Duties and powers of joint management body (JMB)

Duties

1. to establish maintenance account;
2. to establish sinking fund account;
3. to properly maintain and manage the building or land intended for subdivision into parcels and the common property, and keep it in a state of good and serviceable repair;
4. to determine and impose the Charges to be deposited into the maintenance account for the purpose of the proper maintenance and management of the buildings or lands intended for subdivision into parcels and the common property;
5. to determine and impose the contribution to the sinking fund to be deposited into the sinking fund account for the purpose of meeting the actual or expected expenditure specified under subsection 24(2);
6. to effect insurance according to this Act or to insure against such other risks as the parcel owners may by special resolution direct;
7. to comply with any notice or order given or made by the local authority or any competent public authority requiring the abatement of any nuisance on the common property, or ordering repairs or other work to be done in respect of the common property or other improvements to the common property;
8. to prepare and maintain a register of all parcel owners of the buildings or lands intended for subdivision into parcels;
9. to ensure that the accounts required to be maintained by the joint management body under this Act are audited and to provide audited financial statements for the information to its members;
10. to enforce the by-laws; and
11. to do such other things as may be expedient or necessary for the proper maintenance and management of the buildings or lands intended for subdivision into parcels and the common property.
12. to be prepared such accounts and records of accounts as will sufficiently explain the transactions of the accounts and enable true and fair balance sheet, income and expenditure statement and profit and loss statement to be prepared for the period starting from its first annual general meeting;
13. appoint an approved company auditor to carry out the audit of the accounts annually;
14. file with the Commissioner a certified true copy of the audited accounts together with the auditor’s report within fourteen days of the accounts being audited;

Powers

1. to collect the Charges from the parcel owners in proportion to the allocated share units of their respective parcels;
2. to collect the contribution to the sinking fund from the parcel owners;
3. to authorize expenditure for the carrying out of the maintenance and management of the buildings or lands intended for subdivision into parcels and the common property;
4. to recover from any parcel owner any sum expended by the joint management body in respect of that parcel in complying with any such notice or order as referred to in paragraph (1)(e);
5. to purchase, hire or otherwise acquire movable property for use by the parcel owners in connection with their enjoyment of the common property;
6. to employ or arrange and secure the services of any person or agent to undertake the maintenance and management of the common property of the building or lands intended for subdivision into parcels;
7. subject to subsection 32(3), to make additional by-laws for the proper maintenance and management of the buildings or lands intended for subdivision into parcels and the common property; and
8. to do all things reasonably necessary for the performance of its duties under this Act and for the enforcement of the by-laws.

Notes

the joint management body shall not enter into any contract relating to the maintenance and management of any building or land intended for subdivision into parcels and the common property in the development area for any period exceeding twelve months.