Head Lease- Directors abusing their position

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    #16
    The legislation does not say that; the part that requires a separate account has never been commenced.

    Section 42 simply says the money that represents the service charge does not belong to the company, and must be accounted for separately.

    Not charging for many personal accounts is an aberration of the current UK banking system. Of course there will be bank charges for a commercial account, like this. In fact segregating the account will probably increase the total charges.

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      #17
      I am slowly unravelling the mess which I have described above. I have now discovered that the Company does not own the headlease as advised by the Directors. The RMC is the Lessee of which two of the three leaseholders/shareholders are Directors. I am the third Leaseholder/shareholder and the Directors are blocking me becoming a Director. They are telling me that I don't have a right I have to be elected and they are not prepared to elect me. The two directors have been running the RMC to their advantage for years so having me, the third resident on the board will upset their applecart. They are in breach of their duties as Director of the Company by not complying with the Maintenance obligations of the lease.

      Can they block my request to be a director if there is only three residents in the building. I have never been invited to an AGM, they do not consult with me on expenditure over £250 in line with Section 20 consultation .

      Does the Company Act 2006 have anything to say about leaseholder/shareholders of a RMC rights to be a Director. The Articles confirms that there is no max number of Directors and minimum is 1 director.

      Does the Companies Act consider reasonableness for Directors behaviour towards a fellow shareholder?. It does not seem correct that the two directors can isolate the third leaseholder/shareholder from a Residents Managment Company - it is not in the spirit of a Residents Management Company to isolate a Resident!! - but does the law make provision for this.?

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