Definition
“maintenance account” means an account required to be opened and maintained by a developer, joint management body, management corporation or subsidiary management corporation under section 10, 23, 50, 60 or 66, as the case may be;
“Charges” means any money collected to be deposited into the maintenance account;
Use of Maintenance Fund Account
| maintaining the common property in good condition on a day-to-day basis; |
| paying for the expenses incurred in providing cleaning services for the common property, security services and amenities for the occupiers of the building; |
| paying any premiums for the insurance effected under this Act or any other insurance approved by a special resolution in a general meeting; |
| complying with any notice or order given or made by the local authority in respect of periodical inspection of any building in the development area in the manner as specified in the Street, Drainage and Building Act 1974; |
| minor painting work on premises of the common property; |
| carrying out inspection of all electrical wiring systems of the common property and replacing or repairing any faulty wiring system, if any; |
| carrying out inspection, maintenance and repair of the main water tanks; |
| paying rent and rates, if any; |
| paying any fee incurred for the auditing of the accounts required to be maintained by the developer/ JMB/ MC under this Act; |
| paying all charges reasonably incurred for the administration of the accounts required to be maintained by the developer/ JMB/ MC under this Act as may be determined by the Commissioner; |
| paying the remuneration or fees for the managing agent appointed under Part VI; |
| paying any expenses, costs or expenditure in relation to the procurement of services, including the engagement of consultants, legal fees or costs and other fees and costs, properly incurred or accepted by the developer/ JMB/ MC in the performance of its functions and the exercise of its powers under this Act; or |
| meeting other expenses of a general or regular nature relating to the maintenance and management of the building or land intended for subdivision into parcels and the common property. |
| paying for the allowances and other expenses of the members of the joint management body and members of the joint management committee according to such rates as may be approved by the Commissioner; |
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