Management Companies

01 What is a Management Company?

A so called "management company" is a company registered in the CRO usually as a Company limited by Guarantee (CLG) or a Designated Activity Company (DAC),  with an object clause to manage a multi-unit development. The "management company" owns the common areas of the development such as: car parks, green space, stairwells, lifts and communal hallways and maintains them for the benefit of all property owners and typically provides for insurance cover.

On acquiring a unit within the development, in addition to the apartment or house such person also shares ownership of the common areas. Stemming from this, it is usually a condition of the purchaser's contract that they sign a co-ownership agreement which obliged them to become a member of the management company.    These co-ownership agreements are essentially rooted in the laws of contract and private property,  rather than in any particular Act of the Oireachtas.  Following on from this, it should be clear that the requirement to become a member of a management company is not a requirement under company law. 

There is no special body of company law which applies only to so called "management companies" or is applied differently so far as management companies are concerned.  The "FAQ" (Frequently Asked Questions) section of this website answers most general company law type questions in relation to all companies.  Most of the issues arising in the so called "management companies" are not company law issues and the ODCE cannot assist.   The attached document lists the breaches of company law where ODCE can assist with.

02 Are management companies a product of company law?

No. It is important to stress that management companies have no special meaning and are in no way a requirement of company law. There is nothing in the Companies Act which states that a management company must be brought into existence in connection with any multi-unit development, and some multi-unit developments exist which do not have a management company associated with them. Furthermore, it is important to point out and emphasise that there is no special body of company law that applies solely to management companies.

03 Where can I find the legal source from which management companies operate?

Court Rulings

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Supreme Court Appeal struck out - ODCE vs. Mr. Frank Brennan

23 March 2015


Background:
On 20.06.2008 the High Court disqualified Mr. Frank Brennan for six years in consequence of the findings made by High Court Inspectors in their report into National Irish Bank Limited (NIB) and National Irish Bank Financial Services Limited (NIBFS).

The approved written judgment of Mr. Justice Roderick Murphy is available at the original report, as is a report of the decision following further submissions in the case.

Supreme Court Appeal:
On 14.3.2014 the Appeal to the Supreme Court was finalised.  By Consent, the Supreme Court – Mr. Justice O’Donnell, Miss Justice Laffoy and Ms. Justice Dunne - vacated the Order of the High Court made by Mr. Justice Murphy on the 20.06.2008 and in lieu thereof the Court made a Declaration of Restriction for 5 years against the Respondent pursuant to Section 150 (1) of the Companies Act 1990 to take effect from the 14.3.2014.

The Appeal, together with the Director’s Cross-Appeal, were Struck Out with no Order as to Costs.

All previous Orders for Costs in the High Court were vacated.

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