Merger of Stockbroking
on Malaysian Exchange of Securities Dealing and Automated Quotation Bhd (MESDAQ)
Issue of Debentures
Approved by Securities Commission or their Purchase / Transfer
Change of Financing
Scheme from Conventional to Syariah
Under the Stamp Duty (Exemption) Order 2000, instruments described below are exempted
from stamp duty :-
i. All instruments which are executed by an offshore company in connection with an
offshore business activity.
ii. All Memorandum and Articles of Association of an offshore company.
iii. All instruments of transfer of shares in an offshore company.
The terms "offshore company" and "offshore business activity"
carry the meanings assigned in the Labuan Offshore Business Activity Tax Act, 1990.
The exemption came into operation on 21st January 2000.
Merger of Stockbroking Companies
Instruments executed on or between 30th October 1999 until 31st December 2000 pursuant
to an approved scheme of merger are exempted from stamp duty under the Stamp Duty
(Exemption)(No.5) Order 2000.
Corporate Debt Restructuring Scheme
The Stamp Duty (Exemption)(No.7) Order 2000 provides that all instruments executed
pursuant to a corporate debt restructuring scheme completed between 30th October
1999 until 31st December 2000 under the supervision of the Corporate Debt Restructuring
Committee, Bank Negara Malaysia or under Pengurusan Danaharta Nasional Berhad are
exempted from stamp duty.
Securities Listed on Malaysian Exchange of Securities Dealing and Automated Quotation
Instruments of transfer of securities listed on MESDAQ executed in favour of permitted
lenders and borrowers and instruments of transfer of collateral in respect of securities
borrowing and lending transaction made under approved Securities Borrowing and Lending
Agreement are exempted from stamp duty vide the Stamp Duty (Exemption)(No.12) Order
The exemption takes effect from 30th April 1999.
Issue of Debentures Approved by Securities Commission or their Purchase / Transfer
The Stamp Duty (Exemption)(No.23) Order 2000 which came into operation on 1st July
2000 exempts from stamp duty all instruments relating to the issue, offer for subscription/purchase
of debentures approved by the Securities Commission and the transfer of such debentures.
Change of Financing Scheme from Conventional to Syariah
The Stamp Duty (Remission)(No.3) Order 2000 which came into operation on 25th August
2000 provides for the remission of duty on asset sale agreement for a loan executed
between a customer and a financier under the syariah law pursuant to a change of
scheme for financing an existing loan from conventional to syariah to the extent
of the duty on the balance of the principal amount of the existing loan.
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© October 2000