S 199
BUILDING MAINTENANCE AND STRATA MANAGEMENT ACT 2004
(ACT 47 OF 2004)
BUILDING MAINTENANCE AND STRATA MANAGEMENT (STRATA MANAGEMENT ACCOUNTS —
EXEMPTION) ORDER 2005
In exercise of the powers conferred by section 134 (1) of the Building
Maintenance and Strata Management Act 2004, the Minister for National
Development hereby makes the following Order:
1
Citation and commencement
2
Exemption for management corporation with 4 or fewer lots
3
Exemption for management corporation with 4 or fewer subsidiary
proprietors
4
Exemption from annual audit by public accountant
S 199
BUILDING MAINTENANCE AND STRATA MANAGEMENT ACT 2004
(ACT 47 OF 2004)
BUILDING MAINTENANCE AND STRATA MANAGEMENT (STRATA MANAGEMENT ACCOUNTS —
EXEMPTION) ORDER 2005
In exercise of the powers conferred by section 134 (1) of the Building
Maintenance and Strata Management Act 2004, the Minister for National
Development hereby makes the following Order:
Citation and
commencement
1. This Order may be cited as the
Building Maintenance and Strata Management (Strata Management Accounts —
Exemption) Order 2005 and shall come into operation on 1st April 2005.
Exemption for management
corporation with 4 or fewer lots
2. A
management corporation for a strata title plan with 4 or fewer lots shall be
exempt from section 45 (1) of the Act.
Exemption for management
corporation with 4 or fewer subsidiary proprietors
3.
Where a management corporation is constituted by 4 or fewer
subsidiary proprietors for the whole of any financial year of the management
corporation, that management corporation shall be exempt from section 45 (1)
of the Act only so far as that section requires its books and accounts in
respect of that financial year to be audited.
Exemption from annual audit by
public accountant
4. A management corporation
for a strata title plan with at least 5 but not more than 10 lots shall be
exempt from section 45 (2) of the Act in respect of its books and accounts for
any financial year where, pursuant to a resolution by consensus, the
management corporation approves that its books and accounts in respect of that
financial year may be audited by any of its subsidiary proprietors in place of
a public accountant within the meaning of the Companies Act (Cap. 50).
Made this 18th day of March 2005.
TAN TEE HOW
Permanent Secretary,
Ministry of National
Development,
Singapore.
[ND 311/13-301 Vol. 6; AG/LEG/SL/30C/2004/5 Vol. 1]