Dáil Éireann Debate, Tuesday - 8 September 2020
885. Deputy Jim O'Callaghan asked the Minister for Justice if consideration will be given to amending section 14 of the Multi-Unit Developments Act 2011 in order that one dominant owner of units within a development does not secure complete control of the management company to the detriment of the interests of other owners. [21507/20]
Amharc ar fhreagraI intend to commence a review of legislation regarding management companies in the coming months.
The 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.
