s 83 Repeal
The Ordinance, Enactments and Proclamations mentioned in the Fourth Schedule are hereby repealed to the extent specified in the third column of such Schedule: Provided that any subsidiary legislation, appointments and exemptions made or granted under the written laws repealed by this section shall continue in force and have effect as if they had been made or granted under this Act until superseded by subsidiary legislation, appointments and exemptions made or granted under this Act. F IRST SCHEDULE [Section 4] INSTRUMENTS CHARGEABLE WITH STAMP DUTY Item Description of Instrument Proper Stamp Duty (Deleted by Act 274). AFFIDAVIT, STATUTORY DECLARATION RM10.00 OR DECLARATION IN WRITING on oath or affirmation, made before a person authorized by law to administer an oath Exemptions Affidavit or Declaration in writing made— (i) for the immediate purpose of being filed or used in any court or before any Judge or officer of any court; (ii) for the sole purpose of enabling any person to receive any pension or charitable allowance; (iii) by a surety for an officer of the Government or of the Malayan Railway with regard to the surety’s means; (iv) by any person on acceptance of an appointment in the service of the Government or of the Malayan Railway; (v) under section 8 of the *Post Office Act 1947; (vi) for renewal of Bills of Sale; (vii) by a public officer that he or she has attained the appropriate age entitling such officer to a pension; (viii) for the Collector under section 57 of this Act; or (ix) pursuant to any statute requirement or in accordance with the directions of any Government or Agency. AGREEMENT for a lease…… See lease Item Description of Instrument Proper Stamp Duty AGREEMENT OR MEMORANDUM OF RM10.00 AGREEMENT made under hand only, and not otherwise specially charged with any duty, whether the same is only evidence of a contract or obligatory on the parties from its being a written instrument. Exemptions Agreement or Memorandum: (a) for or relating to the sale of any goods, wares or merchandise other than a hire-purchase agreement; (b) for service or personal employment where the wages do not exceed RM300 per month, and any agreement between the master and mariners of any vessel or boat for wages; (c) the matter whereof is of a value of less than RM300; (d) for the reference of any matter to arbitration; (e) for the payment of interest on money deposited in any bank or with any banker; (f) for the repurchase of negotiable certificate of deposit whose issue has been authorized by Bank Negara Malaysia. Note—An agreement for or relating to the supply of goods on hire, whereby the goods in consideration of periodical payments will or may become the property of the person to whom they are supplied, shall be charged with stamp duty as an agreement, or, if under seal, as a deed 4A (Deleted by Act A723). ANNUITY: Conveyance in consideration of, and See Conveyance on instrument creating by way of sale Sale and sections 19 or gift and 22 Instrument creating by way of security The same duty as a charge or mortgage for the amount deemed to be secured thereby. Item Description of Instrument Proper Stamp Duty APPOINTMENT of a RECEIVER under RM10.00 a mortgage APPOINTMENT of a new TRUSTEE, and RM10.00 APPOINTMENT in execution of a Power, of any property, or of any share or interest in any property, by any instrument not being a Will (Deleted by Act 274). (Deleted by Act 274). ARTICLES OF ASSOCIATION of a company RM100.00 (Deleted by Act 274). ASSIGNMENT: By way of security or of any security See Charge Upon a sale or otherwise … … … See Conveyance ASSURANCE … … … See Policy of Insurance (Deleted by Act 274). (Deleted by Act 274). (Deleted by Act 274). (Deleted by Act 476). (Deleted by Act 476). (Deleted by Act 476). BILL OF SALE: Absolute … … … See Conveyance By way of security … … … See Charge BOND for securing the payment or See Charge repayment of money or the transfer or retransfer of stock Item Description of Instrument Proper Stamp Duty BOND, COVENANT OR INSTRUMENT of any kind whatsoever: (1) Being the only or principal or primary security for any annuity (except upon the original creation thereof by way of sale or security, and except a superannuation annuity), or for any sum or sums of money at stated periods, not being interest for any principal sum secured by a duly stamped instrument, nor rent reserved by a lease or tack— (a) for a definite and c e r t a i n The same ad valorem period so that the total amount duty as a charge or to be ultimately payable can be mortgage for such ascertained total amount. (b) f o r t h e t e r m o f l i f e o r a n y RM10.00 other indefinite period— For every RM100 and also for any fractional part of RM100 of the annuity or sum periodically payable. (2) Being a collateral or auxiliary or additional or substituted security for any of the above mentioned purposes