(4) Notwithstanding any other written law to the contrary, all moneys in the maintenance account shall—
(a) not form part of the property of the developer;
(b) be held in trust for the purchasers; and
© only be used by the developer solely for the purpose of meeting the actual or expected general or regular expenditure necessary in respect of the following matters:
(i) maintaining the common property in good condition on a day-to-day basis;
(ii)paying for the expenses incurred in providing cleaning services for the common property, security services and amenities for the occupiers of the building;
(iii)paying any premiums for the insurance effected under this Act;
(iv)complying with any notice or order given or made by the local authority in respect of periodical inspection of any building in the development area in the manner as specified in the Street, Drainage and Building Act 1974;
(v) minor painting work on premises of the common property;
(vi) carrying out inspection of all electrical wiring systems of the common property and replacing or repairing any faulty wiring system, if any;
(vii)carrying out inspection, maintenance and repair of the main water tanks;
(viii) paying rent and rates, if any;
(ix) paying any fee incurred for the auditing of the accounts required to be maintained by the developer under this Act;
(x) paying all charges reasonably incurred for the administration of the accounts required to be maintained by the developer under this Act as may be determined by the Commissioner;
(xi) paying the remuneration or fees for the managing agent appointed under Part VI;
(xii) paying any expenses, costs or expenditure in relation to the procurement of services, including the engagement of consultants, legal fees or costs and other fees and costs, properly incurred or accepted by the developer in the performance of its functions and the exercise of its powers under this Act; or
(xiii) meeting other expenses of a general or regular nature relating to the maintenance and management of the building or land intended for subdivision into parcels and the common property.

17. Establishment of a joint management body
(1) A joint management body shall be established upon the convening of the first annual general meeting of that joint management body—
(a) if vacant possession was delivered before the commencement of this Act, not later than twelve months from the commencement of this Act; or
(b) if vacant possession is delivered after the commencement of this Act, not later than twelve months from the date of delivery of vacant possession of a parcel to a purchaser.
(2) The joint management body established by subsection (1) shall be a body corporate having perpetual succession and a common seal.
(3) The joint management body may sue and be sued in its name.
(4) The joint management body shall comprise the developer and the purchasers.
(5) If the management corporation comes into existence before the first annual general meeting of the joint management body specified in subsection (1) is convened—
(a) the first annual general meeting shall not be required to be convened and no joint management body shall be established for that development area; and
(b) the provisions in Part V of this Act shall apply to the development area.

18. Duty of developer to convene first annual general meeting of joint management body
(1) It shall be the duty of the developer to convene the first annual general meeting of the joint management body within the period specified in subsection 17(1).
(2) Any developer who fails to comply with subsection (1) commits an offence and shall, on conviction, be liable to a fine not exceeding two hundred and fifty thousand ringgit or to imprisonment for a term not exceeding three years or to both.
(3) The developer shall give written notice of the first annual general meeting of the joint management body to all purchasers not less than fourteen days before the meeting, and a copy of such written notice shall be displayed at a conspicuous part of the development area.
(4) The developer shall prepare and place before the first annual general meeting of the joint management body for consideration an annual budget that sufficiently sets the expected and estimated expenditure required to properly maintain and manage the buildings or lands intended for subdivision into parcels and the common property which shall be for a period of twelve months starting on the first day of the month following the date of the first annual general meeting.
(5) If the developer fails to convene the first annual general meeting of the joint management body within the period specified in subsection 17(1), the Commissioner may appoint any person to convene the first annual general meeting of the joint management body within such time as may be specified by the Commissioner, and the developer shall pay all the expenses incurred for that purpose.