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Joint Management Body |
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When
the Building and Common Property Act 2007 comes into effect on 12th
April 2007, it is stated clearly that the purpose of this Act is to form
a Joint Management Body (JMB) for providing a proper maintenance and
management of building and common property of strata building after the
delivery of vacant possession and before the formation of
Management Corporation (MC). Following
are the information:
What is JMB?
JMB is a corporate body, having a common seal comprising of the
developer and/or their Developer representative and together with the
purchasers to undertaken the Joint Management of the building and common
property.
What are the duties of JMB?
The duties of JMB are as below:
a) Maintain the common property and keep it in good serviceable repair;
b) Determine an impose charges for maintenance of common property;
c) Insure the building;
d) Comply with notices and orders by local authorities;
e) Prepare and maintain a register of all purchasers;
f) Ensure that the Building Maintenance fund is audited and provide
financial statement to purchasers;
g) Enforce House Rules;
h) Consists of 5 to 12 elected purchasers and developer;
What are the duties of developer?
Duty of Developer is to convene the first meeting of Joint Management
Body within 12 months from the date of VP,
agenda for the 1st Meeting of JMB are as follow:
a) Election of Office Bearers of the Committee (under JMB);
b) Confirm taking over of insurance effected by developer;
c) Determine amount of maintenance fund;
d) Determine rate of interest for late payment charges;
e) Any other matters on maintenance and management of the building and
common property.
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