Common use of Management Expenses Clause in Contracts

Management Expenses. Manager to prepare annual budget (1) For the purpose of fixing contributions towards the Management Expenses payable by the Owners (excluding the Owner of the Government Accommodation) the Manager shall prepare an annual budget showing the estimated expenditure necessarily and reasonably incurred in the course of proper and efficient management of the Development. The annual budgets, except the first one, are to be prepared in consultation with the Owners' Committee. (2) The estimated Management Expenses shall be payable by way of equal monthly payments in advance with adjustments to be made at the end of each financial year when the final annual Management Expenses are ascertained. Annual budget to be in four parts (3) The annual budget showing the Management Expenses for the Common Areas and the Common Facilities shall be divided into four parts :- (a) Part A shall cover estimated expenditure in respect of the Development Common Areas and the Development Common Facilities and any expenditure which does not fall under Part B, Part C or Part D mentioned in sub-paragraph (b), (c) and (d) below PROVIDED THAT if the construction of only part of the Development has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part A shall only cover such part of the Development; (b) Part B shall cover estimated expenditure in respect of the Commercial Common Areas and the Commercial Common Facilities PROVIDED THAT if the construction of only part of the Commercial Accommodation has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part B shall only cover such part of the Commercial Accommodation; (c) Part C shall cover estimated expenditure in respect of the Residential Common Areas and the Residential Common Facilities PROVIDED THAT if the construction of only part of the Residential Accommodation has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part C shall only cover such part of the Residential Accommodation; and (d) Part D shall cover estimated expenditure in respect of the Carpark Common Areas and the Carpark Common Facilities PROVIDED THAT if the construction of only part of the Carpark has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part D shall only cover such part of the Carpark. PROVIDED THAT in the event that one or more Sub-Deed(s) is/are entered into in respect of any part or parts of the Development and in the Sub-Deed(s) new categories of any areas and facilities are designated as common areas and common facilities as a consequence of which the same thereby become part of the Common Areas and Common Facilities (other than the existing designated Common Areas and Common Facilities) new part(s) of the annual budget shall be established by the Manager such part(s) to cover all estimated expenditure which in the opinion of the Manager is specifically referable to such new categories of common areas and common facilities and such expenditure shall be borne by the Owners of that/those part(s) of the Development. (a) The costs and expenses in connection with the carrying out of all or any of the duties of the Manager as set out in Section V hereof; (b) The Manager’s Remuneration and the provision of provident and retirement fund for such staff referred to in Clause 1(ag) of Subsection (B) of Section V hereof, but not further or otherwise; (c) The charges for electricity, water, gas, telecommunication telephone and all other charges, assessments, impositions and other outgoings payable in connection with the Common Areas and the Common Facilities and insurance premiums payable on any policy taken out by the Manager as hereinbefore provided and any other expenses charged or assessed on or payable in respect of the Common Areas and Common Facilities;

Management Expenses. (a) Subject to sub-clauses (c), (e), (f) and (h) of this Clause, the total amount of management expenses payable by the Owners during any period of twelve (12) months adopted by the Manager as the financial year in respect of the management of the Development shall be the total proposed expenditure during that year as specified by the Manager in accordance with sub-clause (b) of this Clause. (b) In respect of each financial year, the Manager shall :- (i) prepare a draft budget setting out the proposed expenditure during the financial year; (ii) send a copy of the draft budget to the Owners' Committee or, where there is no Owners' Committee, display a copy of the draft budget in a prominent place in the Development, and cause it to remain so displayed for at least seven (7) consecutive days; (iii) send or display, as the case may be, with the copy of the draft budget a notice inviting each Owner to send his comments on the draft budget to the Manager within a period of fourteen (14) days from the date the draft budget was sent or first displayed; (iv) after the end of that period, prepare a budget specifying the total proposed expenditure during the financial year; (v) send a copy of the budget to the Owners' Committee or, where there is no Owners' Committee, display a copy of the budget in a prominent place in the Development, and cause it to remain so displayed for at least seven (7) consecutive days. (c) Where, in respect of a financial year, the Manager has not complied with sub- clause (b) of