Strata Management Act 2013 · Updated to 8 Feb 2013 · Chapter 4
Strata Management Act 2013 · Updated to 8 Feb 2013 · Chapter 4
Official textFrom Laws of Malaysia Online, unchanged
All moneys in the accounts required to be opened and maintained under this Part which exceeds five thousand ringgit and which are not required for immediate use, shall be placed or deposited by the developer or the joint management body, as the case may be, into an income-bearing deposit account with a bank or financial institution.
joint management body
“joint management body” means the body established under section 17;
bank or financial institution
“bank or financial institution” means a bank or financial institution licensed under the Banking and Financial Institutions Act 1989 or the Islamic Banking Act 1983, or regulated by the Central Bank under any written law;
joint management body
“joint management body” means the body established under section 17;
Part V
Part VIII
Part IX
Part XI