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[Cites 0, Cited by 0] [Section 20(5)] [Section 20] [Entire Act]

State of Punjab - Subsection

Section 20(5)(a) in The Punjab Apartment Ownership Act, 1995

(a)enabling the Board subject to the building regulations to retain certain areas of the building for commercial purposes and to grant lease of the areas so retained, and to apply the proceeds of such lease for the reduction of the common expenses for maintaining the building and the common areas and facilities, and if any surplus is left after meeting such expenses to distribute such surplus to the apartment owners as income;