
Building and Construction Authority
IRAS
Ministry Of Finance
Singapore Land Authority
www.tanchan-cpa.com
www.dni-secretarial.com
www.dni-consulting.com
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LEVIES
CONTRIBUTIONS (S 42)
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Contributions levied by Management Corporation in respect
of each lot is payable by Subsidiary Proprietor in shares proportional
to the share value of their respective lots.
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Contributions payable
by the Subsidiary Proprietor of a proposed lot shall, during
the period when erection is still in progress,
be reduced by 75%. (S41 (1))
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Where a lot has been subdivided
into 2 or more lots, the Management Corporation may levy additional
contribution subject to approval.
(S41 (3a))
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A person who has ceased as Subsidiary Proprietor
of the lot shall only be liable to pay contribution unpaid at
the time he
ceased as a Subsidiary Proprietor and interest accruing on unpaid contribution
until such time as it is paid.
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Contribution levied shall
become due and payable to Management Corporation within 30 days,
failure to do so, an interest
at rate determined by Management Corporation will be imposed after the
expiry of the 30 days, unless Management Corporation
determines in General Meeting, no interest chargeable.
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Contribution
levied unpaid may, together with such interest due, re recovered
as a debt by the Management Corporation
in any Court of competent jurisdiction.
Updated
January 2006
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