The 1998 Regulations also specified that no fees are payable in respect of the following :

  1. On lodging a copy of any resolution under Section 113A;

  2. On lodging a return of the particulars of a director and secretary and of any changes thereto under Section 94(5);

  3. On lodging a consent in writing to act as a director under Section 88;

  4. On lodging a notice of change of registered office under Section 85(3);

  5. On lodging a return of allotment under Section 43(1);

  6. On lodging of particulars and documents relating to any change or alteration under Section 124(1).
   

   
 

On September 1, 1998, Bank Negara Malaysia (BNM) introduced a series of exchange control measures aimed at ending speculation on the Ringgit, and which are seen as important steps towards revitalisation of the economy.

Major Ringgit control measures introduced by BNM are :

  1. Residents can pay non-residents up to RM10,000 equivalent except for imports and investments abroad.

  2. Domestic credit not available to non-resident correspondent banks and brokerages.

  3. Transfers to resident accounts only until September 30, 1998.

  4. Prior approval for transfers between external accounts.

  5. Ringgit proceeds from sale of shares by non-residents must be kept in external accounts.
   



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