Singapore legislation
Clause 23
Clause 23
The management fund
(1)
The management corporation shall establish a fund for administrative expenses (hereinafter in this Part of this Act referred to as “the management fund”) sufficient in the opinion of the management corporation for the purposes of controlling, managing and administering the common property, paying rent, rates and premiums of insurance and discharging any other obligation of the management corporation.
(2)
The management corporation may invest as it thinks fit any moneys in the management fund.
(3)
For the purpose of establishing and maintaining the management fund the management corporation may —
determine from time to time the amounts to be raised for the purposes mentioned in subsection (1) of this section; and
raise the amounts so determined by levying contributions on the subsidiary proprietors in proportion to the share units of their respective lots.
(4)
The management corporation shall on the application of a subsidiary proprietor or any person or body authorised in writing by him certify —
the amount of any contribution determined as the contribution of that subsidiary proprietor;
the manner in which the contribution is payable;
the extent (if any) to which the contribution has been paid; and
the amount of any property tax paid in respect of that subsidiary proprietor’s lot by the management corporation under section 24 of this Act and not recovered by it, and such certificate shall be conclusive evidence of the matters certified in favour of any person or body dealing with that subsidiary proprietor.
(5)
A subsidiary proprietor, on whom a contribution is levied under subsection (3) of this section and, without prejudice to the conclusiveness of a certificate given under subsection (4) of this section, his successors in title shall be jointly and severally liable for the payment of the contribution, which shall be recoverable accordingly by the management corporation.