Changing Regulations – We’d like your views!
Magenta Living has a long history of working in partnership with customers and we believe we are more than just a landlord, as we work alongside our customers and partners to help create communities where people can thrive. We are still committed to these partnerships with customers which have seen us invest heavily in properties and create social value as we respond to changes and maximise our impact in our neighbourhoods.
The Housing and Planning Act 2016 introduced some regulations which the Government put into place in November last year that affect Magenta Living. The Regulation of Social Housing (Influence of Local Authorities) (England) Regulations 2017, will take effect on 16 May 2018, and will require changes to Council nominations to Boards of Housing Associations and consequently changes to the Company Membership of Magenta Living.
What do the new regulations mean for Magenta Living?
- We must change our Constitution
- Our board no longer has Council nominees – everyone is there on their own merits, assessed against the skills the organisation requires
- Our Company membership will have to change
- Council’s can no longer have a share – in Magenta Living’s case currently Wirral Council has one-third of the votes (Tenant Company members have one-third and Independent Company members have one-third)
- We are considering a proposal to move to a closed membership for Magenta Living where its company members are the Board
However, to ensure there is still a governance link between the Board and the communities we operate in, we have Magenta Communities.
Magenta Communities
Magenta Communities is currently the brand we have developed to create social value within our neighbourhoods.
In the future we want Magenta Communities to:
- Be a focal point for all of our community investment
- Look to maximise external funding to bring into our neighbourhoods
- Give existing Company Members and potentially new people a role within Magenta Living’s continuing governance structure where they can still have a real influence
- Develop the best structure to maximise the level of social value created
We’d like your views?
Click here to see the Magenta Communities document and please complete a short online survey by clicking this link to give us your views. Alternatively, call us on 0800 100 9596 and ask for the communications team who will be able to assist you complete the survey. At times of high call volumes (for instance during inclement weather) please call 0151 606 3094 and leave a message with your name and number and one of the team will call you back to assist you complete the survey.
