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STRATA MANAGEMENT: Unpaid maintenance fees and contribution to sinking fund during developer’s management period shall vest in joint management body

Maintenance fees and contribution to the sinking fund which have remained unpaid during a developer’s management period, shall vest in the joint management body on the date of the expiry of the said developer’s management period.

 

Section 16(2) of the Strata Management Act 2013 provides that:

 

“(2) Any right, power or remedy granted to the developer under this Part in respect of the Charges, contribution to the sinking fund, and any other assets of the maintenance account and the sinking fund account, shall vest in the joint management body on the date of the expiry of the developer’s management period, and the joint management body shall have the same right, power or remedy as if it had at all times been a right, power or remedy of the joint management body, including those rights in respect of any legal proceedings or applications to any authority by the developer pending immediately before the expiry of the developer’s management period.”

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