STAMP DUTY (REMISSION) (NO.4) ORDER 2000

STAMP DUTY (REMISSION) (NO.4) ORDER 2000

 

IN exercise of the powers conferred by subsection 80(2) 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 (Remission) (No. 4) Order 2000.

(2)     This Order comes into operation on 1 January 2001.

Interpretation

2.  For the purpose of this Order-

"local broker" means a holder of a dealer's licence under subsection 12(1) of Part IV of the Securities Industry Act 1983 [Act 280];

"foreign investor" means an investor who is non-resident under the Exchange Control of Malaysia Notice (ECMI).

Remission

3.  The stamp duty payable on all instruments of contract notes relating to the sale of any shares, stock or marketable securities which are listed on a stock market of a stock exchange approved under subsection 8(2) of the Securities Industry Act 1983 between a local broker and a foreign investor is remitted:

Provided that the abovesaid remission applies to a stamp duty that is in excess of RM200.00 calculated at the prescribed rate under Item 31 of the First Schedule to the Act.

 

Made 29 December 2000.

[Perb. CR (8.20) 116/1-138 (2001) Vol. 2 (SK. 3) (7); LHDN. 01/34/42/68-180-2 (4/2000); PN (PU2) 159/XXIV]

 

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

CHAN KONG CHOY

Deputy Minister of Finance