where the principal or primary instrument is duly stamped— (a) w h e r e t h e t o t a l a m o u n t t o One-fifth of the duty b e u l t i m a t e l y p a y a b l e be on the principal or ascertained primary security, but so as not to exceed RM10.00. (b) in any other case— 25 sen For every RM100 and also for any fractional part of RM100 of the annuity or sum periodically payable. (3) Being a grant or contract for payment RM10.00 of a superannuation annuity, that is to say a deferred life annuity granted or secured to any person in consideration of annual premiums payable until he attains a specified age, and so to commence on his attaining that age— Item Description of Instrument Proper Stamp Duty (4) Being the security for payment or RM10.00 repayment of money made for the purpose of pursuing higher education in higher educational institutions. (5) Being the security for securing the The same duty as a payment for the provision of services LEASE or facilities or to other matters or things in connection with the lease of any immovable property. BOND, CHARGE, MORTGAGE or other RM10.00 INSTRUMENT executed by way of INDEMNITY or of SECURITY for the due execution of an office, or for the discharge of liabilities, arising out of the execution thereof, or to account for money received by virtue thereof Exemptions (a) Bond executed by an officer of the Government or of the Malayan Railway or his surety to secure the due execution of an office or the due accounting for money or other payments secured by virtue thereof. (b) Bond for securing the refund to Government or the Malayan Railway of amounts overpaid to persons appointed by Government officers or officers of the Malayan Railway to receive their salary or allowance when absent on leave. (c) Bonds required to be executed under the provisions of the Criminal Procedure Code. BOND on obtaining letters of administration RM10.00 where the estate exceeds RM50,000.00. Exemption Bond given by any person when the estate to be administered does not exceed RM50,000.00 in value. BOND of any kind whatsoever not specifically RM10.00 charged with any duty Item Description of Instrument Proper Stamp Duty (Deleted by Act 274). CHARGE OR MORTGAGE, AGREEMENT FOR A CHARGE OR MORTGAGE, (including that under the Syariah) BOND, CONVENANT, DEBENTURE (not being a marketable security) BILL OF SALE by way of security and WARRANT OF ATTORNEY to confess and enter up judgment: (a) Being the only or principal or primary security (other than an equitable mortgage or an assignment of receivables or the kind mentioned in paragraph (d)) for the payment or repayment of money— (i) where section 5A applies— For an amount not exceeding RM1.00 for every RM250,000 of the aggregate RM1,000 or fractional loans or of the aggregate financing thereof under the syariah in a calendar year For each additional RM1,000 or RM5.00 part thereof (ii) where the loans is a foreign RM5.00 for every currency loan or the financing RM1,000 or part was made according to the thereof but the total syariah in currencies other than duty payable shall not the ringgit exceed RM500 (iii) in any other case— For each RM1,000 or part RM5.00 thereof (b) Being a collateral or auxiliary or One-fifth of the duty additional or substituted security on the principal or (other than an equitable mortgage) security but so as not or by way of further assurance for to exceed RM10.00 the above-mentioned purpose where the principal or primary security is duly stamped. (c) An equitable mortgage … … One-half of the duty which would be chargeable on a mortgage for the amount secured Item Description of Instrument Proper Stamp Duty (d) A charge or a mortgage on or an RM10.00 assignment by way of security of accounts receivables to a bank, merchant bank or finance company licensed under the Banking and Financial Institutions Act 1989 or under the Islamic Banking Act 1983 or a scheduled institution as defined under section 2 of the Banking and Financial Institutions Act 1989, pursuant to an agreement for discounting invoices or hire purchase receivables (e) Transfer, assignment or disposition Two-fifths of the duty of any charge or mortgage, bond, which would be covenant or debenture (not being a chargeable on a charge marketable security) or of any money or mortgage for the or stock secured) by any such amount transferred instrument or by any warrant of attorney to enter up judgment or by any judgment And also where any further money is The same duty as a added to the money already secured principal security for such further money (f) (Deleted by Act A723). (g) Charge or mortgage executed in pursuance RM10.00 of a duly stamped agreement for the same, on production of such agreement to the Collector (h) In any other case … … RM10.00 (Deleted by Act 274). CHEQUE (unless compounded for) 15 cent CONTRACT See Agreement. CONTRACT NOTE: Relating to the