Download - Ministry of Housing and Local Government
Download - Ministry of Housing and Local Government
Download - Ministry of Housing and Local Government
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(4) The developer shall, upon the completion <strong>of</strong> a building <strong>and</strong> until the Body is established, insure<strong>and</strong> keep insured the building against any loss <strong>of</strong> the building <strong>and</strong> against fire <strong>and</strong> other risks.(5) The developer shall furnish to the Commissioner or any public authority as may be specified bythe Minister by return, reports, accounts <strong>and</strong> information with respect to its activities <strong>and</strong> finances asthe Commissioner or Minister may, from time to time require or direct.(6) The returns, reports, accounts <strong>and</strong> information shall be in such form as the Commissioner orMinister may, from time to time, specify.(7) A developer who fails to comply with this section commits an <strong>of</strong>fence <strong>and</strong> shall, on conviction, beliable to a fine <strong>of</strong> not less than ten thous<strong>and</strong> ringgit but not more than one hundred thous<strong>and</strong> ringgit<strong>and</strong> shall also be liable to a fine not exceeding one thous<strong>and</strong> ringgit for every day during which the<strong>of</strong>fence is continued after conviction.18. Moneys to be deposited into Building Maintenance Account.The developer shall deposit all moneys received from the purchasers for the purpose <strong>of</strong> themaintenance <strong>and</strong> management <strong>of</strong> a building into the Building Maintenance Account within twoworking days <strong>of</strong> receiving the moneys.19. Moneys not to form part <strong>of</strong> the property <strong>of</strong> developer.(1) All moneys in the Building Maintenance Account, notwithst<strong>and</strong>ing any other written law to thecontrary, shall not be deemed to form part <strong>of</strong> the property <strong>of</strong> the developer in the event-(a) the developer enters into any composition or arrangement with his creditors or has areceiving order or an adjudication order made against him; or(b) the developer, being a company, goes into voluntary or compulsory liquidation.(2) Upon the happening <strong>of</strong> any <strong>of</strong> the events referred to in subsection (1)-(a) the moneys in the Building Maintenance Account shall vest in the administrator,the <strong>of</strong>ficialreceiver, trustee in bankruptcy or liquidator, as the case may be, to be applied for all or any <strong>of</strong>the purposes for which monies in the Building Maintenance Account are authorized to beapplied by this Act; <strong>and</strong>(b) any money remaining in the Building Maintenance Account, after all payments have beenmade pursuant to paragraph (a), shall be held by the administrator.(3) Any balance <strong>of</strong> money referred to in paragraph (2)(b) shall be transferred into an account in thename <strong>of</strong> the Body.20. Prohibition on collection <strong>of</strong> charges.(1) No person shall at any time collect any charges from any purchaser for the maintenance ormanagement <strong>of</strong> any building or l<strong>and</strong> intended for subdivision into parcels <strong>and</strong> common propertyunless-(a) a Building Maintenance Account has been opened in the name <strong>of</strong> the development area;<strong>and</strong>
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