The report sets out why the Regulator intervened and the action it took to safeguard the interests of tenants and service users.

The Regulator began to engage with the Association in 2017 following concerns about Ruchazie’s handling of the departure of its senior officer. During this engagement, the Regulator identified a number of serious failures in governance and financial management.

The Regulator used its statutory powers to appoint a manager and four members to the Association’s governing body in March 2018 and then ended its intervention in September 2020 after Ruchazie delivered substantial improvements to its governance and financial management.

Ruchazie was confirmed as compliant in March 2021.

Ian Brennan, director of regulation at the Regulator, said: “We are grateful to the statutory appointees for their support and commitment to help Ruchazie address the issues that led to intervention. Ruchazie worked hard to make the necessary improvements and completed its programme of improvements despite the challenges of the pandemic. Ruchazie put in place a strong governance and financial management framework and is focussed on delivering good outcomes for its tenants and service users.”

Hugh Holland, chairperson of Ruchazie, has acknowledged and thanked the statutory manager Paul Rydquist and the four appointees for their support in the successful outcome.

He said: “Everyone associated with Ruchazie Housing Association has worked tirelessly over the last three years to secure the future of the Association, whilst maintaining high standards of services to our tenants. The support of Paul Rydquist, appointed statutory manager and appointees to the committee has been invaluable in making real and lasting improvements in governance, performance and financial viability.

“The management committee and staff team continue to be committed to delivering excellent services and demonstrating good governance to our tenants and customers, and this has been evident throughout the last 18 months which have been challenging for all our colleagues in the social housing sector.”

Mr Holland added: “It has been a long journey but one that has resulted in a strengthened governing body with strong procedures in place for succession planning, a strong and positive business plan and a staff team who continue to be committed to delivering the services our tenants want and need. In the last 12 months, our progress has been recognised with Ruchazie being successful in achieving Silver Grade Accreditation in Investors in people and being awarded the Best Housing Team at the Chartered Institute of Housing Awards in Scotland. Both awards validate our commitment to our tenants and our staff. Ruchazie can now move forward to working with our tenants and partners in improving our tenants’ homes and community.”