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legal obligation for accounts and minutes
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I live in a modest flat and pay my maintenance every half year to the Ltd management company.
I have not received accounts or AGM minutes for the last 2 years.
The freeholders have now gone into administration and I am concerned about the running of the estate.
Is there a legal obligation to supply to me accounts and minutes?
The Management Co. is not responding to my requests for the above, is there a legal obligation via the directors of the Management Co to supply these items?
I have not received accounts or AGM minutes for the last 2 years.
The freeholders have now gone into administration and I am concerned about the running of the estate.
Is there a legal obligation to supply to me accounts and minutes?
The Management Co. is not responding to my requests for the above, is there a legal obligation via the directors of the Management Co to supply these items?
Answers
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No best answer has yet been selected by Suetheramble. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.The Management Company is rubbish - run by the owners but the freeholders can dismiss them but there is no freeholder at the moment so I am concerned there is no control. My first problem is I would like the accounts to see how my money is being spent. Am I legally entitled to be sent the accounts and minutes?
There's no legal requirement to even hold an AGM never mind provide you with minutes of it. So no, unless the Articles of Association say something different to override general company law, they are not required to send you minutes.
They are however required to send accounts to shareholders annually and are in breach of the Companies Act if they haven't done so. Check Companies House website and see if they've filed accounts which you don't have. If so complain and ask again for a set. If not then they will be in breach at Companies House too and probably about to be struck off.
They are however required to send accounts to shareholders annually and are in breach of the Companies Act if they haven't done so. Check Companies House website and see if they've filed accounts which you don't have. If so complain and ask again for a set. If not then they will be in breach at Companies House too and probably about to be struck off.
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