Dáil Éireann Debate, Wednesday - 26 June 2024
126. Deputy Aengus Ó Snodaigh asked the Minister for Justice when a register of owners’ management companies (OMCs) or an OMC regulator will be established to register OMCs and help these mainly voluntary committees in relation to their governance and responsibilities; and the steps she will take in the interim to address these matters, pending the establishment of an OMC regulator. [27432/24]
Amharc ar fhreagraThe Multi-Unit Developments (MUDs) Act 2011 was enacted with the primary purposes of reforming the law relating to the ownership and management of common areas of multi-unit developments, and facilitating the fair, efficient and effective management of owners' management companies (OMCs).
As regards the establishment of a Regulator for OMCs, it should be noted that OMCs are already subject to company law provisions, including their own Memorandum of Association, and are subject to oversight by the Companies Registration Office and the Corporate Enforcement Authority. Furthermore, the Competition and Consumer Protection Commission also plays a role in providing information and advice to intending purchasers of residential units in multi-unit developments.
The MUDs Act also acknowledges the risk of disputes arising in the enforcement of rights and the performance of obligations imposed by its provisions on OMCs. Section 24 of the MUDs Act makes provision for the resolution of such disputes.
Separately, it may interest the Deputy to know that I have agreed with Minister for Housing, Local Government and Heritage to establish an Interdepartmental Group to consider what further regulatory measures may be required for OMCs in the context of the Interim Remediation Scheme for Fire Safety Defects in Eligible Apartments and Duplexes (‘Scheme’) and the proposed statutory remediation scheme.
The Minister announced the opening of the Scheme last December, which provides for the funding of emergency fire safety defect works in order to provide an acceptable level of fire safety in buildings, pending completion of the full remedial works.
