Hi missylan,
MC is Management Corporation of the property formed by all subsidiary proprietors (owners are called subsidiary proprietors (SP) under the said Act) of the development and is formed to allow subsidiary proprietors to make decisions on and take charge of the affairs of the development with minimal interference from the authorities.
The duties of the MC are numerous and generally these are for the control, administration, maintenance and management of common property for the benefit of all subsidiary proprietors. The MC, for example, convene meetings to gather consensus on matters of concern, collect charges from subsidiary proprietors and operate the maintenance and sinking funds to ensure that the buildings and common property are always kept in a state of good and serviceable repair and in proper and clean condition. It also has to comply with the regulatory requirements of other public authorities.
A MC may, under a special resolution, make by-laws for regulating the control, management, administration, use and enjoyment of the building and the common property. Once by-laws are adopted and a copy of it is lodged with the Commissioner, it has binding effect on all the parties concerned. The MC or SP shall be entitled to apply to the court for an order to enforce the performance or the restrain the breach of any by-law.
The MC may also, by a resolution passed at a general meeting, appoint a managing agent (MA) and may, by instrument in writing, delegate its powers, duties and functions to him as provided in section 68 of the Land Titles (Strata) Act (Chapter 158), except for matters that may only be determined by the MC in general meetings. The MA shall then be liable for any contravention of the provisions of the Act in respect of the delegated duty.
More information on the duties of the MC can be found in the Land Titles (Strata) Act (Chapter 158), in particular section 48.
For more information on the importance of MC please read this link
http://www.bca.gov.sg/build_control/building_management/mcst/faq/mm_faq.html