Malaysia's House of Representatives (Dewan Rakyat) has approved the new amendments to the Strata Titles Act, mandating the simultaneous issuance of strata titles and vacant possession (VP) to home-buyers, reported The Sun Daily.
According to Natural Resources and Environment Minister Datuk Seri Douglas Uggah Embas, the Strata Title (Amendment) Bill of 2012 aims to address the problems encountered when applying for and registering strata titles for buildings occupied before 1996.
The latest amendment to the Strata Title Act 1985 follows four previous revisions in 1990, 1996, 2001 and 2007.
Uggah noted that since the introduction of the Strata Titles Act 27 years ago, Malaysia's land administration has registered over 970,000 strata titles comprising more than 15,000 multi-storey buildings.
Apart from safeguarding the rights of strata unit buyers, the ministry will also impose stringent penalties to ensure that developers will abide with the law. For instance, Section 8 of the newly amended Strata Titles Act compels state authorities to act against developers who fail to apply for such titles, especially for old buildings.
If convicted, a developer could face a jail sentence of up to three years and a fine not exceeding RM100,000, added Uggah.
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