sale of any shares, stock or marketable securities in companies incorporated in Malaysia or elsewhere— For every RM1,000 or fractional part of RM1.00 RM1,000 of the value of any shares, stock or marketable securities Item Description of Instrument Proper Stamp Duty CONVEYANCE, ASSIGNMENT, TRANSFER OR ABSOLUTE BILL OF SALE: (a) On sale of any property (except For every RM100 or stock, shares, marketable securities fractional part of and accounts receivables or book RM100 of the amount debts of the kind mentioned in of the money value of paragraph (c)) the consideration or the market value of the property, whichever is the greater— (i) RM1.00 on the first RM100,000; (ii) RM2.00 on any amount in excess of RM100,000 but not exceeding RM500,000; (iii) RM3.00 on any amount in excess of RM500,000. (b) On sale of any stock, shares or RM3.00 marketable securities, to be computed on the price or value thereof on the date of transfer, whichever is the greater— For every RM1,000 or fractional part of RM1,000 (c) On the absolute sale of any accounts RM10.00 receivables or book debts to a bank, merchant bank, or finance company licensed under the Banking and Financial Institutions Act 1989 or under the Islamic Banking Act 1983 or a scheduled institution as defined under section 2 of the Banking and Financial Institutions Act 1989, pursuant to a factoring agreement (d) Of any property by way of security or See Charge any security other than a marketable security Item Description of Instrument Proper Stamp Duty (e) Of any property as above where the transaction is between trustees and where— (i) the beneficial interest in the Duty as in (a), (b), property passes or (c) (ii) the beneficial interest in the RM10.00 property does not pass (f) Of any property, for the purpose of RM10.00 effectuating the appointment of a new trustee or the retirement of a trustee although no new trustee is appointed (g) Of any property by way of settlement See Settlement (h) Of any property by way of gift (whether See Gift and by way of voluntary disposition or subsection 16(1) otherwise) (i) Of any kind not otherwise specially RM10.00 charged with duty Exemptions (a) Transfers on sale of land for the recovery of land revenue; (b) Transfers by endorsement— (i) of a bill of exchange, cheque or promissory note; (ii) of a bill of lading, warrant for goods or other mercantile document of title to goods; (iii) of a policy of insurance other than a policy of life insurance; (iv) of charges on rates and taxes authorized by any written law for the time being in force in Malaysia; (v) of securities of the Government of Malaysia or of any State or of the Malayan Railway; (c) Transfer of units of a unit trust; (d) Transfer or assignment on sale of any copyright, trade mark, patent or any similar right. Item Description of Instrument Proper Stamp Duty (Deleted by Act 274). COUNTERPART OR DUPLICATE of any instrument chargeable with duty, and in respect of which the proper duty has been paid— (a) If the duty with which the original The same duty as the instrument is chargeable does not original exceed RM10.00 (b) In any other case RM10.00 COVENANT: Any separate instrument or deed of covenant RM10.00 (not being an instrument or deed chargeable with ad valorem duty as a conveyance or charge or mortgage) made on the sale, charge or mortgage of any property, or of any right or interest therein, and relating solely to the conveyance or enjoyment of or the title to the property sold, charged or mortgaged, or to the production of the documents of title relating thereto, or to all or any of the matters aforesaid DEBENTURE … … … … See Marketable Security and Charge DECLARATION of any use or trust of or RM10.00 concerning any property by any writing, not being a will, or an instrument chargeable with duty as a settlement DEED of any kind not described in this RM10.00 Schedule DISCHARGE OF CHARGE See Re-Conveyance, etc. DISSOLUTION OF PARTNERSHIP See Partnership. DUPLICATE See Counterpart. EQUITABLE MORTGAGE See Charge (or Mortgage). EXCHANGE. Any instrument whereby an (a) In the case exchange of any property is effected. specified in section 20A: see that section; Item Description of Instrument Proper Stamp Duty (b) In any other case: RM10.00. (Deleted by Act 274). FURTHER CHARGE See Charge. GIFT See Subsection 16(1). INDEMNITY BOND See Bond (Item 23). INSURANCE See Policy of Insurance. LEASE OR AGREEMENT FOR LEASE: of any immovable property and for securing the payment for the provision of services or facilities or to other matters or things in connection with such lease: (a) Without fine or premium when the When the Lease is for a period average rent and other considerations Not Exceeding Exceeding exceeding one but three or for calculated for a whole year— one year not any indefinite exceeding period three years (i) Does not exceed RM2,400 Nil Nil Nil (ii) For every