Building and Common Property (Maintenance and Management) Act 2007 s 19
This legislation has been repealed. Do not cite it as law in force.
s 19 Moneys not to form part of the property of developer
(1) All moneys in the Building Maintenance Account, notwithstanding any other written law to the contrary, shall not be deemed to form part of the property of the developer in the event—
(a) the developer enters into any composition or arrangement with his creditors or has a receiving order or an adjudication order made against him; or
(b) the developer, being a company, goes into voluntary or compulsory liquidation.
(2) Upon the happening of any of the events referred to in subsection (1)—
(a) the moneys in the Building Maintenance Account shall vest in the administrator, the official receiver, trustee in bankruptcy or liquidator, as the case may be, to be applied for all or any of the purposes for which monies in the Building Maintenance Account are authorized to be applied by this Act; and
(b) any money remaining in the Building Maintenance Account, after all payments have been made pursuant to paragraph
(a), shall be held by the administrator.
(3) Any balance of money referred to in paragraph (2)(b) shall be transferred into an account in the name of the Body.
Malay text (authoritative)
Wang tidak menjadi sebahagian daripada harta pemaju
(1) Segala wang dalam Akaun Penyenggaraan Bangunan, walau apa pun mana-mana undang-undang bertulis lain yang berlawanan, tidak boleh disifatkan menjadi sebahagian daripada harta pemaju sekiranya—
(a) pemaju membuat apa-apa komposisi atau perkiraan dengan pemiutangnya atau mempunyai perintah penerimaan atau perintah penghukuman dibuat terhadapnya; atau
(b) pemaju itu, sebagai suatu syarikat, telah mengalami pelikuidasian sukarela atau paksa.
(2) Apabila berlaku mana-mana kejadian yang disebut dalam subseksyen (1)—
(a) wang dalam Akaun Penyenggaraan Bangunan hendaklah terletak hak pada pentadbir, penerima rasmi, pemegang amanah dalam kebankrapan atau pelikuidasi, mengikut mana-mana yang berkenaan, yang hendaklah digunakan bagi segala atau mana-mana maksud yang baginya wang dalam Akaun Penyenggaraan Bangunan dibenarkan digunakan oleh Akta ini; dan
(b) apa-apa wang yang masih berada dalam Akaun Penyenggaraan Bangunan, selepas semua pembayaran dibuat menurut perenggan (a), hendaklah dipegang oleh pentadbir itu.
(3) Mana-mana baki wang yang disebut dalam perenggan (2)(b) hendaklah dipindahkan ke dalam suatu akaun atas nama Badan itu.
Read this section in the full act → · Open Part IV →
Find Act 663 on lom.agc.gov.my ↗
Text as at 1 November 2012 (LOM reprint); amendments made after that date may not be incorporated.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
