Commonhold and Leasehold Reform Act 2002

74 RTM companies: membership and regulations E+W

(1) The persons who are entitled to be members of a company which is a RTM company in relation to premises are—

(a) qualifying tenants of flats contained in the premises, and

(b) from the date on which it acquires the right to manage (referred to in this Chapter as the “acquisition date”), landlords under leases of the whole or any part of the premises.

(2) The appropriate national authority shall make regulations about the content and form of the memorandum of association and articles of association of RTM companies.

(3) A RTM company may adopt provisions of the regulations for its memorandum or articles.

(4) The regulations may include provision which is to have effect for a RTM company whether or not it is adopted by the company.

(5) A provision of the memorandum or articles of a RTM company has no effect to the extent that it is inconsistent with the regulations.

(6) The regulations have effect in relation to a memorandum or articles—

(a) irrespective of the date of the memorandum or articles, but

(b) subject to any transitional provisions of the regulations.

(7) The following provisions of the Companies Act 1985 (c. 6) do not apply to a RTM company—

(a) sections 2(7) and 3 (memorandum), and

(b) section 8 (articles).

Annotations:

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Commencement Information

I1 S. 74 partly in force; s. 74 not in force at Royal Assent, see s. 181(1); s. 74 in force for specified purposes at 26.7.2002 for E. by S.I. 2002/1912, art. 2(c); s. 74 in force for specified purposes at 1.1.2003 for W. by S.I. 2002/3012, art. 2(c)