Singapore legislation
Section 13
of Buildings and Common Property (Maintenance and Management) Act
Section 13
Powers and duties of managing agent
(1)
Where a managing agent has been appointed by the Commissioner under section 12, the managing agent shall have control over the moneys in the maintenance fund of the development and take into his custody and under his control all the investments or securities which have been made or purchased with the moneys in the maintenance fund.
(2)
No moneys shall be paid out of the maintenance fund without the authority of the managing agent after his appointment.
(3)
Subject to the general control and direction of the Commissioner, the managing agent appointed under section 12 shall have all the powers and duties of a developer as regards the management and maintenance of the development.
(4)
Without prejudice to the generality of subsection (3), a managing agent appointed by the Commissioner shall have the power —
to manage the maintenance fund of a development;
to issue any written demand in the name of the developer to the purchasers of flats in the development for the payment of maintenance charges due from them;
to receive all charges payable to the developer by purchasers of flats in the development for the maintenance of the common property of the development and to give a valid discharge therefor;
to receive all charges payable by the developer to the maintenance fund in respect of those flats which have not been sold for the maintenance of the development and for which temporary occupation licences have been issued by the competent authority;
to institute proceedings in the name of the developer to recover maintenance charges payable by the purchasers of the flats in the development; and
to bring any action in his own name to recover moneys due to the maintenance fund from the developer or any other person.
(5)
It shall be the duty of a managing agent to pay all moneys received by him in his capacity as managing agent for a development into the maintenance fund of that development.
(6)
As soon as practicable after his appointment, but in any case not later than two months after his appointment, a managing agent shall prepare and submit to the Commissioner a statement showing as at the date of his appointment —
the moneys standing to the credit of the maintenance fund;
the investments and securities which have been made or purchased with the moneys in the maintenance fund;
the amounts due and owing by the purchasers of the flats in the development as charges payable for the maintenance of the common property of the development;
any income derived from the common property of the development which are due to be paid to the maintenance fund; and
any expenditure incurred for the maintenance for the development which is authorised by section 9 to be paid out of the maintenance fund and which remains unpaid.
(7)
A managing agent who contravenes subsection (5) or (6) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000.[7E