Arthur Morgan
Ceist:130 Mr. Morgan asked the Minister for Enterprise, Trade and Employment if he intends to introduce legislation to regulate property management companies (details supplied). [32278/05]
Amharc ar fhreagraThursday, 3 November 2005
Ceisteanna (131)
Freagraí scríofa
My sole departmental responsibility with regard to property management companies arises in the context of company law. Property management companies are generally constituted as companies limited by guarantee under the Companies Acts and are required to comply with the relevant provisions of company law.
The operation of such companies under their relevant memorandum and articles of association is a matter for determination by the company members, who are the owners of the properties in question. If a member or creditor of such a company believes a company law offence has been committed, he or she should complain to the Director of Corporate Enforcement.
The impact of legal provisions other than company law, for example contract law, on property management companies is not within my policy remit. Aggrieved members or creditors in these cases must take the civil or criminal law route appropriate to the legal provisions at issue. A major simplification of company law, including simplification of the law applying to guarantee companies, is well in train and I hope to bring proposals to Government to draft the general scheme of this Bill early in 2006.