Malaysia legislation
Section 89
Section 89
Powers and duties of managing agent
(2)
Subject to the general directions of the Commissioner, the managing agent appointed shall perform the duties and exercise the powers with regard to the maintenance and management of the building as if he were acting as the developer, joint management body, management corporation or subsidiary management corporation, as the case may be.
Strata Management 101
(3)
It shall be the duty of the managing agent to pay all moneys received by him in his capacity as managing agent into the accounts specified in subsection (1) of that development area within three working days of receiving the moneys.
(4)
As soon as practicable after his appointment, but in any case not more than one month after his appointment, a managing agent shall prepare and submit to the Commissioner a statement showing as at the date of his appointment—
(a)
the moneys standing to the credit of the maintenance account or the sinking fund account;
(b)
the amounts due and owing by the parcel owners or proprietors which are to be deposited into the maintenance account or the sinking fund account;
(c)
any income derived from the common property or the proposed limited common property of the development area, which is to be deposited into the maintenance account or the sinking fund account; and
(d)
any sum incurred for the maintenance and management of any building or land, which is authorized to be paid out of the maintenance account or the sinking fund account, and which remains unpaid.
(5)
Any managing agent who fails to comply with subsection
(3)
or (4) commits an offence and shall, on conviction, be liable to a fine not exceeding two hundred and fifty thousand ringgit or to imprisonment for a term not exceeding three years or to both, and in the case of a continuing offence, to a further fine not exceeding five thousand ringgit for every day or part thereof during which the offence continues after conviction.
Developer not to be relieved of his obligations to carry out repairs, etc.