Malaysia legislation
Section 25
Section 25
(2)
The developer shall pay the Charges, and contribution to the sinking fund, to the joint management body in respect of those parcels in the development area which have not been sold, being a sum equivalent to the Charges, and contribution to the sinking fund, payable by the purchasers to the joint management body had the parcels been sold.
(3)
The amount of the Charges to be paid under subsections
(1)
and (2) shall be determined by the joint management body from time to time in proportion to the allocated share units of each parcel.
Strata Management 47
(4)
The amount of contribution to the sinking fund to be paid under subsections (1) and (2) shall be a sum equivalent to ten per cent of the Charges unless otherwise determined by the joint management body from time to time at a general meeting which shall not be less than ten percent of the Charges.
(5)
A parcel owner shall, within fourteen days of receiving a notice from the joint management body, pay the Charges, and contribution to the sinking fund, to the joint management body.
(6)
If any sum remains unpaid by the parcel owner in respect of his parcel at the expiry of the period of fourteen days specified in subsection (5)—
(a)
the joint management body may recover the sum in the manner set out in section 34; and
(b)
the parcel owner shall pay interest at the rate to be determined by the joint management body under paragraph 19(1)(d) but such interest shall not exceed ten per cent per annum.
Duties of joint management body in relation to accounts