Q
Where do i get a copy of the "Memorandum and Articles of the Company". Would the CRO hold a copy of them?
Personally I can see a clear conflict of interest here, where the managing agent, a contractor to or an employee of the management company, becomes a director of the employing company. Who now is in charge? Who supervises and validates actions? Who audits value for money budgets or negotiates contracts in the best interests of the property owners? Who makes disbursements and dictates financial policy?... Can an apartment complex company appoint directors from outside the ownership pool of the apartments owners, for example the agent. ...
Assuming (big assumption by the way) "normal" memo & articles, joint owners of a single property only have one vote, there fore only one can attend an AGM / EGM, therefore AFAIK only one can be nominated and elected. But perhaps it begs the question: will two directors from the same household act in the best interests of the property owners collectively?... One house is interested in taking over the two directorships and I wanted to find out if two people owning the same share of the management company can become acting directors?
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