The Regulator made the statutory appointments in February after it identified “serious weaknesses in governance and financial management” and failures to comply with Regulatory Standards. According to the Regulator, the action was necessary to “protect tenants’ interests, public and private funders’ confidence and the reputation of registered social landlords”.

Since February, Ferguslie Park has taken steps to address the immediate risks it faced. The Association is working to deliver improvements to strengthen its governance and financial management to address the weaknesses.

An updated regulation plan, which describes how the Regulator will work with Ferguslie Park to resolve the issues, said the Association has carried out a wider review of its governance, financial management processes and procedures and internal controls.

“While Ferguslie Park has made good progress in identifying its issues, the full remit we set for the appointed manager has still to complete,” it said.

Christine Macleod, director of governance and performance, said: “Ferguslie Park is working constructively with us to address the serious issues it faced. Continuing these statutory appointments is the most proportionate way to ensure the Association has the support it needs to complete the necessary improvements to protect the interests of its tenants and service users.”

The appointment of the statutory manager will be reviewed in March 2017 and the appointment of the governing body members will be reviewed in August 2017.