Sch 1 para 27
(1) Where as a result of an inquiry under paragraph 20 or an audit under paragraph 22 the Relevant Authority is satisfied as regards a registered social landlord— (a) that it has failed to comply with a requirement imposed by or under an enactment, and (b) that the management of its land would be improved if its land were transferred in accordance with the provisions of this paragraph, the Relevant Authority may, . . . direct the registered social landlord to make such a transfer . ... (2) Where the registered social landlord concerned is a charity, the Relevant Authority may only direct a transfer to be made to another registered social landlord— (a) which is also a charity, and (b) the objects of which appear to the Relevant Authority to be, as nearly as practicable, akin to those of the registered social landlord concerned. (3) In any other case the Relevant Authority may direct a transfer to be made to the Relevant Authority or to another registered social landlord. (4) The transfer shall be on such terms as the Relevant Authority may direct on the basis of principles determined by it. ... (5) The price shall not be less than the amount certified by the district valuer to be the amount the property would command if sold by a willing seller to another registered social landlord. (6) The terms shall include provision as to the payment of debts and liabilities (including debts and liabilities secured on the land).