The Common Parts shall be managed pursuant to a law that shall be suitable with the type of property (Residential Neighbourhood - Building). The following provisions shall be among the provisions of this law:

1. Determine the Common Parts of the property, and each Real Estate Unit;

2. Controls for the use of the common and Detached Parts, and for making modifications thereto;

3. The management of the Common Parts by the Association BOD

4. Methods and controls for investing Common Parts and Owners Association funds;

5. Develop integrated financial governance mechanisms for the Association, to ensure (as the case may be) the following Clauses:

  a. Independent accounts for investment, general reserves, and operations, and continuous monitoring of these accounts;

  b. Timely collection of dues, with urgent and effective legal procedures;

  c. Auditing the disbursement of Association funds in accordance with approved accounting standards;

6. Establish controls and procedures for hiring specialised companies to do some work necessary for the property;

7. Any other issues for which a decision is issued by the Minister or stipulated by the guidelines stipulated in Article (5) of this Law.