STAMP DUTY (EXEMPTION) (No. 12) ORDER 2001

STAMP DUTY (EXEMPTION) (No. 12) ORDER 2001

P.U. (A) 226 [Warta No. 15 - 30 hb Julai 2001]

 

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. 12) Order 2001.

 

(2) This Order shall be deemed to have come into operation on 1 January 2001.

 

Interpretation

 

2. For the purposes of this Order-

 

"assets" means such assets which are the subject of a securitization transaction and which satisfy all criteria as stipulated by the Securities Commission on the offering of asset-backed debt securities;

 

"credit enhancement" means any arrangement in form or substance which requires the credit enhancement provider to compensate a special purpose vehicle for a pre-determined amount of loss incurred as a means of insuring against the credit risks of the assets;

 

"special purpose vehicle" means any entity which issues asset-backed debt securities and which satisfies all criteria as stipulated by the Securities Commission on the offering of asset-backed debt securities.

 

"securitization transaction" means an arrangement which involves the transfer of assets or risks to a third party where such transfer is funded by the issuance of debt securities to investors and approved by the Securities Commission pursuant to section 32 of the Securities Commission Act 1993 [Act 498];

 

Exemption

 

3. The instruments specified in the Schedule executed on or after 1 January 2001 for the purpose of a securitization transaction are exempted from stamp duty.

 

Revocation

 

4. The Stamp Duty (Exemption) (No. 6) Order 2000 [P.U. (A) 46/2000] published in the Gazette on 17 February 2000 is revoked.

 

 

SCHEDULE

 

 

(1) Any instrument that operates to transfer, convey, assign, vest, effect or complete a disposition of any legal or equitable right or interest in or title to any asset or change or mortgage which in this Schedule is referred to as "the rights" to or in favour of a special purpose vehicle.

 

(2) Any instrument that operates to create or effect any charge, assignment, trust deed or letter of guarantee or any other instrument or document for the purposes of credit enhancement.

 

(3) Any instrument that operates to transfer, convey, assign, vest, effect or complete a disposition of any of the rights in connection with the repurchase of the rights from a special purpose vehicle to or in favour of the person from whom the rights were acquired.

 

(4) Any other instrument or document in which a special purpose vehicle is a party to.

 

Made 24 July 2001.

[Perb. CR (8.09) 248/40/7-299 Vol. 3(4); LHDN. 01/34/42/68-180-1 (20/2000);

PN(PU2)159/XXIV]

 

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

 

CHAN KONG CHOY

Deputy Minister of Finance.

STAMP DUTY (EXEMPTION) (NO.32) ORDER 1999

STAMP DUTY (EXEMPTION) (NO.32) 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

l.   This order may be cited as the Stamp Duty (Exemption) Order 1999.

Exemption

2.  All instruments of facility agreement executed between Danamodal Nasional Berhad (Lender) and any financial institution (Borrower) licensed under the Banking and Financial Institutions Act 1989 [Act 372] for the purpose of recapitalising the financial institution are exempted from stamp duty.

 

Made 18 January 1999.

[Perb. (8.09) 248/39/7-491; LHDN. 01/34/42/68-180-1(17/98); PN(PU2) 159/XXI]

DATO' MUSTAPA BIN MOHAMED

Second Minister of Finance

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 (EXEMPTION) (NO.21) ORDER 1999

STAMP DUTY (EXEMPTION) (NO.21) 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

1.  (1)     This order may be cited as the Stamp Duty (Exemption) (No. 21) Order 1999.

(2)     This Order shall be deemed to have come into operation on 15 March 1999.

Interpretation

2.  For the purposes of this Order -

"Malaysian Exchange of Securities Dealing And Automated Quotation Berhad" means a stock exchange approved under section 8 of the Securities Industry Act 1983 [Act 280];

"Malaysian Central Depository Sendirian Berhad" means a central depository approved under section 5 of the Securities Industry (Central Depositories) Act 1991 [Act 453], and includes its nominee companies.

Exemption

3.  It is hereby exempted from stamp duty all instruments of transfer -

(a)     of shares, stocks and marketable securities in public companies listed or to be listed on the Malaysian Exchange of Securities Dealing And Automated Quotation Berhad executed in favour of the Malaysian Central Depository Sendirian Berhad; or

(b)     of the beneficial interest of the shares, stocks and marketable securities in public companies listed or to be listed on the Malaysian Exchange of Securities Dealing And Automated Quotation Berhad held for the account of the transferor by the Malaysian Central Depository Sendirian Berhad.

 

Made 4 August 1999.

