Olivia Mitchell (Dublin South, Fine Gael)
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Question 167: To ask the Minister for Justice and Equality if he intends to make regulations under section 19, sinking funds, of the Multi-Unit Developments Act; if that section has actually been commenced; and if he will make a statement on the matter. [27828/11]

Alan Shatter (Dublin South, Fine Gael)
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The position is that section 19 of the Multi-Unit Developments Act 2011 entered into operation on 1 April 2011. It requires an owners' management company to establish a sinking fund for the purpose of discharging expenditure incurred in respect of the refurbishment and improvement of the multi-unit development, as well as maintenance of a non-recurring nature.

While section 19 contains general provisions in relation to the establishment of a sinking fund and the obligations on unit owners to make contributions to it, subsection (9) makes provision for possible regulations setting out more detailed rules in relation to procedural and operational matters. To date, my Department has not received any requests from relevant stakeholders to make such detailed rules. However, if experience gained from the operation of section 19 indicates that more detailed rules would be helpful to owners' management companies, I would have no hesitation in making such regulations.