this Clause before the start of that financial year, the total amount of the management expenses for that year shall :- (i) until he has so complied, be deemed to be the same as the total amount of management expenses (if any) for the previous financial year; (ii) when he has so complied, be the total proposed expenditure specified in the budget for that financial year, and the amount that the Owners shall contribute towards the management expenses shall be calculated and adjusted accordingly. (d) Where a budget has been sent or displayed in accordance with sub-clause (b)(v) of this Clause and the Manager wishes to revise it, it shall follow the same procedures in respect of the revised budget as apply to the draft budget and the budget by virtue of sub-clause (b) of this Clause. (e) Where a revised budget is sent or displayed in accordance with sub-clause (d) of this Clause, the total amount of the management expenses for that financial year shall be the total expenditure or proposed expenditure specified in the revised budget and the amount that Owners shall contribute towards the management expenses shall be calculated and adjusted accordingly. (f) If there is an Owners' Corporation and, within a period of one (1) month from the date that a budget or revised budget for a financial year is sent or first displayed in accordance with sub-clause (b) or (d) of this Clause, the Owners' Corporation decides, by a resolution of the Owners, to reject the budget or revised budget, as the case may be, the total amount of management expenses for the financial year shall, until another budget or revised budget is sent or displayed in accordance with sub-clause (b) or (d) of this Clause and is not so rejected under this sub-clause, be deemed to be the same as the total amount of management expenses (if any) for the previous financial year, together with an amount not exceeding 10% of that total amount as the Manager may determine. (g) If any Owner requests in writing the Manager to prepare annual supply him with a copy of any draft budget, budget or revised budget, the Manager shall, on payment of a reasonable copying charge, supply a copy to that person PROVIDED THAT on request the Manager shall provide FSI free of charge with copies of quarterly accounts, audited reports and budgets to justify the expenses incurred/estimated. The said accounts, reports, budgets, notices and demands shall be sent free of charge to the FSI by prepaid post or delivered by hand to the GPA or such other person and address nominated by the FSI in writing. (1h) For the purpose of fixing contributions towards the Management Expenses payable by the Owners (excluding the Owner of the Government Accommodation) the Manager shall prepare an annual budget showing the estimated expenditure necessarily this Clause 16, "expenditure" includes all costs, charges and reasonably incurred in the course of proper and efficient management of the Development. The annual budgets, except the first one, are expenses to be prepared in consultation with the Owners' Committee. (2) The estimated Management Expenses shall be payable by way of equal monthly payments in advance with adjustments to be made at the end of each financial year when the final annual Management Expenses are ascertained. Annual budget to be in four parts (3) The annual budget showing the Management Expenses for the Common Areas and the Common Facilities shall be divided into four parts :- (a) Part A shall cover estimated expenditure in respect of the Development Common Areas and the Development Common Facilities and any expenditure which does not fall under Part B, Part C or Part D mentioned in sub-paragraph (b), (c) and (d) below PROVIDED THAT if the construction of only part of the Development has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part A shall only cover such part of the Development; (b) Part B shall cover estimated expenditure in respect of the Commercial Common Areas and the Commercial Common Facilities PROVIDED THAT if the construction of only part of the Commercial Accommodation has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part B shall only cover such part of the Commercial Accommodation; (c) Part C shall cover estimated expenditure in respect of the Residential Common Areas and the Residential Common Facilities PROVIDED THAT if the construction of only part of the Residential Accommodation has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part C shall only cover such part of the Residential Accommodation; and (d) Part D shall cover estimated expenditure in respect of the Carpark Common Areas and the Carpark Common Facilities PROVIDED THAT if the construction of only part of the Carpark has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part D shall only cover such part of the Carpark. PROVIDED THAT in the event that one or more Sub-Deed(s) is/are entered into in respect of any part or parts of the Development and in the Sub-Deed(s) new categories of any areas and facilities are designated as common areas and common facilities as a consequence of which the same thereby become part of the Common Areas and Common Facilities (other than the existing designated Common Areas and Common Facilities) new part(s) of the annual budget shall be established by the Manager such part(s) to cover all