Other relevant links
Full text of April 2001 ABS guidelines from Securities Commission
Click here for our news item and Vinod Kothari's comments on the Guidelines.
Click here for our country page on Malaysia.
Stamp duty exemption notifications
The following is the full text of Stamp duty exemption notification in Malaysia. The exemption was extended and made permanent by the Budget 2001. A similar exemption, with similar conditions, has been granted in respect of Real Property Gains tax as well.
STAMP DUTY 1949
STAMP DUTY ( EXEMPTION ) (NO.6) ORDER 2000
In exercise of the powers conferred by subsection 80 (1) of the Stamp Act 1949 [act 378 ] ,the minister makes the following order :
Citation and commencement
1. (1) this order may be cited as the Stamp Duty (exemption ) (no. 6) order 2000
(2) This order shall be deemed to have come into operation on 30 October 1999.
2. For purposes of this order-
"Assets" means claims or securities or properties;
" Credit" enhancement in relation to an asset includes –
(a) The process of insuring risk associated with purchasing or funding of assets by means of securitisation;
(b)Any other similar process related to purchasing or funding of assets by means of securitisation;
"securitisation " means any arrangement approved by the Securities Commission for the funding or proposed funding of assets thst have been or are to be provided by the holder or holders of those assets, by issuing bonds to investors and by which payments to investors in respect of the instruments or entitlements relating to such issuing of bonds are principally derived ,directly or indirectly , from such assets ;
"Special" purpose vehicle means any company incorporated in Malaysia that has been approved by the Securities Commission for the purpose of Securitisation
3. The instruments specified in the schedule executed on or after 30 October 1999but not later than 31 December 2000for the purpose of Securitisation are exempted from stamp duty
(1) any instrument that operates to transfer , convey, assign , vest , effect or complete a disposition of any legal or equitable right or interest in or title to, assets or charges or mortgages r other documents in relation thereto ( referred in this schedule as "those rights" ) , to or in favour of a special purpose vehicle
(2) Any instrument that operates to effect charges, assignments trust deeds or any letters of guarantee or any other documents for the credit enhancement of the assets
(3) Any instrument that operates to transfer , convey assign , effect or complete disposition of any of those rights in connection with the repurchase of those rights from the special purpose vehicle to or in favour of the person or persons from whose those rights were acquired for the purpose of securitisation
Made 26 January 2000
[perb. R(8.20 ) 116 /1-138 (2000) (SK 6 ) ; PN (PU2 )_ 159/xxii ]
on behalf and in the name of the Minister of Finance