Residents’ management companies (often shortened to RMCs) and RTM companies are subject to the same rules and regulations as other private limited companies in England and Wales. This means they’re bound by their memorandum and articles of association, together with the Companies Act 2006.
Company records and registers
There are strict requirements in relation to records and record keeping,
There’s also strict requirements in relation to registers.
Deviation can result in the commission of a criminal offence.
We can help guide you through records and registers that every management company should be keeping.
Fit for purpose?
Each company has its own memorandum and articles of association (often abbreviated to Mem&Arts).
How a company is run is governed by its articles.
We can help whether you’re looking to modernise your articles (perhaps enabling virtual or hybrid meetings), or completely overhaul them.
We can deal with the drafting, and then arrange for the Companies House filing.
Beware: criminal offences!
The Companies Act 2006 is littered with a range of criminal offences. The company and every officer of the company in default are likely to commit these offences. In addition, they’re often punishable by a fine, together with a daily default fine.
Examples of criminal offences include:
- failing to keep a register of members and their particulars
- failing to file a special resolution with the Registrar
- refusing to allow inspection of register of members
- failing to properly keep register of directors
- fraudulent trading
It’s important that RMC and RTM companies (and managing agents acting on their behalf) understand the requirements set down by the Companies Act and avoid committing criminal offences.
Facing challenges from members?
Members of a limited company have certain rights. And we’re witnessing an increase in members exercising those rights.
Often, ignoring those rights also amounts to the commission of a criminal offence.
So whether you’re facing a request to inspect the register of members, or on the receiving end of a members’ requisition to call a general meeting, we’re on hand to assist.
Our CEO, Cassandra Zanelli, represented the appellant in proceedings before the Court of Appeal in the summer of 2020 (relating to proper purpose under section 116 of the Companies Act).
Cassandra also presents various training courses on company law matters, including training courses for ARMA.
Instructing us means that you’ll have the experts on your side.