# Company Act 1963 Can member of mgt co demand to see full set of directors accounts?



## queryforu (17 Jun 2010)

Hi not sure if anyone has knowledge on the companies act it is so long and involved I got lost trying to find my query within it.

As a member of a management company can I request/ demand to see the full set of directors accounts and all the current outstanding debitors.

Or am I only entitled to view the abridged set of accounts?


----------



## Joe_90 (17 Jun 2010)

The register of directors should be made available check:
[broken link removed]
You can also do a company search on www.cro.ie to see who the directors are.
Don't think that you will get a list of current debtors.
You should recieve notice of the AGM and a full set of accounts.  Most management companies are limited by guarantee so they can't abridge them.  Full accounts should be filed with the CRO.


----------



## ajapale (17 Jun 2010)

Hi queryforu, and welcome to AAM!

The askaboutlaw subforum has developed here over the years to answer questions of a legal nature not discussed elsewhere in the other forums. For instance all aspects of traffic law are discussed in the cars and motoring section.

Legal questions surrounding management companies are asked and answered in a section dedicated to discussions of said  Management  companies,.

Im moving this interesting question to the relevant section and point out a discussion around a new bill about management companies which is winding its way through the Dail. Bill to regulate Management Companies for  apartment blocks. Overall good bill?

aj
moderator


----------



## DianeC401 (21 Jun 2010)

Queryforyou - have you checked out these two sites for information:

National Consumer Agency which gives good basic information on Management Companies:
[broken link removed]

And The Apartment Owners Network - another great source of information, explanations and advice:
[broken link removed]


----------



## Setanta12 (21 Jun 2010)

As a member, you have to approve the accounts at AGM before they can be submitted (as an abridged version) to the CRO. You can't approve a shortened version of the full thing - how would you know what was in the full set otherwise ?

You wouldn't, reasonably, have a right to examine the make-up of the individual accounts and audit adjustments that make up the set of accounts. Otherwise, if every shareholder could - no-one would be able to produce a set of accounts ! There are some companies with millions of sharehgolders / members.

Director accounts must be stated in the notes to the accounts in the fuller version. The finance director will also play ball with you as much as possible, if he wants to get re-elected when he's up for election to the Board again.


----------



## shesells (21 Jun 2010)

Setanta12 said:


> As a member, you have to approve the accounts at AGM before they can be submitted (as an abridged version) to the CRO. You can't approve a shortened version of the full thing - how would you know what was in the full set otherwise ?



This part is not correct. Only the directors approve the accounts before filing to the CRO. The AGM approves a budget but not the accounts.


----------



## powercity (21 Jun 2010)

Have (queryforyou) you asked your management company for the documents? have they refused? if they refused have you asked why, in my opinion, developments consist of people or groups who need to cooperate, if for no other reason than to make their property saleable at a future date. 
I would be very suspicous of a management company of which I was a member that did not want to make any information (particularly if it was ready to hand) available to me.


----------

