Valid from 30/09/2003
73 RTM companiesE+W
(1)This section specifies what is a RTM company.
(2)A company is a RTM company in relation to premises if—
(a)it is a private company limited by guarantee, and
(b)its memorandum of association states that its object, or one of its objects, is the acquisition and exercise of the right to manage the premises.
(3)But a company is not a RTM company if it is a commonhold association (within the meaning of Part 1).
(4)And a company is not a RTM company in relation to premises if another company is already a RTM company in relation to the premises or to any premises containing or contained in the premises.
(5)If the freehold of any premises is conveyed or transferred to a company which is a RTM company in relation to the premises, or any premises containing or contained in the premises, it ceases to be a RTM company when the conveyance or transfer is executed.
Commencement Information
I1S. 73 wholly in force at 30.3.2004; s. 73 not in force at Royal Assent see s. 181(1); s. 73 wholly in force at 30.9.2003 for E. by S.I. 2003/1986, art. 2(a); s. 73 wholly in force at 30.3.2004 for W. by S.I. 2004/669, art. 2(a)