Allocated Shared Units & Refund of Payment
May I ask if we owners of strata property can get back any refund from the JMB on Maintenance and Sinking Fund from the difference between sq ft and allocated share units conversion?
The share units shall be effective once it has been assigned and approved by the Director of Land and Mines.
Once the allocated share units have been assigned to each parcel, approved by the Land and Mines Office (Pejabat Tanah dan Galian, PTG) and filed with the COB, the JMB or MC can call for a AGM or EGM to approve the new charges base on the allocated share units.
All previous charges base on parcel floor area shall not be subject to any adjustment.
Strata Management Act (Act 757)
- (1) Where the sale of a parcel by a developer was made before the commencement of this Act and no share units have been assigned to each parcel by the developer’s licensed land surveyors, the share units for each parcel shall be assigned by any person or body who has a duty or is responsible under this Part to maintain and manage any building or land intended for subdivision into parcels and the common property in accordance with the formula set out in the First Schedule, and such assignment shall be deemed to be the allocated share units of each parcel when the assignment is filed with the Commissioner.
- (2) The allocated share units assigned to each parcel by the developer’s licensed land surveyors or the share units for each parcel assigned pursuant to subsection (1) shall be deemed to be the allocated share units assigned to each parcel for the purpose of this Part until such time as the share units of each parcel have been approved by the Director pursuant to section 18 of the Strata Titles Act 1985.
- Section 18 of the Strata Titles Act 1985 stated that every parcel shall have a share value as approved by the Director and expressed in whole numbers to be known as share units
- Director means the Director of the Lands and Mines for the State or the Federal Territory and includes a Deputy Director of Lands and Mines [Section 4, SMA] brasil-libido.com