Section 13

a maintenance account and a sinking fund account have been opened in respect of the development area; and

vacant possession of the parcel purchased by the purchaser has been delivered to the purchaser.

Notwithstanding subsection (1), any developer of a development area which has been completed on or before the commencement of this Act and has, immediately before that date, been collecting moneys from the purchasers for the maintenance and

Strata Management 33

management of any building or land intended for subdivision into parcels and the common property comprised in the development area, may continue to do so until the joint management body is established, provided that all moneys shall be collected and dealt with by the developer in accordance with this Act.

Any person who fails to comply with subsection (1) or

commits an offence and shall, on conviction, be liable to a fine not exceeding two hundred and fifty thousand ringgit or to imprisonment for a term not exceeding three years or to both.

Duties of developer in relation to accounts