Ivana Bacik (Independent)

I put this badly. The three-year timeframe is the difficulty. Section 15(6) states, "The obligation to establish a sinking fund and to make contributions shall apply on the happening of the later" of three years or "18 months since the coming into operation of this section". Clearly by then the developer should have exited. Should good estate management practice not be that the sinking fund should commence from the first year of occupation of the development? There is potential for significant refurbishment, improvements, etc., in the first three years. If the developer does not pay a contribution because he or she is out of the picture by the time the fund is established, should the fund come into operation sooner? Perhaps it is not necessary for the developer to pay if he or she has exited but three years is a long time to wait for refurbishments and so on.