(1) This Act may be cited as the Assignment of Revenue (Export Duty on Iron Ore) Act 1962.
(2) This Act shall apply to the States of *Peninsular Malaysia only.
Act 395
Assignment of Revenue (Export Duty on Iron Ore) Act 1962
Akta penyerahhakan hasil (duti eksport atas bijih besi) 1962
An Act to provide for the assignment to States of export duty on iron ore and to restrict the levying of royalties and like payments in respect of iron ore.
Data synced
Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.
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In this Act, unless the context otherwise requiresโ
โexport dutyโ means export duty under the Customs Act 1952 [Act 235];
โiron oreโ means iron ore or iron concentrates not including pyrites;
โthe Ministerโ means the Minister of Finance;
โthe relevant dateโ has the meaning assigned by subsection 2(1).
(1) In the case of iron ore produced in any State and exported after the end of the month of September, nineteen hundred and sixty-two (hereinafter referred to as โthe relevant dateโ) there shall be assigned to that State the export duty levied on the ore or so much thereof as does not exceed 10 per cent ad valorem on the value of the ore (as ascertained for the purposes of export duty).
(2) In the case of iron ore produced in any State and exported before the relevant date the Minister may assign to the State the whole, or such proportion as he considers equitable, of the export duty levied on the ore.
(3) The Minister may by order direct that subsection (1) shall have effect with the substitution for 10 per cent of such other percentage as may be specified in the order; but any order under this subsection shall be laid before the Dewan Rakyat and shall not have effect until approved by resolution of that House.
No provision for the levying of royalties on, or similar charges in respect of, iron ore produced in any State (whether under a lease or other instrument or under any State Enactment, and whether the instrument was made or the Enactment passed before or after the coming into operation of this section) shall have effect after the relevant date exceptโ
(a) in the case of a provision made before the coming into operation of this section, in so far as the Minister (whether before or after the relevant date) directs that the provision shall have effect;
(b) in the case of a provision made after the coming into operation of this section, if the Minister has signified his approval in writing to the provision.
Cite this legislation
- Official citation
- Act 395
- Source
- lom.agc.gov.my
- Data synced
- Licence
- Official text, free to reproduce (Copyright Act 1987 [Act 332] s 3) โ
Assignment of Revenue (Export Duty on Iron Ore) Act 1962 [Act 395] (Laws of Malaysia, lom.agc.gov.my). Retrieved via LawPlayer, https://lawplayer.com/my/act/act-395
This text is synced from lom.agc.gov.my. In case of any discrepancy, the official version prevails.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).