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The Company Statutes of Helena Court Residents Association Ltd.

The Association is a registered company. Unlike a company for commercial profit, it has no shares but operates by "guarantee". This corporate form allows the leaseholders to own the freehold together and avoids the trouble of reissuing shares every time a leasehold changes hands.

Like all companies, HCRA Ltd. has statutes notified to Companies House. HCRA's Memorandum and Articles of Association were adopted on 15 May 1991. Together they act as Helena Court's constitution.

• 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, the Companies Acts as to 1) the relationship between the General Meeting and the Board of Directors and 2) the Board's powers. The Articles contain rules on meetings, transacting business and voting. They say who can be a member of the Company ("dwellingholders" = leaseholders) and be elected a director.

Contact the managing agent for further details.