certifies that the private registered provider has
        complied with the conditions and, where future and ongoing compliance is
        indicated, will continue to comply. Failure to complete these boxes may
        delay the consent. If any matter prevents a signatory from completing this or
        complying with a condition, please give details in an accompanying letter.
        The terms used for describing private finance here and in the consent are as
        used and interpreted in the Regulator’s General Consent 2010.

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:3
posted:10/11/2011
language:English
pages:2