Under Article (30), a separate account must be maintained for the cash reserve intended for emergencies. These funds cannot be used without RERA�s prior approval, except in critical situations. If this reserve is not sufficient to cover an emergency…
Under Article (30), a separate account must be maintained for the cash reserve intended for emergencies. These funds cannot be used without RERA�s prior approval, except in critical situations. If this reserve is not sufficient to cover an emergency expense, Article (30) empowers the DLD to request owners to cover the shortfall, provided RERA gives its consent. This mechanism ensures that the building remains safe and operational even during financial shortfalls.
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