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Can a developer transfer a defict maintenance funds account operated under them to the Joint Management Body set up under Act 663 (Common Property Maintenance And Management Act 2007) ?. If so under what basis?.
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Albert Khoo
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Hi Charlie,you can check with COB of a local council. COB is a government department setup to oversee the operation of the Joint Management Body.From my experience, there might be some defaulters. From my understanding, the act says the accounts need to be audited by qualified auditor and this you have to be sure. if the accounts is not audited, you must report to the COB. Read More
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