Malaysia legislation
Section 60
Section 60
(2)
The maintenance account shall consist of all moneys specified in subsection 50(2), and all moneys in the maintenance account shall be used for the purposes specified in subsection 50(3).
(3)
Subject to section 52, for the purpose of establishing and maintaining the maintenance account, the management corporation may at a general meeting—
(a)
determine from time to time the amount to be raised for the purposes mentioned in subsection 50(3);
(b)
raise the amounts so determined by imposing Charges on the proprietors in proportion to the share units or provisional share units of their respective parcels or provisional blocks, and the management corporation may determine different rates of Charges to be paid in respect of parcels which are used for significantly different purposes and in respect of the provisional blocks; and
(c)
determine the amount of interest payable by a proprietor in respect of late payments which shall not exceed the rate of ten per cent per annum.
(4)
Any Charges imposed under subsection (3) in respect of a parcel shall be due and payable on the passing of a resolution to that effect by the management corporation and in accordance with the terms of that resolution, and may be recovered in the manner set out in section 78 from the proprietor of, or his successor-in-title to, the parcel, or the person for the time being receiving the rent of the parcel, whether as an agent or a trustee or a receiver, and who would receive the same if the parcel were let to a tenant.
Strata Management 79
(5)
Any Charges imposed under subsection (3) in respect of a provisional block shall be due and payable on the passing of a resolution to that effect by the management corporation and in accordance with the terms of that resolution, and may be recovered in the manner set out in section 78 from the proprietor of the provisional block or, where the building to which the provisional block relates has been subdivided, from the proprietors of the parcels in the building, or their successors-in-title, in proportion to the share units of their respective parcels.
(6)
For the purposes of subsection (5), “proprietor” includes a purchaser to be duly registered as a proprietor.
Sinking fund account of the management corporation