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73RTM companies

(1)    This section specifies what is a RTM company.

(2)    A company is a RTM company in relation to premises if—

(a)    it is a private company limited by guarantee, and

(b)    its memorandum of association states that its object, or one of its objects, is the acquisition and exercise of the right to manage the premises.

(3)    But a company is not a RTM company if it is a commonhold association (within the meaning of Part 1).

(4)    And a company is not a RTM company in relation to premises if another company is already a RTM company in relation to the premises or to any premises containing or contained in the premises.

(5)    If the freehold of any premises is conveyed or transferred to a company which is a RTM company in relation to the premises, or any premises containing or contained in the premises, it ceases to be a RTM company when the conveyance or transfer is executed.

NOTES
Initial Commencement
To be appointed

To be appointed: see s 181(1).
Company's Constitution94 Company Law & Business Entities94 Companies & Corporate Bodies94 Leasehold Enfranchisement94 Commonhold99 Real Property Law99 Landlord & Tenant99 Leasehold Interests94

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