RTM companies were introduced under the Common hold and Leasehold Reform Act 2002. These are private companies limited by guarantee enabling long leaseholders in blocks of flats to take over the management of their building.
Leaseholders must form a limited by Guarantee Company to exercise the management functions. Here also, this type of company needs a special and specific Memorandum and Articles of Association designed for this purpose.
(See Companies Limited by Guarantee)
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