574. Companies which are RTM companies.

A company is an RTM company1 in relation to premises if:

  1.  

    (1)     it is a private company limited by guarantee2; and

  2.  

    (2)     its articles of association state that its object, or one of its objects, is the acquisition and exercise of the right to manage the premises3.

A company is not an RTM company, however:

  1.  

    (a)     if it is a commonhold association4:

  2.  

    (b)     in relation to premises, if another company is already an RTM company in relation to the premises, or to any premises containing or contained in the premises