20. PAYMENTS OF LEVIES AND CONTRAVENTIONS

Payment in full of any levy and services account raised in terms of the Sectional Titles Act must be received by the MBC by the 1st (and no later than the 7th) of each and every month.

Interest is payable on overdue accounts at such rate as decided upon from time to time at the Annual General Meeting of the scheme; provided that the interest rate must not exceed the maximum rate of interest payable per annum under the National Credit Act (No 34 of 2005), compounded monthly in arrears.

Should any residents experience any discrepancy with regards to monies indicated on their levy statement, they must within 7 (seven) days of the applicable month, provide a written explanation of the discrepancy to the Trustee Board.

Any residents, who pay their levy by way of depositing such payments into the MBC’s bank account, and such levies are not reflected on their levy statement the following month, must confirm such payments by means of providing a copy of the deposit slip as proof of payment to the Trustee Board.

Residents failing to pay their MBC account in time may at the discretion of the Trustee Board be handed over to the MBC attorney.

A resident shall be liable for and pay the additional administration charges for any contravention/s of these Conduct Rules contravened by the resident or the cost to clean or reinstate the common property.

No resident shall be entitled for any reason whatsoever to withhold any monies to the MBC.

Where any resident is more than 2 (two) months in arrear with their levy or other charges, the Trustee Board may discontinue or limit any of the services provided by the MBC to a section, other than the statuary required services. The resident shall be given 7 (seven) days’ notice which shall be delivered to the resident by electronic mail or message, or post or a copy delivered to the unit which is their domicilium.

A resident shall be liable for all legal costs, including costs as between attorney and client, collection commission per the Debt Collectors Act, expenses and charges incurred by the MBC in recovering arrear levies, or in enforcing compliance with these Conduct Rules. Such legal fees, once taxed or agreed upon, shall be regarded as a levy and may be added to the relevant resident’s levy account.