Ruchazie has been in statutory engagement since March 2018 when the Regulator used its statutory powers to appoint a manager and four members to Ruchazie’s governing body following an independent investigation on governance matters.

These appointments were extended in December last year, but “significant improvements to its governance and financial health” saw the statutory manager appointment end in July.

Now the Regulator has ended its statutory intervention altogether but will continue to engage with Ruchazie in the coming months to ensure improvements made are sustained.

In an updated engagement plan, the Regulator noted: “Ruchazie worked constructively with the statutory manager and appointees and has addressed the serious failures which led to our intervention. It had a governance improvement plan to help with this. As part of its improvement plan Ruchazierecruited five new members to the governing body, recruited a permanent senior officer, undertook a review of its staff structure, and improved its policies, procedures and internal controls.

“Ruchazie also carried out a strategic review of its options and decided to remain independent and collaborate with other organisations. Ruchazie now complies with the Regulatory Standards of Governance and Financial Management so we have therefore ended our statutory intervention.”

Speaking of the improvements at Ruchazie, Margaret Sharkey, assistant director of regulation, said: “Ruchazie has worked hard to make the necessary improvements. With the support of the statutory appointments Ruchazie has improved its governance and financial management and is now compliant with regulatory requirements. So we have ended our statutory appointments to the governing body.”

Responding to the announcement, Hugh Holland, chairperson of Ruchazie, told Scottish Housing News: “We welcome the confidence that SHR has shown in Ruchazie HA. It has been a long journey for everyone, and I would like to thank staff, committee, appointees and the statutory manager who have worked tirelessly throughout this challenging time.

“Ruchazie has the right blend of skills and knowledge on our committee, from the business and banking sector, along with community knowledge and dedication. We believe this will benefit the Association going forward, and tenants can be reassured that the issues which led to intervention, have been managed and resolved.

“Our new staff structure and our vision to collaborate with other organisations will support us to deliver the best service for our tenants.”