Management agent chairing AGMs

E

emerg

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Anyone know if this is OK?

ODCE guidelines don't seem to think it's the best idea, but one guy in our development started out only as a member (like me), then chaired a meeting when he was on the residents committee, where we stupidly voted him as a director. He was then appointed as MA (by himself and his friend, another director).

He now chairs meetings as a :
company member,
previous co. director (only for a couple of months though)
and current management agent - we should erect a statue to this guy in the development as he has had/has his fingers in so many pies!!
Anyway original Q-is it OK for Management agent to be chairing AGM's (while company directors sit beside them and say nothing?????)
 
Re: Management agent chairing AGM's

No - the managing agent is "an employee" of the management company.
 
Re: Management agent chairing AGM's

While I am open to correction it is my belief that a Company Director should chair the A.G.M. of the Management Company.
As Mathepac points out the Agent is "an employee" of the management Company.
There is nothing stopping an owner from providing the Managing Agent services. It is when the owner is a Director and Agent that a conflict of interest may arise ( In Ireland conflict of interest usually means "backhanders" )
 
thanks for the responses.

At our recent agm, the MA presented the co. accounts to the floor and chaired the meeting, while 1 director sat beside them and said nothing the whole meeting, the other director also said nothing but took the minutes.


A few years ago, the MA we have now was only a member, then got appointed as director at meeting (along with his friend), we had voted them in thinking they were going to act in all our best interests, they then let us know they wanted to be the MA.

we said no through a vote.

however as directors they took it on themselves (together with director who sits a meetings saying nothing taking minutes) to get rid of the previous agent and give one of themselves the job as MA- so the guy who is now the agent was a director and was involved in a decision that gave the job to himself.
2 of the directors then stepped down so they're unaccountable now, by any law currently anyway.

can i do anything?????????????????/
 
Is the managing agent doing a good job though?
I don't think they've broken any laws in making a former director the management agent. As long as he's a competent agent....

In my own experience, as a director, I chaired the last AGM but the one prior to that was chaired by our managing agent. That one was a blood bath but since people got involved subsequently, things are much better and there were few dissenters at the most recent one.

The OCDE guidelines are just that.
 
You should read the Company Documents, particularly the Articles of Association.

These will stipulate who should chair the meeting - usually the Directors choose from amongst themselves.

However the directors can usually do whatever they please within the law and the said terms of reference.

I think they could choose any company member to chair the meeting,

Check the docs.

ONQ.
 
Firstly, if he is doing a good job at the same or cheaper price what is the big problem ?? Saying that if there are other owners who are in the same view as you, call an EGM and have a motion to get him sacked. But bear in mind are you thinking of you or the entire development. The whole thing could come back to haunt you.
 
The issue about who chairs the meeting is a bit of a red herring. Clearly, there is a conflict of interest here about how the agent was appointed, and you have no confidence that you are getting good value for money from the agent.

The options open to you are the same as any management company member. First this you should be doing is kicking up a fuss at the AGM (or call and EGM) and put pressure on the directors (not the agent) as to how they are ensuring value for money. If this doesn't sort things out, you need to appoint new directors (maybe including yourself).
 
thanks for all comments

value for money - charges have gone up and we had a big levy last year

better service - yet to see any evidence of it after a couple of yrs in charge

Complainer - i don't agree bout the chairing being a red herring - i was slightly late to the last meeting and couldn't object unfortunately, but having a contracted employee i.e MA, with a vested interest directing a company meeting agenda which no directors talk at is odd i think.
There is a conflict of interest on how MA was appointed however i think.


Directors are pretty much anonymous but I'll be trying to contact one in particular to ask questions and get more involved.

thanks
 
emerg said:
Directors are pretty much anonymous but I'll be trying to contact one in particular to ask questions and get more involved.
Click to expand...

What do you mean trying ?? The functions of placing yourself as a Director in circumstances like this is knowing that you likely to be questioned.
 
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