Dáil Éireann Debate, Tuesday - 15 December 2020
451. Deputy Louise O'Reilly asked the Minister for Justice the way in which property management companies are regulated; the provisions that exist for their effective regulation; and her plans to introduce further and stronger provisions for the regulation of property management companies. [43250/20]
View answerThe Multi-Unit Developments Act 2011 was enacted with the primary purposes of reforming the law relating to the ownership and management of common areas of multi-unit developments and facilitating the fair, efficient and effective management of owners' management companies (OMCs). These are companies registered under the Companies Acts, the members of which are the owners of residential units within the development and which are established for the purposes of ownership and management of the common areas.
Statutory provisions governing the regulation of companies, including those governing the memorandum and articles of association, the appointment and responsibilities of directors and requirements for submitting annual financial returns, are set out in the Companies Acts.
The Government has committed in the Programme for Government to conduct a review of the existing management company legislation.
