The Company Statutes of Helena Court Residents Association Ltd.
The Association is a registered company. But, unlike a company for commercial profit, it has no shares. The liability that in a company is usually limited by shares is instead limited here by "guarantee".
This solution avoids the trouble of withdrawing and then reissuing shares every time a leasehold changes hands. It also allows membership to be tailored to a defined group -- at Helena Court, the "dwellingholders" -- who participate in the company's affairs.
Like all companies, HCRA Ltd. has statutes that are registered with Companies House. These are HCRA's Memorandum and Articles of Association, which were adopted on 15 May 1991. Together they act as Helena Court's "constitution".
Click here or on the cover sheet to the left to see a scanned copy.
The Memorandum contains the Company's objects and powers. The main ones are to "manage and administer" Helena Court, insure and improve it, create and dispose of capital and maintenance funds, and engage others (e.g. a managing agent) to work on its behalf.
The Articles refer to, and must be read alongside, parts of the Companies Acts that regulate 1) the relationship between the General Meeting and the Board of Directors and 2) the Board's powers. The Articles contain clear rules on calling meetings, transacting business and voting. They say who can be a member of the Company (the "dwellingholders") and be elected director.