—(1) Where, pursuant to an application by a management corporation, a subsidiary management corporation, a subsidiary proprietor or a mortgagee in possession (whether by himself or another person), a Board considers that any amount levied or proposed to be levied by way of contributions —
is inadequate or excessive or the manner of payment of contributions is unreasonable, the Board may make either or both of the following orders:
an order for the payment of contributions of a different amount with effect from such date as the Board determines;
an order for the payment of contributions in a different manner.
(2) Where an order of a Board under subsection (1) takes effect in relation to a contribution levied by a management corporation or subsidiary management corporation, as the case may be, that has been wholly or partly paid in respect of a lot, the management corporation or subsidiary management corporation shall be deemed to have imposed a levy of the amount determined by the Board with effect from such date as the Board determines.
(3) Notwithstanding section 40(2), an order may be made by a Board under subsection (1) for the payment of any amount which the Board thinks is fair and adequate.
(4) For the avoidance of doubt, nothing in this section shall authorise any Board to alter the share value of any lot shown in a strata title plan in any manner on or after the date the management corporation is constituted.
[LT(S)A, s. 99]