STAMP DUTY (REMISSION) (NO.4) ORDER 1999

STAMP DUTY (REMISSION) (NO.4) ORDER 1999

 

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 1999.

(2)     This Order shall be deemed to have come into operation on 1 November 1998.

Interpretation

2.  For the purpose of this Order -

"authorised nominee" has the meaning assigned to it under subsection 2(1) of the Securities Industry (Central Depositories) Act 1991 [Act 453];

"foreign broker" means a person who carries on the business of a stockbroker outside Malaysia;

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

Remission

3.  The stamp duty payable upon instruments of contract notes relating to the sale of any shares, stocks or marketable securities in companies incorporated in Malaysia or elsewhere between a local broker and an authorised nominee on behalf of a foreign broker 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.

Revocation

4.  The Stamp Duty (Remission) (No. 7) Order 1995 [P. U. (A) 259/95] published on 20 July 1995 is revoked.

 

Made 30 July 1999.

[Perb. R(8. 09) 248/40/7-1 Vol. 2 (sk. 3) ; LHDN. 01/34/42/68-180-2 (3/99) ; PN(PU2) 159/XXI]

 

DATO' MUSTAPA BIN MOHAMED

Second Minister of Finance

STAMP DUTY (REMISSION) (NO.3) 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

1.  This order may be cited as the Stamp Duty (Remission) (No. 3) Order 2000.

Remission

2.  The duty on any instrument of asset sale agreement for a loan executed between a customer and a financier under the syariah law pursuant to the change of scheme for financing an existing loan from conventional to syariah is remitted to the extent of the duty that would be payable on the balance of the principal amount of the existing loan:

Provided that the instrument for the existing loan had been duly stamped under item 22 or 27 of the First Schedule to the Act.

3.  For the purpose of this Order, the asset sale agreement shall contain-

(a)     the name of the financial institution from which the existing loan was originally obtained; and

(b)     the balance of the principal amount of the existing loan.

Revocation

4.  The Stamp Duty (Exemption) Order 1996 [P. U. (A) 62/96] published on 15 February 1996 is revoked.

 

Made 29 July 2000.

[Perb. CR (8. 08) 248/39/7-88 Vol. 5; LHDN. 01/34/42/68-180-2(1/2000) ;

PN(PU2) 159/XXIII]

 

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

CHAN KONG CHOY

Deputy Minister of Finance

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

STAMP DUTY (REMISSION) ORDER 2001

STAMP DUTY (REMISSION) ORDER 2001

 

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) Order 2001.

(2)     This Order shall be deemed to have come into operation on 24 October 1998.

Interpretation

2.  In this Order, "financial institution" means a bank or a finance company licensed under the Banking and Financial Institutions Act 1989 [Act 372] or under the Islamic Banking Act 1983 [Act 276], or Bank Kerjasama Rakyat Malaysia Berhad, or Bank Pembangunan dan Infrastruktur Malaysia Berhad.

Remission

3.  The duty on any instrument of-

(a)     a term loan agreement executed between a borrower and a financial institution; or

(b)     an asset sale agreement for a term loan under syariah law executed between a customer and a financial institution,

for the purpose of refinancing any existing term loan, is remitted to the extent of the duty that would be payable on the balance of the principal amount of the existing term loan:

Provided that the existing term loan was obtained for the purposes of a business, other than for working capital, and the instrument for the existing term loan had been duly stamped under item 22 or 27 of the First Schedule to the Act.

4.  For the purpose of this Order, the term loan agreement or the asset sale agreement shall contain-

(a)     the name of the financial institution or the Islamic financial institution from which the existing term loan was originally obtained; and

(b)     the balance of the principal amount of the existing term loan.

Revocation

5.  The Stamp Duty (Remission) Order 1999 [P. U. (A) 21/99] published on 14 January 1999 is revoked.

 

Made 10 January 2001.

[Perb. CR(8. 09) 248/39/7-217(SK. 2) ; LHDN. 01/34/42/68-180-2(2/2000) ; PN(PU2) 159/XXIV]

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

 

CHAN KONG CHOY

Deputy Minister of Finance