RM250 or part thereof 1.00 2.00 4.00 in excess of RM2,400 (b) In consideration of a fine or premium The same duty as for and without rent of other considerations a conveyance for a sum equal to the amount of such consideration. (c) In consideration of a fine or premium The same duty as for and reserving a rent or other a conveyance on sale considerations in consideration of the fine or premium and a lease for the rent. (d) Where a percentage or proportion, RM10.00 or the value of a percentage or proportion, of the produce of the land is reserved or payable to the lessor Note—This duty is in addition to any duty which may be chargeable under (a), (b) or (c) above on account of any specified rent, fine or premium Item Description of Instrument Proper Stamp Duty (e) In pursuance of a duly stamped RM10.00 agreement for the same on production of such agreement to the Commissioner (f) In any other case RM10.00 Exemption Agricultural Lease or Agreement for Agricultural Lease for any definite term not exceeding three years when the rent reserved does not exceed two hundred ringgit a year. 49 A LEASE OR AGREEMENT FOR LEASE The same ad valorem UNDER THE PRINCIPLES OF AL-IJARAH duty as upon a charge of the Syariah law for the purpose of or mortgage for such financing or securing repayment of money. total amount. LETTER OF GUARANTEE RM10.00 50 A LETTER OF HYPOTHECATION RM10.00 LETTER OF ALLOTMENT AND LETTER RM10.00 OF RENUNCIATION or any document having the effect of a letter of allotment of shares in any company or proposed company or in respect of any loan raised or proposed to be raised by any company or proposed company MARKETABLE SECURITY: (a) Not being a security transferable by The same ad valorem delivery, for or in respect of the money duty according to the thereby secured nature of the security upon a mortgage. (b) Being a security transferable by 50 sen for every RM100 delivery or fractional part of RM100 of the nominal value of the security. (c) Transfer, assignment, or disposition See Conveyance of a marketable security MEMORANDUM OF ASSOCIATION OF RM100.00 A COMPANY (Deleted by Act 274). (Deleted by Act 274). Item Description of Instrument Proper Stamp Duty (Deleted by Act A723). PARTNERSHIP: (a) Instrument of . . . . RM10.00 (b) Dissolution of . . . . RM10.00 POLICY OF INSURANCE: (1) (a) Policy of Sea Insurance including RM10.00 time policies or policies for covering a vessel or her machinery or fittings whilst under construction or repair or on trial, whether the period exceeds twelve months or not (b) For policies containing a continuation RM10.00 clause, additional duty NOTE—When a policy of sea insurance is drawn in a set according to the custom of marine insurers and one of the set is duly stamped, the other or others of the set shall, unless issued or in some manner negotiated apart from such duly stamped policy, be exempt from duty; and, upon proof of the loss or destruction of a duly stamped policy forming one of a set, any other policy of the set which has not been issued or in any manner negotiated apart from such lost or destroyed policy may although unstamped, be admitted in evidence to prove the contents of such lost or destroyed policy. (2) FIRE POLICY— For all policies and renewals irrespective RM10.00 of the sum insured or the term (3) ACCIDENT POLICY and policy of RM10.00 Insurance for any payment agreed to be made during the sickness of the insured person or his incapacity from personal injury, or by way of indemnity against loss or damage of or to any property of the insured person. Item Description of Instrument Proper Stamp Duty (4) LIFE POLICY— RM10.00 Exemption Where the sum insured does not exceed RM5,000. (5) RE-INSURANCE BY AN INSURANCE RM10.00 COMPANY which has granted a Policy of Sea Insurance or a Policy of Fire Insurance with another Company by way of indemnity or guarantee, against the payment on the original insurance of a certain part of the sum insured thereby irrespective of the sum insured or the term (6) THIRD PARTY POLICY— (a) Covering liability of the insured RM10.00 towards others (b) WORKMEN’S COMPENSATION (EMPLOYER’S LIABILITY): Policy covering the liability of the RM10.00 insured to pay compensation to a workman or employee in regard to sickness or personal injury (7) COMPREHENSIVE POLICY— Combining any two or more of the RM10.00 following risks—fire, personal injury, or sickness of the insured, damage, loss, theft and third party claims (8) Any other Insurance Policy not specifically RM10.00 provided for— General Exemption Letter of cover or engagement to issue a policy of insurance: Provided that unless such letter or engagement bears the stamp prescribed by this Act for such policy nothing shall be claimable thereunder, not shall it be available for any purpose except to compel the delivery of the policy therein mentioned. Item Description of Instrument Proper