Sch 7 para 2
(1) The Regulator of Social Housing may ... give the association directions with respect to the disposal of land belonging to the association in which the Regulator of Social Housing has an interest as mortgagee under a mortgage, or as creditor in a heritable security, entered into by the association to secure the loan. (2) Directions so given may be varied or revoked by subsequent directions ... . (3) The written consent of the Secretary of State is required for the giving, varying or revoking of directions by the Regulator of Social Housing .