estimated expenditure which in the opinion of the Manager is specifically referable to such new categories of common areas and common facilities and such expenditure shall be borne by the Owners of that/those part(s) Owners, including the remuneration of the DevelopmentManager. (a) The costs and expenses in connection with the carrying out of all or any of the duties of the Manager as set out in Section V hereof; (b) The Manager’s Remuneration and the provision of provident and retirement fund for such staff referred to in Clause 1(ag) of Subsection (B) of Section V hereof, but not further or otherwise; (c) The charges for electricity, water, gas, telecommunication telephone and all other charges, assessments, impositions and other outgoings payable in connection with the Common Areas and the Common Facilities and insurance premiums payable on any policy taken out by the Manager as hereinbefore provided and any other expenses charged or assessed on or payable in respect of the Common Areas and Common Facilities;

Management Expenses. (a) Subject to sub-clauses (c), (e), (f) and (h) of this Clause, the total amount of management expenses payable by the Owners during any period of 12 months adopted by the Manager as the financial year in respect of the management of the Development shall be the total proposed expenditure during that year as specified by the Manager in accordance with sub-clause (b) of this Clause. (b) In respect of each financial year, the Manager shall :- (i) prepare a draft budget setting out the proposed expenditure during the financial year; (ii) send a copy of the draft budget to the Owners' Committee or, where there is no Owners' Committee, display a copy of the draft budget in a prominent place in the Development, and cause it to remain so displayed for at least 7 consecutive days; (iii) send or display, as the case may be, with the copy of the draft budget a notice inviting each Owner to send his comments on the draft budget to the Manager within a period of 14 days from the date the draft budget was sent or first displayed; (iv) after the end of that period, prepare a budget specifying the total proposed expenditure during the financial year; (v) send a copy of the budget to the Owners' Committee or, where there is no Owners' Committee, display a copy of the budget in a prominent place in the Development, and cause it to remain so displayed for at least 7 consecutive days. (c) Where, in respect of a financial year, the Manager has not complied with sub- clause (b) of this Clause before the start of that financial year, the total amount of the management expenses for that year shall :- (i) until it has so complied, be deemed to be the same as the total amount of management expenses (if any) for the previous financial year; (ii) when it has so complied, be the total proposed expenditure specified in the budget for that financial year, and the amount that the Owners shall contribute towards the management expenses shall be calculated and adjusted accordingly. (d) Where a budget has been sent or displayed in accordance with sub-clause (b)(v) of this Clause and the Manager wishes to revise it, it shall follow the same procedures in respect of the revised budget as apply to the draft budget and the budget by virtue of sub-clause (b) of this Clause. (e) Where a revised budget is sent or displayed in accordance with sub-clause (d) of this Clause, the total amount of the management expenses for that financial year shall be the total expenditure or proposed expenditure specified in the revised budget and the amount that Owners shall contribute towards the management expenses shall be calculated and adjusted accordingly. (f) If there is an Owners' Corporation and, within a period of one (1) month from the date that a budget or revised budget for a financial year is sent or first displayed in accordance with sub-clause (b) or (d) of this Clause, the Owners' Corporation decides, by a resolution of the Owners, to reject the budget or revised budget, as the case may be, the total amount of management expenses for the financial year shall, until another budget or revised budget is sent or displayed in accordance with sub-clause (b) or (d) of this Clause and is not so rejected under this sub-clause, be deemed to be the same as the total amount of management expenses (if any) for the previous financial year, together with an amount not exceeding 10% of that total amount as the Manager may determine. (g) If any Owner requests in writing the Manager to prepare annual supply him with a copy of any draft budget, budget or revised budget, the Manager shall, on payment of a reasonable copying charge, supply a copy to that person. (1h) For the purpose of fixing contributions towards the Management Expenses payable by the Owners (excluding the Owner of the Government Accommodation) the Manager shall prepare an annual budget showing the estimated expenditure necessarily this Clause 14, "expenditure" includes all costs, charges and reasonably incurred in the course of proper and efficient management of the Development. The annual budgets, except the first one, are expenses to be prepared in consultation with the Owners' Committee. (2) The estimated Management Expenses shall be payable by way of equal monthly payments in advance with adjustments to be