Clause 18

by inserting immediately after the word “may” appearing in the second line of subsection (3) thereof the words “at a general meeting”;

by deleting the word “and” appearing at the end of paragraph (a) of subsection (3) thereof;

by deleting the full-stop appearing at the end of paragraph (b) of subsection (3) thereof and substituting therefor the expression “; and”;

by inserting immediately after paragraph (b) of subsection (3) thereof the following new paragraph: —“(c)determine the amount of interest payable by a subsidiary proprietor in respect of late contributions which shall not exceed the rate of ten per cent per annum.”;

by deleting subsection (4) thereof and substituting therefor the following: —“(4) On application by or on behalf of a person who is a subsidiary proprietor of a lot or by or on behalf of a prospective purchaser of a lot that is offered for sale or by or on behalf of the mortgagee or prospective mortgagee of a lot, the management corporation shall issue to that person a certificate certifying —

the amount determined pursuant to subsection (3) of this section as the contributions of that subsidiary proprietor;

the time and manner of payment of the amount determined by it pursuant to that subsection;

the extent (if any) to which the contribution has been paid;

the amount (if any) then recoverable by the management corporation in respect of the lot pursuant to subsection (5) of section 19 of this Act;

the sum or the respective sums standing to the credit of the fund or funds kept and maintained by the management corporation pursuant to subsection (1) of this section, and the amount or respective amounts out of that fund or those funds committed or earmarked for any expenses already incurred by the management corporation; and

whether or not the management corporation has incurred any expenditure or performed or is about to perform any repairs, work or act in respect of which a liability is likely to be incurred by the subsidiary proprietor under any provision of this Part and, if so, the estimated amount of the expenditure or the general nature of the repairs, work or act,and as against the management corporation and in favour of any person (including the member) relying in good faith on such certificate, that certificate shall be conclusive evidence of the matters certified therein.”; and

by inserting immediately after subsection (5) thereof the following new subsections: —“(6) Where any contribution levied under subsection (3) of this section remains unpaid after the expiry of a period of fourteen days from the date the management corporation has sent a written demand by registered post to a subsidiary proprietor of the lot in respect of which the contribution is levied, the subsidiary proprietor shall be guilty of an offence and shall be liable on conviction to a fine not exceeding one thousand dollars and to a further fine not exceeding fifty dollars for each day the contribution remains unpaid after conviction.(7) For the purposes of subsections (5) and (6) of this section, “subsidiary proprietor” includes the person for the time being receiving the rent of the lot, whether as agent or trustee or as receiver, and who would receive the same if the lot were let to a tenant.”.