Malaysia legislation
Section 31
of Act 663
Section 31
(2)
The deposit referred to in subsection (1) shall be paid to the Commissioner upon the handing over of vacant possession.
(3)
The Commissioner may use the deposit for the purpose of carrying out any work which is necessary to rectify any defects in the common property of the development area.
(4)
Where the Commissioner has determined that the deposit is insufficient for rectifying the defects to the common property, the
Commissioner may direct the developer to deposit within fourteen days such further sums as the Commissioner may determine.
Building and Common Property
(Maintenance and Management)
(5)
Any unexpended deposit shall be refunded to the developer on the expiry of the defect liability period for the development area.
(6)
Any developer who fails to comply with subsection (1)
commits an offence and shall, on conviction, be liable to a fine not exceeding five thousand ringgit and shall also be liable to a further fine not exceeding fifty ringgit for every day during which the offence is continued after the conviction.
Recovery of charges by Joint Management Body