made at the end of each financial year when the final annual Management Expenses are ascertained. Annual budget to be in four parts (3) The annual budget showing the Management Expenses for the Common Areas and the Common Facilities shall be divided into four parts :- (a) Part A shall cover estimated expenditure in respect of the Development Common Areas and the Development Common Facilities and any expenditure which does not fall under Part B, Part C or Part D mentioned in sub-paragraph (b), (c) and (d) below PROVIDED THAT if the construction of only part of the Development has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part A shall only cover such part of the Development; (b) Part B shall cover estimated expenditure in respect of the Commercial Common Areas and the Commercial Common Facilities PROVIDED THAT if the construction of only part of the Commercial Accommodation has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part B shall only cover such part of the Commercial Accommodation; (c) Part C shall cover estimated expenditure in respect of the Residential Common Areas and the Residential Common Facilities PROVIDED THAT if the construction of only part of the Residential Accommodation has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part C shall only cover such part of the Residential Accommodation; and (d) Part D shall cover estimated expenditure in respect of the Carpark Common Areas and the Carpark Common Facilities PROVIDED THAT if the construction of only part of the Carpark has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part D shall only cover such part of the Carpark. PROVIDED THAT in the event that one or more Sub-Deed(s) is/are entered into in respect of any part or parts of the Development and in the Sub-Deed(s) new categories of any areas and facilities are designated as common areas and common facilities as a consequence of which the same thereby become part of the Common Areas and Common Facilities (other than the existing designated Common Areas and Common Facilities) new part(s) of the annual budget shall be established by the Manager such part(s) to cover all estimated expenditure which in the opinion of the Manager is specifically referable to such new categories of common areas and common facilities and such expenditure shall be borne by the Owners of that/those part(s) Owners, including the remuneration of the DevelopmentManager. (a) The costs and expenses in connection with the carrying out of all or any of the duties of the Manager as set out in Section V hereof; (b) The Manager’s Remuneration and the provision of provident and retirement fund for such staff referred to in Clause 1(ag) of Subsection (B) of Section V hereof, but not further or otherwise; (c) The charges for electricity, water, gas, telecommunication telephone and all other charges, assessments, impositions and other outgoings payable in connection with the Common Areas and the Common Facilities and insurance premiums payable on any policy taken out by the Manager as hereinbefore provided and any other expenses charged or assessed on or payable in respect of the Common Areas and Common Facilities;

Management Expenses. (a) Subject to sub-clauses (c), (e), (f) and (h) of this Clause, the total amount of management expenses payable by the Owners during any financial year in respect of the management of the Development shall be the total proposed expenditure during that year as specified by the Manager in accordance with sub-clause (b) of this Clause. (b) In respect of each financial year, the Manager shall :- (i) prepare a draft budget setting out the proposed expenditure during the financial year; (ii) send a copy of the draft budget to the Owners’ Committee or, where there is no Owners’ Committee, display a copy of the draft budget in a prominent place in the Development, and cause it to remain so displayed for at least 7 consecutive days; (iii) send or display, as the case may be, with the copy of the draft budget a notice inviting each Owner to send his comments on the draft budget to the Manager within a period of 14 days from the date the draft budget was sent or first displayed; (iv) after the end of that period, prepare a budget specifying the total proposed expenditure during the financial year; (v) send a copy of the budget to the Owners’ Committee or, where there is no Owners’ Committee, display a copy of the budget in a prominent place in the Development, and cause it to remain so displayed for at least 7 consecutive days. (c) Where, in respect of a financial year, the Manager has not complied with sub-clause (b) of this Clause before the start of that financial year, the total amount of the management expenses for that year shall :- (i) until he has so complied, be deemed to be the same as the total amount of management expenses (if any) for the previous financial year; (ii) when he has so complied, be the total proposed expenditure specified in the budget for that financial year, and the amount that the Owners shall contribute towards the management expenses shall be calculated and adjusted accordingly. (d) Where a budget has been sent or displayed in accordance with sub-clause (b)(v) of this Clause and the Manager wishes to revise it, he shall follow the same procedures in respect of the revised budget as apply to