Commentary on the Sections: Part 1 Qualifying rules Section 73: RTM companies
126.Section 73 provides that in order to qualify to exercise the right to manage, a company must be a private company limited by guarantee and must include the acquisition and exercise of the right to manage as one of its objects.  However, a company which is also a commonhold association cannot be a RTM company.
127.In order to prevent competing bids for the right to manage being mounted, a company does not qualify if there is already a RTM company for the premises.  A RTM company which is used to acquire the freehold of the property by any means (including, but not solely, under the 1993 Act) ceases to enjoy the right to manage upon completion of that acquisition.