Section 80

not than one month from such termination, prepare and submit to the Commissioner the unaudited accounts of the maintenance account and the sinking fund account, and hand over to the Commissioner a complete list of the assets and liabilities of such maintenance account and sinking fund account and all records related to and necessary for the maintenance and management of the building or land intended to be subdivided into parcels or subdivided building or land;

and

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not later than three months from such termination or such extended time as the Commissioner deems fit, submit to the Commissioner the audited accounts of the maintenance account and the sinking fund account.

Any property manager or managing agent who fails to comply with subsection (1) 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.

In the event of the termination of the management agreement, the Commissioner may appoint another property manager to manage and maintain the building or land intended to be subdivided into parcel or subdivided building or land for a period to be specified by the Commissioner.