Section 78
Powers and duties of property manager or managing agent
of Strata Management Ordinance, 2019
—
Where a property manager or managing agent has been appointed under section 76(1), 76(4) or 80(3) the property manager or managing agent shall have control over the monies in the maintenance account and the sinking fund account.
(2)
Subject to the general directions of the Commissioner, the property manager or managing agent appointed shall perform the duties and exercise the powers with regards to the management and maintenance of the building or land intended to be subdivided into parcel or subdivided building or land as if he was acting as the developer, joint management body, management corporation or subsidiary management corporation, as the case may be.
(3)
It shall be the duty of the property manager or managing agent to pay all monies received by him in his capacity as property manager or managing agent into the accounts specified in subsection (1) of that development within seven working days of receiving the monies.
(4)
As soon as practicable after his appointment, but in any case not more than one month after his appointment, a property manager or managing agent shall prepare and submit to the
Commissioner a statement showing as at the date of his appointment—
(a)
the monies standing to the credit of the maintenance account or the sinking fund account;
(b)
the amounts due and owing by the parcel owner or subsidiary 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, which is to be deposited into the maintenance account or the sinking fund account; and
(d)
any sum incurred for the management and maintenance of any building or land intended to be subdivided into parcel or subdivided building or land, which is authorized
92
to be paid out of the maintenance account or the sinking fund account, and which remains unpaid.
(5)
Any property manager or managing agent who fails to comply with subsection (3) or (4) of this section or section 76(5)
shall be guilty of an offence and shall, upon conviction, be punished with a fine not exceeding two hundred and fifty thousand ringgit or 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.