the draft budget and the budget by virtue of sub-clause (b) of this Clause. (e) Where a revised budget is sent or displayed in accordance with sub-clause (d) of this Clause, the total amount of the management expenses for that financial year shall be the total expenditure or proposed expenditure specified in the revised budget and the amount that Owners shall contribute towards the management expenses shall be calculated and adjusted accordingly. (f) If there is an Owners’ Corporation and, within a period of 1 month from the date that a budget or revised budget for a financial year is sent or first displayed in accordance with sub-clause (b) or (d) of this Clause, the Owners’ Corporation decides, by a resolution of the Owners, to reject the budget or revised budget, as the case may be, the total amount of management expenses for the financial year shall, until another budget or revised budget is sent or displayed in accordance with sub-clause (b) or (d) of this Clause and is not so rejected under this sub-clause, be deemed to be the same as the total amount of management expenses (if any) for the previous financial year, together with an amount not exceeding 10% of that total amount as the Manager may determine. (g) If any Owner requests in writing the Manager to prepare annual supply him with a copy of any draft budget, budget or revised budget, the Manager shall, on payment of a reasonable copying charge, supply a copy to that person. (1h) For the purpose of fixing contributions towards the Management Expenses payable by the Owners (excluding the Owner of the Government Accommodation) the Manager shall prepare an annual budget showing the estimated expenditure this Clause 14, “management expenses” means all expenses, costs and charges reasonably and necessarily and reasonably incurred in the course of proper and efficient management of the Development. The annual budgets, except the first one, are Development to be prepared in consultation with the Owners' Committee. (2) The estimated Management Expenses shall be payable by way of equal monthly payments in advance with adjustments to be made at the end of each financial year when the final annual Management Expenses are ascertained. Annual budget to be in four parts (3) The annual budget showing the Management Expenses for the Common Areas and the Common Facilities shall be divided into four parts :- (a) Part A shall cover estimated expenditure in respect of the Development Common Areas and the Development Common Facilities and any expenditure which does not fall under Part B, Part C or Part D mentioned in sub-paragraph (b), (c) and (d) below PROVIDED THAT if the construction of only part of the Development has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part A shall only cover such part of the Development; (b) Part B shall cover estimated expenditure in respect of the Commercial Common Areas and the Commercial Common Facilities PROVIDED THAT if the construction of only part of the Commercial Accommodation has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part B shall only cover such part of the Commercial Accommodation; (c) Part C shall cover estimated expenditure in respect of the Residential Common Areas and the Residential Common Facilities PROVIDED THAT if the construction of only part of the Residential Accommodation has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part C shall only cover such part of the Residential Accommodation; and (d) Part D shall cover estimated expenditure in respect of the Carpark Common Areas and the Carpark Common Facilities PROVIDED THAT if the construction of only part of the Carpark has been completed and the Consent to Assign or Certificate of Compliance in respect of which has been issued, Part D shall only cover such part of the Carpark. PROVIDED THAT in the event that one or more Sub-Deed(s) is/are entered into in respect of any part or parts of the Development and in the Sub-Deed(s) new categories of any areas and facilities are designated as common areas and common facilities as a consequence of which the same thereby become part of the Common Areas and Common Facilities (other than the existing designated Common Areas and Common Facilities) new part(s) of the annual budget shall be established by the Manager such part(s) to cover all estimated expenditure which in the opinion of the Manager is specifically referable to such new categories of common areas and common facilities and such expenditure shall be borne by the Owners of that/those part(s) including the remuneration of the DevelopmentManager. (a) The costs and expenses in connection with the carrying out of all or any of the duties of the Manager as set out in Section V hereof; (b) The Manager’s Remuneration and the provision of provident and retirement fund for such staff referred to in Clause 1(ag) of Subsection (B) of Section V hereof, but not further or otherwise; (c) The charges for electricity, water, gas, telecommunication telephone and all other charges, assessments, impositions and other outgoings payable in connection with the Common Areas and the Common Facilities and insurance premiums payable on any policy taken out by the Manager as hereinbefore provided and any other expenses charged or assessed on or payable in respect of the Common Areas and Common Facilities;