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(3) Any written notice served on the purchaser requesting for the payment of the charges shall besupported by a statement of the charges issued by the developer or Body, as the case may be,stating in detail the categories of expenditure in respect of which charges are to be paid.(4) The purchaser shall, within fourteen days of receiving a notice under subsection (3), pay thecharges requested for.(5) If the charges remain unpaid by the purchaser at the expiration of the period of fourteen daysspecified in subsection (4), the purchaser shall pay interest at the rate to be determined by the Bodyunder paragraph 6(1)(d) but such interest shall not exceed 10 percent per annum.24. Joint Management Body to open and maintain sinking fundThe Body shall open and maintain a sinking fund into which shall be paid such portion of thecontribution to the Building Maintenance Fund as may, from time to time, be determined by the Bodyfor the purposes of meeting its actual or expected liabilities in respect of the following matters:(a) the painting or repainting of any part of the common property;(b) the acquisition of any movable property for use in relation to the common property;(c) the renewal or replacement of any fixture or fitting comprised in any common property; or(d) any other expenditure as the Committee deems necessary.PART VIMANAGING AGENT25. Appointment of managing agent.(1) Where-(a) a situation under subsection 6(7) occurs; or(b) the commissioner is satisfied, after due inquiry has been carried out by him or a personappointed by him, that the maintenance and management of a building is not carried outsatisfactorily by the developer or the Body, as the case may be,the Commissioner may appoint, by a written notification, one or more persons to act as Managingagent to maintain and manage the building for a period to be specified by the Commissioner.(2) A managing agent appointed under this Part shall enter into a management agreement with thedeveloper or Body to carry out the duties and powers of the developer or Body as provided for underthis Act.(3) The managing agent shall be entitled to be paid such remuneration or fees as may be agreedupon between the managing agent and the developer or Body with the concurrence of theCommissioner, and such remuneration or fees shall be charged to the Building Maintenance Accountor Building Maintenance Fund, as the case may be.
26. Independence of managing agent.(1) A person shall not be appointed as a managing agent if the person has a professional orpecuniary interest in any building or land intended for subdivision into parcels.(2) A person is regarded as having a professional or pecuniary interest in any building or land if-(a) he has been responsible for the design or construction of the building;(b) he or any of his nominees, officers or employees has any material interest in the buildingor land or any part of the building or land;(c) he is a partner or is in the employment of a person who has any material interest in thebuilding or land or any part of the building or land; or(d) he or his family holds any interest in the building or land or part of the building or landwhether directly, as a trustee or otherwise.27. Managing agent to lodge bond.A person shall not act as managing agent unless he has lodged with the Commissioner a bond in theform approved by the Commissioner and for the specified amount given by a bank, finance companyor insurer and which binds the bank, finance company or insurer to make good any loss caused bythe managing agent as a result of his failure to account for monies received or held by him.28. Powers and duties of managing agent.(1) Where a managing agent has been appointed under section 25, the managing agent shall havecontrol over the moneys in the Building Maintenance Account or Building Maintenance Fund.(2) Subject to the general direction of the Commissioner, the managing agent appointed shall performthe duties and exercise the powers with regard to the maintenance and management of the buildingas if he was acting as the developer or the Body.(3) It shall be the duty of a managing agent to pay all moneys received by him in his capacity asmanaging agent into the Building Maintenance Account or Building maintenance Fund of that buildingwithin two working days of receiving the moneys.(4) As soon as practicable after his appointment, but in any case not later than one month after hisappointment, a managing agent shall prepare and submit to the Commissioner a statement showingas at the date of his appointment-(a) the moneys standing to the credit of the Building Maintenance Account or BuildingMaintenance Fund;(b) the amounts due and owing by the purchasers which are due to be paid to the BuildingMaintenance Account or Building Maintenance Fund;(c) any income derived from the common property of the building which is due to be paid tothe Building Maintenance Account or Building Maintenance Fund;(d) any sum accrued for the maintenance and management of the building, which isauthorized to be paid out of the Building Maintenance Account or Building Maintenance Fund;and which remains unpaid.
Page 1 and 2: LAWS OF MALAYSIAACT 663BUILDING AND
Page 4 and 5: (7) The State Authority may, if in
Page 6 and 7: (2) The Commissioner, subject to an
Page 8 and 9: 8. Duties and powers of Joint Manag
Page 10 and 11: (3) From among the members of the C
Page 12 and 13: PART IVBUILDING MAINTENANCE ACCOUNT
Page 14 and 15: (b) vacant possession of the parcel
Page 18 and 19: (5) A managing agent who contravene
Page 20 and 21: (7) Any amount recovered by the Com
Page 22 and 23: 40. Power to compound.(1) The Commi
Page 24 and 25: FIRST SCHEDULE[Subsection 11(4)]1.T
Page 26 and 27: (3) Where the Chairman refuses to c
Page 28 and 29: Procedure8. The Committee may regul
Page 30 and 31: property, regardless of whoever it

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