Section 9 — STRATA MANAGEMENT ORDINANCE, 2019

(a)

if occupation permit of a building on the development was issued before the commencement of this

Ordinance, within fourteen days from the date of the commencement of this Ordinance; or

(b)

if occupation permit of a building on the development is issued after the commencement of this

Ordinance, within fourteen days from the date of the issuance of the occupation permit, but in any case, before the maintenance charge and contribution to sinking fund are collected from the purchaser of any parcel in the development.

(2)

Each maintenance account shall be operated and maintained until the expiry of the developer’s management period.

(3)

All maintenance charges in respect of those parcels in the development which have not been sold together with those maintenance charge received from the purchasers shall be deposited into the maintenance account within seven working days of receipt.

(4)

Notwithstanding any other written law to the contrary, all monies in the maintenance account shall—

(a)

not form part of the property of the developer;

(b)

be held in trust for the purchasers; and

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(c)

to be used solely for the purpose of meeting the actual or expected general or regular expenditure necessary in respect of the following matters;

(i)

maintaining the common property in good condition on a day-to-day basis;

(ii)

paying for the expenses incurred in providing cleaning services for the common property, security services and amenities for the occupiers of the building;

(iii)

paying any premiums for the insurance effected under this Ordinance;

(iv)

complying with any notice or order given or made by the local authority in respect of periodical inspection of any building in the development in the manner as specified in the Buildings Ordinance, 1994

[Cap. 8];

(v)

minor painting work on the premises of the common property;

(vi)

carrying out inspection of all electrical wiring systems of the common property and replacing or repairing any faulty wiring system, if any;

(vii)

carrying out inspection, maintenance and repair of the main water tanks;

(viii)

paying rent and rates, if any;

(ix)

paying any fee incurred for the auditing of the accounts;

(x)

paying all maintenance charges reasonably incurred for the administration of the accounts required to be maintained under this Ordinance as may be determined by the Commissioner;

(xi)

paying the remuneration or fees for the property manager or managing agent appointed under