Section 73 of the Commonhold and Leasehold Reform Act 2002 explains when a company will be regarded as a right to manage (RTM) company. At issue before the Upper Tribunal (Lands Chamber) in Fairhold Mercury Ltd v HQ (Block 1) Action Management Company Ltd [2013] UKUT 487 (LC) was whether a company with the name 'HQ (Block 1) Action Management Company Limited' and meeting the requirements of section 73 was an RTM company where the letters 'RTM' were missing from its name. The Tribunal held that it could be regarded as an RTM company and rejected the argument that there was an overarching rule of public policy on the names of companies, supplementing the relevant statutory provisions, which if broken altered the status of a company.
Thursday, 10 October 2013
UK: Company was a 'right to manage' company even though the letters 'RTM' were missing from its name
Section 73 of the Commonhold and Leasehold Reform Act 2002 explains when a company will be regarded as a right to manage (RTM) company. At issue before the Upper Tribunal (Lands Chamber) in Fairhold Mercury Ltd v HQ (Block 1) Action Management Company Ltd [2013] UKUT 487 (LC) was whether a company with the name 'HQ (Block 1) Action Management Company Limited' and meeting the requirements of section 73 was an RTM company where the letters 'RTM' were missing from its name. The Tribunal held that it could be regarded as an RTM company and rejected the argument that there was an overarching rule of public policy on the names of companies, supplementing the relevant statutory provisions, which if broken altered the status of a company.
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