Developer refuse to convene first AGM to est JMB.
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 Jan 11 2016, 10:48 AM
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#1
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia  
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what are the maximum allowable intervals between AGM?
strictly 365 days or are there any tolerances? what are the implications of conducting subsequent AGM's beyond the required duration? Penalty? |
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Jan 11 2016, 10:59 AM
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#2
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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QUOTE(aurora97 @ Jan 11 2016, 10:56 AM) what are the maximum allowable intervals between AGM? thanks boss.strictly 365 days or are there any tolerances? section 17 SMA (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. what are the implications of conducting subsequent AGM's beyond the required duration? Penalty? section 18 SMA (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.  1st agm by developer done and dusted. it's the 2nd agm after formation of jmb which i'm worried about. the team is kinda weak and may have some hanky panky too. just wondering how to go about it since it's more than 12 months from the 1st agm. and any penalties may not be beneficial to the owners since it's penalising from one's own account, right? unless it's jail term for the committee? |
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Jan 11 2016, 11:35 AM
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#3
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All Stars
10,314 posts Joined: Dec 2009 From: Malaysia
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thanks boss for the speedy response.
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