New Clause 1: “Insolvency of certain persons with an interest in higher-risk and relevant buildings
New Clause 1 - Estate management services
“(1) Within three months of the passage of this Act, the Secretary of State must by regulation provide for residents of managed dwellings to take ownership, at nominal cost, of—
(a) an estate management company, or
(b) the assets of an estate management company, or other company or business connected with the development or management of the dwellings, which are used to provide services to managed dwellings
if the estate management company or connected company or business does not—
(i) provide the residents of the managed dwellings with a copy of its budget for the forthcoming year and accounts for the past year;
(ii) give sufficient notice to enable residents to attend its annual meeting;
(iii) acknowledge correspondence sent by registered post to its registered office within a reasonable length of time.
(2) Regulations under subsection (1) may amend primary legislation.”—(Helen Morgan.)