The Voluntary Regulation Code (The Code) for Approved Housing Bodies in Ireland was launched in July 2013.

The Code provides a framework for AHBs to prepare for statutory regulation in the future . The Voluntary Regulatory Framework will:

  • assist AHBs to improve their governance, management and financial capabilities, and
  • provide oversight of the sector.

The Code will be strengthened and enhanced over time and work is currently underway on the development of financial aspects of regulation, in consultation with the sector.

The Code currently sets out the:

  • Background and context to Regulation;
  • Guiding principles supporting the Regulatory Framework, including proportionality, accountability and transparency;
  • Organisational classifications: these are defined having regard to the level of risk within an organisation, i.e. Tier 1, Tier 2, Tier 3;
  • Charter of Commitments, which must be signed by the AHB Chairperson and Secretary to the Board, confirming commitment to comply with the Code, or in the event the organisation does not comply, allows for the provision of an explanation;
  • Expectations, evidence and measurements required by the Regulator from AHBs, including the requirement to submit a Return on an annual basis to the Regulation Office for assessment; and
  • Existing supports and resources in place for the sector.