Section 55
Requisition of meeting by interest holders
The interest holders of a scheme may require the directors of a management company to call for a meeting of interest holders.
(2)
The directors of the management company shall call for the meeting of interest holders if the management company received an application from not less than fifty in number or ten per centum of the interest holders, whichever is lesser.
(3)
A meeting summoned for the purposes of this section shall be—
(a)
held at the time and place specified in the notice and advertisement, being a time not later than two months after the giving of the notice;
(b)
chaired by—
(i)
a person who is appointed by the interest holders to which the trust deed or contractual agreement relates who are present at the meeting; or
(ii)
where no appointment is made under subparagraph (i), a nominee of the trustee; and
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(c)
conducted in accordance with the trust deed or contractual agreement or, if there is no such provision in the trust deed or contractual agreement, as directed by the chairman of the meeting.
(4)
The management company and every officer who contravene subsection (1) commit an offence and shall, on conviction, be liable to a fine not exceeding twenty thousand ringgit.