Stamp Duty POWER OR LETTER OF ATTORNEY: RM10.00 Exemption For the sole purpose of appointment or authorizing any person to vote as proxy at a meeting of a Company or Association PROMISSORY NOTE: (a) executed in favour of a bank, merchant RM10.00 bank or borrowing company in Malaysia approved by the Minister of Finance (b) others RM10.00 PROTEST OF NOTE, that is to say, any RM10.00 declaration in writing made by a Notary Public, or other person lawfully acting as such, attesting the dishonour of a promissory note (Deleted by Act 274). (Deleted by Act 274). (Deleted by Act 476). RECONVEYANCE OF CHARGED OR Same duty as charge MORTGAGED PROPERTY, RE-ASSIGNMENT, itself but subject RELEASE, DISCHARGE, SURRENDER OR to a maximum of RENUNCIATION of any security or of the RM10.00 benefit thereof or of the money thereby secured: RELEASE OR RENUNCIATION that is to say, any instrument whereby a person releases any property: (a) If on sale………… The same duty as a conveyance on sale (b) If by way of security…… The same duty as a charge or mortgage (c) If by way of gift……… The same duty as a conveyance by way of gift (d) In any other case not otherwise RM10.00 specially charged with duty Item Description of Instrument Proper Stamp Duty REVOCATION of Power or Letter of Attorney The same duty as is payable on the Power or Letter of Attorney REVOCATION of any use or trust of any RM10.00 property by any writing not being a will. SETTLEMENT being an Instrument of See section 16 and Settlement or Agreement for a settlement item 32: Conveyance (Deleted by Act 513). SHARE WARRANT OR STOCK RM1.00 for every CERTIFICATE to bearer RM100 or fractional part of RM100 of the nominal value of the shares or stock specified in the warrant (Deleted by Act 274). SUBSTITUTION UNDER OR IN VIRTUE The same duty as is OF A POWER OF ATTORNEY and any payable on the Power such instrument cancelling or varying any or Letter of Attorney such substitution SURRENDER OF CHARGE See Reconveyance, etc. SURRENDER OF LEASE: (a) When the duty with which The duty with the lease is chargeable does not which such lease is exceed RM10.00 chargeable (b) In any other case RM10.00 TRANSFER See Conveyance TRUST See Declaration and Conveyance TRUST RECEIPT granted on the occasion RM10.00 of a loan or overdraft on goods, if unattested (Deleted by Act 274). (Deleted by Act 274). GENERAL EXEMPTIONS [Section 35] 1. All instruments of any kind whatsoever, and all counterparts or duplicates of such instruments, made or executed by or on behalf or in favour of a Ruler of a State or the Government of Malaysia or of any State or the Malayan Railway, where, but for this exemption, the Ruler or the Government or the Malayan Railway would be liable to pay the duty chargeable in respect of such instrument. The above exemption does not extend to any instrument or writing signed or executed by any officer as Official Administrator (or, in the case of Sabah, as Administrator General) or Public Trustee or by a receiver appointed by the Court; or to any instrument rendered necessary by any written law or order of Court; or to a sale made for the recovery of an arrear of revenue or in satisfaction of a decree or order of Court. 2. Any grant or lease made on behalf of the Government by virtue of the National Land Code [Act 56 of 1965] or the National Land Code (Penang and Malacca Titles) Act 1963 [Act 518] or the Land Ordinance of Sabah [Sabah Cap.68] or the Land Ordinance of Sarawak [Sarawak Cap.81]. 3. Any instrument for the sale, transfer or other disposition, either absolutely or by way of charge or otherwise, of any ship or vessel or any part, interest, share or property of or in any ship or vessel registered or licensed under the Merchant Shipping Ordinance 1952 [Ord. 70 of 1952] or under any law for the time being in force in any part of Malaysia. 4. Any instrument relating exclusively to immovable property situate out of Malaysia or relating exclusively to things done or to be done out of Malaysia. 5. All instruments relating solely to the business of any society registered under any written law relating to co-operative societies, and executed by an officer or member of such society, the duty on which would, but for the exemption hereby granted, be payable by such officer or member. 6. An instrument executed pursuant to a scheme of financing approved by the Central Bank or the Securities Commission as a scheme which is in accordance with the principles of Syariah, where such instrument is an additional instrument strictly required for the purpose of compliance with those principles but which will not be required for any other schemes of financing. 6. (Deleted by Act A723). 7. (Deleted by Act A723). 8. (Deleted by Act A723). 9. (Deleted by Act A723). *NOTE—The Post Office Act 1947 [Act 211] has since been repealed by the Postal Services Act 1991 [Act 465]–see subsection 50(1) of Act 465.