Transfer of apartments to be subject to the Provisions of the Land Transfer Act

Notwithstanding anything contained in this Act, the transfer of apartment or any other matter concerning thereto shall be subject to the Land Transfer Act.

Annexure-I. Annexure-I [See Section -18]

The Model Bye-Laws:

Every association shall make its bye laws in accordance with the model bye-laws. The model bye laws prescribed under the Apartment Ownership Act, shall provide for the following among other matters, namely:-

a) the manner in which the association is to be formed;

b) the composition of a management committee;

c) the election of the members of the management committee, with provision that one-third of members of the management committee shall retire annually;

d) the powers and duties of the management committee;

e) the honorarium if any of the members of the management committee;

f) the method of removal from office of the members of the management committee;

g) method of calling meetings of the association and of the management committee and the number of members of the association or the management committee who shall constitute a quorum for such meetings;

h) such other matters as may are required to be, or may be provided for in the bye – laws.

i) election of a president of the association, who shall preside over the meetings of the association and of the management committee;

j) election of a secretary to the association, who shall keep two separate minutes books, one for the association and the other for the management committee, and shall record in the respective minutes books the resolutions adopted by the association or the management committee, as the case may be;

k) election of a treasurer, who shall keep the financial records and book of accounts of the association;

l) maintenance, repair and replacement of the common areas and facilities and payment thereon;

m) manner of collecting from the apartment owners or any other occupants of apartments, their share of the common expenses;

n) engagement and removal of persons employed for the administration, management, maintenance, repair and replacement of the property and the common areas and facilities.

o) regulations with regard to the use and maintenance of the apartment and the common areas and facilities, with such restrictions thereon as may be necessary to prevent unreasonable interference in the use thereof by other apartment owners.

p) the regulation of transfer or partition of an apartment and the percentage of undivided interest in the common areas and facilities appurtenant to such apartment, subject to the provisions of this Act and such terms and conditions as may be specified in the bye laws;

q) the name of the person to receive service of process in any action against the association or the management committee of more than one apartment owner, together with the residence or place of business of such person;

r) the manner in which the bye – laws may be amended;

s) any matter which may be required by the government to be provided for the bye-laws for the proper or better administration of the property;

The bye-laws framed under sub-section

1. (i) may also contain provisions, not inconsistent with the Act, a) enabling the management committee to retain/areas of the building so for commercial purposes and to grant lease of the areas so retained, and to apply the proceeds of such lease for the reduction of the common expenses for maintaining the building and the common areas and facilities, and if any surplus is left after meeting such expenses, to distribute such surplus to the apartment owners as income; b) relating to the audit of the accounts of the association and of the administration of the property; c) specifying the times at which and the manner in which annual general meetings and special meetings of the association shall be held and conducted; d) specifying the time at which and the manner in which the annual report relating to the activities of the association shall be submitted; e) specifying the manner in which the income derived and expenditure incurred by the association shall be dealt with, or as the case may be, accounted for.