The Multi-Unit Developments Act 2011 (MUD Act) 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). OMCs are companies registered under the Companies Acts, the members of which are the owners of residential units within the development, which are established for the purposes of ownership and management of such common areas.
The Programme for Government commits the Government to conduct a review of the existing management company legislation and my Department will engage with other relevant Departments in relation to taking the appropriate steps to advance this matter.
As outlined in the Government's Housing for All Plan, my Department is currently in the process of considering the development of regulations under the MUD Act (Section 18 (17) and Section 19 (9)) to ensure that OMCs are financially sustainable and to ensure that OMCs provide for expenditure of a non-recurring nature, for example sinking fund expenditure. My Department will also engage with other relevant Departments in relation to taking the appropriate steps to advance this matter.