STAMP DUTY (EXEMPTION) (NO.9) ORDER 2000

STAMP DUTY (EXEMPTION) (NO.9) ORDER 2000

 

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. 9) Order 2000.

(2)     This Order shall be deemed to have come into operation on 30 October 1999.

Exemption

2.  All instruments of the Asset Sale Agreement or the Asset Purchase Agreement executed between a customer and a bank made under the principles of the Syariah Law for the purpose of renewing any Islamic overdraft financing facility, if the instruments for the Islamic overdraft financing facility had been duly stamped, are exempted from stamp duty.

 

Made 22 February 2000.

[Perb. R(8.20) 116/1-138(2000) (Sk. 17); LHDN. 01/34/42/68-180-1(41/99);

PN(PU2)159/XXII]

 

On behalf and in the name of the Minister of Finance,

 

CHAN KONG CHOY

Deputy Minister of Finance