Measures for the Administration of Residential Special Maintenance Funds Article 1 The significance of the Regulations on Special Maintenance Funds is to ensure the maintenance and normal use of equipment and facilities in residential areas and safeguard the legitimate rights and interests of owners of residential special maintenance funds.
Paragraph 2 of Article 2 stipulates that the term "residential special maintenance funds" as mentioned in these Measures refers to the funds earmarked for the maintenance, renewal and transformation of residential parts and public facilities and equipment after the expiration of the warranty period.
To sum up, fund and fund are two different legal concepts. Funds can only use interest but not principal, and funds can use both interest and principal.
Article 17 stipulates that if the balance of the special maintenance fund of the owner's individual residence is less than 30% of the initial deposit, it shall be renewed in time.
If the owners' meeting is established, the renewal plan shall be decided by the owners' meeting.
If the owners' meeting is not established, the specific management measures for the renewal of the lease shall be formulated by the construction and real estate departments of the municipal and county people's governments in conjunction with the financial departments at the same level.