This section specifies what is a RTM company.
A company is a RTM company in relation to premises if—
it is a private company limited by guarantee, and
its articles of association state that its object, or one of its objects, is the acquisition and exercise of the right to manage the premises.
But a company is not a RTM company if it is a commonhold association (within the meaning of Part 1).
And a company is not a RTM company in relation to premises if another company is already a RTM company in relation to the premises or to any premises containing or contained in the premises.
If the freehold of any premises is conveyed or transferred to a company which is a RTM company in relation to the premises, or any premises containing or contained in the premises, it ceases to be a RTM company when the conveyance or transfer is executed.