[Perb. (8. 09) 248/39/7-330 Vol. 2; LHDN. 01/34/42/68-180-1 (6/99) ; PN(PU2) 159/XXI]

 

DATO' MUSTAPA BIN MOHAMED

Second Minister of Finance

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

STAMP DUTY (EXEMPTION) (NO.8) ORDER 2000

STAMP DUTY (EXEMPTION) (NO.8) 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. 8) Order 2000.

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

Interpretation

2. For the purpose of this Order, "financier" means any bank, financial institution or leasing company.

Exemption

3. An Al-Ijarah Head Lease Agreement of immovable property executed between a customer (as the lessor) and a financier for the purpose of lease back to that customer pursuant to a scheme of Al-Ijarah Term Financing Facility is exempted from stamp duty.

 

[Amended by Stamp Duty (Exemption) Order 2004 P.U. (A) 364]

Made 22 February 2000.

[Perb. R(8.20) 116/1-138(2000) (Sk. 17); LHDN. 01/34/42/68-180-1(40/99);

PN(PU2)159/XXII]

 

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

CHAN KONG CHOY

Deputy Minister of Finance

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

STAMP DUTY (EXEMPTION) ORDER 2000

P.U. (A) 9...............20.1.2000

STAMP DUTY (EXEMPTION) 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

1.  This order may be cited as the Stamp Duty (Exemption) Order 2000.

Interpretation

2.  In this Order, "offshore business activity" and "offshore company" shall have the meaning assigned to it in the Labuan Offshore Business Activity Tax Act 1990 [Act 445].

Exemption

3.  The instruments set out in the Schedule are exempted from stamp duty.

SCHEDULE

(1)     All instruments which are executed by an offshore company in connection with an offshore business activity.

(2)     All Memorandum and Articles of Association of an offshore company.

(3)     All instruments of transfer of shares in an offshore company.

Revocation

4.  The Stamp Duty (Exemption) (No. 22) Order 1995 [P. U. (A) 284/95] published on 10 August 1995 is revoked.

 

Made 17 January 2000.

[Perb. (C) 0. 217 9(SJ. 21) Vol. 3(9) ; LHDN. 01/34/42/68-180-1(24/99) ;

PN(PU2) 159/XXII]

 

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

CHAN KONG CHOY

Deputy Minister of Finance

STAMP DUTY (EXEMPTION) (NO.12) ORDER 2000

STAMP DUTY (EXEMPTION) (NO.12) 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. 12) Order 2000.

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

Interpretation

2.  For the purpose of this Order -

"lender" and "borrower" mean persons who are permitted by the Securities Commission to engage as lenders or borrowers, as the case may be, in securities borrowing and lending transactions under a Securities Borrowing and Lending Agreement which has been approved by that Commission;

mesdaq" means the Malaysian Exchange of Securities Dealing and Automated Quotation Berhad, a stock exchange approved under section 8 of the Securities Industry Act 1983 [Act 280];

"Securities Commission" means the Securities Commission established under section 3 of the Securities Commission Act 1993 [Act 498].

Exemption

3.  (1)     An instrument of transfer of securities listed on mesdaq executed in favour of a borrower or lender and an instrument of transfer of collateral in respect of a securities borrowing and lending transaction made under a Securities Borrowing and Lending Agreement is exempted from stamp duty.

(2)     Notwithstanding subparagraph (1), an instrument of transfer of securities listed on mesdaq in favour of a lender is not exempted under subparagraph (1) unless the lender was the beneficial owner or the authorised nominee of the securities at the time of their transfer to the borrower.

 

Made 2 February 2000.

[Perb. (8.09)248/40/7-1048; LHDN.01/34/42/68-180-1(5/99); PN(PU2)159/XXII]

STAMP DUTY (EXEMPTION) (NO.23) ORDER 2000

STAMP DUTY (EXEMPTION) (NO.23) 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. 23) Order 2000.

(2)     This Order shall come into operation on 1 July 2000.

Interpretation

2.  For the purpose of this Order, "debenture" shall have the meaning assigned by subsection 2(1) of the Securities Commission Act 1993 [Act 498].

Exemption

3.  All instruments relating to the issue of, offer for subscription or purchase of, or invitation to subscribe for or purchase, debentures approved by the Securities Commission under section 32 of the Securities Commission Act 1993 and the transfer of such debentures, are exempted from stamp duty.

Revocation

4.  The Stamp Duty (Exemption) (No. 2) Order 2000 [P. U. (A) 16/2000] published on 27 January 2000 is revoked.

 

Made 27 June 2000.

[Perb. (8. 08) 248/39/7-88 Vol. 5 (SK. 4) ; LHDN. 01/12/(S) /42/68;

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.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