The precedent form of Memorandum and Articles of Association for an owners’ management company (OMC) issued by the Conveyancing Committee under the Multi-Unit Developments Act 2011 is no longer appropriate for use incorporating new OMCs following the commencement of the Companies Act 2014. The Conveyancing Committee has issued a precedent constitution for an OMC under the Companies Act 2014 that will comply with the Multi-Unit Development Act 2011.
This is also valid when a current CLG is converting to the new type CLG. If the company qualifies for the requirement to be an OMC, their constitution must be updated appropriately under the Companies Act 2014 and in line with the Multi-Unit Development Act 2011.