Section 81
of Strata Management Ordinance, 2019
Section 81
—
The Commissioner may require the developer to provide a deposit either in cash or in the form of bank guarantee for the purpose of carrying out any work to rectify any defects in the common property of the development after the completion of the common property.
(2)
The amount of deposit referred to in subsection (1)
shall be determined by the Commissioner and paid to the
Commissioner by the developer upon the issuance of occupation permit by the local authority.
(3)
The Commissioner may use the deposit for the purpose of carrying out any work which is necessary to rectify any defects in the common property of the development.
(4)
Where the Commissioner has determined that the deposit is insufficient for rectifying the defects to the common property, the Commissioner may direct the developer to deposit within fourteen days such further sums as the Commissioner may determine.
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(5)
Any unexpended deposit shall be refunded to the developer on the expiry of the defect liability period for the development.
(6)
Any developer who fails to comply with subsection (1)
shall be guilty of an offence and shall, upon conviction, be punished a fine not exceeding five thousand ringgit and to a further fine not exceeding fifty ringgit for every day or part thereof during which the offence continues after conviction.