The plans to review the role of the Office of the Director of Corporate Enforcement in supervising management owner companies

QUESTION

To ask the Minister for Business; Enterprise and Innovation her plans to review the role of the Office of the Director of Corporate Enforcement in supervising management owner companies; the number of staff reviewing such companies; and if she will make a statement on the matter.

REPLY

The Department of Business, Enterprise and Innovation has no role in the supervision of management ownership companies.
The primary role of the ODCE is to ensure that company law is being respected.
There is no special body of company law which applies only to management companies or is applied differently so far as management companies are concerned.
The legal source from which management companies derive their operational and functional role is set out in the title deeds of the property as well as the contract of purchase of the property.  The fact that the intended functions of a management company have their roots in the title deeds is one from which an important legal consequence flows.  They do not flow from the company law relationship that exists between the management company and its members.
The Department of Justice has responsibility for the Multi-Unit Development Act 2011.