Friday, 14 December 2018

UK: England and Wales: Law Commission consultation - reinvigorating commonhold

Earlier this week the Law Commission for England and Wales published a consultation paper setting out proposals for the reform of Commonhold, a form of property ownership created by the Commonhold and Leasehold Reform Act 2002. A copy of the consultation paper is available here (pdf). A summary is available here (pdf). A legislative history of commonhold is available here (pdf).

The Commission has - to focus on one part of its paper - endorsed the continued use of the UK company law framework for the commonhold association (see para 7.23).  In the Commission's view, the association should continue to be a company registered under the Companies Acts, with limited liability and taking the form of a company limited by guarantee (see para. 7.41). The Commission nevertheless seeks views, and makes proposals, regarding certain aspects of the company law framework including, for example, whether any company law requirements (e.g., filing accounts and making an annual confirmation statement) should be relaxed for commonhold associations.

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