STAMP DUTY (EXEMPTION) (NO. 2) ORDER 2004 [P.U. (A) 19]

STAMP DUTY (EXEMPTION) (NO. 2) ORDER 2004 [P.U. (A) 19]

(Gazetted on 8 January, 2004)

 

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. 2) Order 2004.

 

(2) This Order is deemed to have come into operation on 13 September, 2003

 

Exemption

 

2. All instruments of an Asset Sale Agreement or an Asset Lease Agreement executed between a customer and a financier made under the principles of the Syariah for the purpose of renewing any Islamic revolving financing facility

are exempted from stamp duty if the instrument for the existing Islamic revolving financing facility had been duly stamped.

 

 

Made 17 December 2003

[Perb. CR(8.09)294/6/4-9 (SJ. 5) Vol. 3(Sk. 5); LHDN. 01/34/(S)/42/68-100-3-1(2003); PN(PU²)159/XXIX]

 

On behalf and in the name of the Minister of Finance

 

                                                                                                                             DR. NG YEN YEN

            Deputy Minister of Finance II