STAMP DUTY (EXEMPTION) (NO.33) ORDER 1999

STAMP DUTY (EXEMPTION) (NO.33) ORDER 1999

 

IN exercise of the powers conferred by subsection 80(1) of the Stamp Act 1949 [Act 378], the Minister makes the following order:

Citation and commencement

1.  (1)     This order may be cited as the Stamp Duty (Exemption) (No. 33) Order 1999.

(2)     This Order shall be deemed to have come into operation on 10 June 1998.

Interpretation

2.  In this Order, "low cost house" means a unit of house built within a Low Cost Housing project approved by State Government or the appropriate authority, in respect of the Federal Territory of Kuala Lumpur or Labuan and

(a)     if situated in Peninsular Malaysia, sold at a price not exceeding RM42,000. 00; or

(b)     if situated in Sabah, Sarawak or the Federal Territory of Labuan, sold at a price not exceeding RM47,000. 00.

Exemption

3. All instruments of securities for the finance of the purchase of a low cost house is exempted from stamp duty.

Revocation

4. The Stamp Duty (Exemption) Order 1986 [P. U. (A) 26/86, P. U. (A) 27/86, P. U. (A) 28/86] published on 6 February 1986 are revoked.

 

Made 15 October 1999.

[Perb. CR (8. 09) 248/39/7-90 VOL. 4 (SK. 1) (11) ;

LHDN. 01/34/42/68-180-1(3/99) ; PN(PU2) 159/XXII]

DATO' MUSTAPA BIN MOHAMED

Second Minister of Finance