PRE-ASSESSMENT (4 March 2025)

The Strata Management Act 2013 comprises 153 Sections and 3 Schedules.

• True

• False

A Joint Management Body (JMB) is established immediately upon delivery of vacant possession (VP) to parcel purchasers.

• True

• False

A Management Corporation (MC) comes into existence as soon as vacant possession is given to parcel purchasers with strata titles.

• True

• False

The Management Corporation (MC) may only be formed if strata titles have been issued to at least 25% of the purchasers.

• True

• False

The Subsidiary Management Corporation (Sub-MC) is established automatically after the MC has been operating for one year.

• True

• False

The Developer can sign maintenance contracts extending beyond the Developer's management period.

• True

• False

If a Developer fails their management duties, they can face imprisonment of up to three years.

• True

• False

JMB can impose charges and contributions to the sinking fund without limitation.

• True

• False

The Developer must hand over audited accounts to JMB within one month after the first AGM, or if the Developer fails, the Developer shall hand over the audited account to JMB within 4 months from the date of the first AGM.

• True

• False

Interest on unpaid charges to JMB/MC cannot exceed 15% per annum.

• True

• False