TNAG-2378-FCO40-3457-Hong-Kong-nationality-British-Nationality-(Hong-Kong)-Act-19-1991 — Page 29

Flat Management and Similar Companies

C

Flat Management and Similar Companies

C

WHAT RESPONSIBILITIES?

Every company has responsibilities. The fact that it

isn't a business does not make any difference.

A company must have -

*

at least one director. But if the secretary is

also a director the company must then have at

least two directors.

* a secretary.

*

a place where it can be contacted (its

registered office) with its name outside.

Any change in the directors or secretary must be notified to the Registrar of Companies within 14 days of it happening. The registered office is not changed until the Registrar has been notified of the change and registers it.

The directors manage the company on behalf of the

members. They are responsible for holding

meetings and ensuring all necessary returns,

accounts, and notices are sent to the Registrar when

due. The Registrar keeps these documents (along with

those relating to a million other companies) and makes

them available to anybody who wants to see them.

2.

A member of a company is a person who has agreed to become a member and who is entered on its register of members. In the case of a company limited by shares this means a person who has bought or otherwise acquired a share in the company. In the case of a company limited by guarantee it means a person who has agreed to contribute to the assets of the company if it is wound up. In many cases it is a condition of the purchase of a flat that the purchaser shall become a member of the flat

management company or tenants' association. In some cases all the members are automatically also directors, which means that they have obligations as directors which can be enforced against them.

HOW DO I GET A SAY IN MY COMPANY?

As a general rule a company must hold at least one meeting of its members every year the annual general meeting. It may also hold other meetings.

·

At meetings the members elect and remove directors, pass various resolutions, and consider the accounts. They cannot, by the way, reject the accounts as these are the responsibility of the directors, and not of the members.

If all the members of the company agree that they do not wish to hold annual general meetings in future, they may pass a resolution to that effect. A copy of the resolution must be delivered to the Registrar of Companies.

If a company decides not to hold annual general meetings, this complicates the appointment of directors and makes it difficult for the members to discuss the company's affairs.

3.