6. First meeting of Joint Management Body
The agenda for the first meeting of the Body shall include the following matters:
(a) the election of the office bearers of the Committee as provided for in subsection 11(2);
(b) to confirm the taking over by the Body of insurances effected by the developer;
(c) subject to subsection 23(2), to determine the amount to be paid by the purchasers to the Building Maintenance Fund for the maintenance and management of the common property of the building;
(d) the determination of the rate of interest payable by a purchaser in respect of late payment charges; and
any matter connected with the maintenance and management of the common property of the building.
(2) The quorum of the first meeting of the Body shall be one-quarter of the purchasers who have paid maintenance charges in respect of their parcels to the Building Maintenance Accounts (“members entitled to vote”) of the developer.
(3) If within half an hour after the time appointed for the meeting, a quorum is not present, the members entitled to vote who are present shall constitute a quorum.
(4) All resolutions at the first meeting of the Body shall be decided by a show of hands.
(5) Notwithstanding subsection (4), joint purchasers shall not be entitled to vote except by way of a jointly appointed proxy.
(6) In the event of an equality of votes, the chairman shall have a casting vote.
Where an hour after the time appointed for the meeting, no member entitled to vote turns up or all the members present, for any reason, refuse to be the office bearers of the Committee, the developer shall, within seven days of the date of the meeting, inform the Commissioner of the fact and the Commissioner may –
appoint a new date for the first meeting of the Body; or
appoint a managing agent under subsection 25(1) to maintain the common property of the building.