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Corporate Risks

As the Management Company is typically formalised as a Residential Management Company or a Right To Manage company, so the Directors must work within a defined structure and framework to ensure compliance.

Directors are responsible, just like any other company Director, to ensure that they act appropriately and govern the Company according to Company Law. Your primary actions are governed by the Memorandum & Articles of Association specific to your Company, and additionally you need to adhere to the standards of reporting and recording laid down by the various Companies Acts. These include:

  1. the process of appointing and resigning Directors
  2. the arrangements and organisation of an Annual General Meeting
  3. the creation and submission of audited Company Accounts
  4. the submission of an Annual Return

Failure to act appropriately can lead to the company being struck off, which results in losing control of the management of your property, incurring much cost and inconvenience to rectify the situation.

corporate risk formsThe Gateway solution provides Directors with all required forms, and a structured support framework within which to operate.

  1. For example, to appoint a new Director …. the form is available in the Property Document Store, and once completed is filed back into the Document Store. This triggers the back-office CoSec team to update Companies House records on your behalf. A new Director certificate is then sent to the Company Secretary
  2. The My Property back-office team will complete the Annual Return based on your provided information and file it on your behalf within the timescale allowed