Section 24
Joint Management Body to open and maintain sinking fund
of Act 663
ActRepealedProvision 24 of 57
Section 24
The Body shall open and maintain a sinking fund into which shall be paid such portion of the contribution to the Building
Maintenance Fund as may, from time to time, be determined by the Body for 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.
Building and Common Property
(Maintenance and Management)