Part 2Leasehold reform
C1Chapter 1Right to manage
Supplementary
I1105 Cessation of management
1
This section makes provision about the circumstances in which, after a RTM company has acquired the right to manage any premises, that right ceases to be exercisable by it.
2
Provision may be made by an agreement made between—
a
the RTM company, and
b
each person who is landlord under a lease of the whole or any part of the premises,
for the right to manage the premises to cease to be exercisable by the RTM company.
3
The right to manage the premises ceases to be exercisable by the RTM company if—
a
b
a receiver or a manager of the RTM company’s undertaking is duly appointed, or possession is taken, by or on behalf of the holders of any debentures secured by a floating charge, of any property of the RTM company comprised in or subject to the charge,
c
a voluntary arrangement proposed in the case of the RTM company for the purposes of Part 1 of the Insolvency Act 1986 (c. 45) is approved under that Part of that Act, or
d
the RTM company’s name is struck off the register under F3section 1000, 1001 or 1003 of the Companies Act 2006.
4
The right to manage the premises ceases to be exercisable by the RTM company if a manager appointed under Part 2 of the 1987 Act to act in relation to the premises, or any premises containing or contained in the premises, begins so to act or an order under that Part of that Act that the right to manage the premises is to cease to be exercisable by the RTM company takes effect.
5
The right to manage the premises ceases to be exercisable by the RTM company if it ceases to be a RTM company in relation to the premises.
Pt. 2 Ch. 1: power to amend conferred (20.1.2007 for specified purposes, otherwise 1.10.2009) by Companies Act 2006 (c. 46), ss. 1181(1)(b), 1300(2); S.I. 2006/3428, art. 3(3) (with arts. 5, 6, 8, Schs. 1, 5); S.I. 2008/2860, art. 3(v) (with arts. 5, 7, 8, Sch. 2)