Finance Act 1986 s 4

s 4 Amendment of section 2

Section 2 of the Income Tax Act 1967, which in this Chapter is referred to as “the principal Act”, is amended by substituting for the interpretation of “approved loan” in subsection (1) the following: ‘ “approved loan” means— (a) any loan or credit made to the Government, State Government (including any loan or credit made to a person other than the Government or State Government where the loan or credit is guaranteed by the Government or State Government), local authority or statutory body; or (b) any loan or credit other than a loan or credit of the kind specified in paragraph (a), made to a person where the amount of such loan or credit exceeds two hundred and fifty million ringgit, by a person not resident in Malaysia: Provided that— (i) the loan or credit has been approved by the Minister of Finance; and (ii) the loan or credit agreement was executed in Malaysia or where the loan or credit agreement with the prior approval of the Minister was executed outside Malaysia;’.

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Find Act 328 on lom.agc.gov.my ↗

Text as at 1 January 2006 (LOM reprint); amendments made after that date may not be incorporated.

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).

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