Malaysia legislation
Section 3
Section 3
(2)
Paragraph 4(d) shall have effect for the year of assessment 1984 and subsequent years of assessment.
(3)
Section 23 shall have effect for the year of assessment 1985
and subsequent years of assessment.
(4)
Paragraphs 6(a), 6(b), 7(b), 7(c) and section 22 shall have effect for the year of assessment 1987 and subsequent years of assessment.
(5)
Paragraphs 4(a), 4(b), sections 8, 17 and 19 shall be deemed to have come into force on 25 October 1985.
(6)
Paragraph 24(b) shall be deemed to have come into force on 25 October 1985:
Provided that in the case where a long-term loan agreement—
(i)
was entered into and the money lent or deposited in
Malaysia was remitted to Malaysia before 25 October 1985 or was entered into and for which permission was given by the Controller of Foreign Exchange under the
Exchange Control Act 1953 [Act 17] on or before 25
October 1985; and
(ii)
the terms, conditions or duration of that long-term loan have not been altered in any manner on or after 25 October 1985, the interest paid or credited on such loan shall continue to be exempt for the duration of the loan notwithstanding the withdrawal of the exemption provided for in paragraph 31 of Schedule 6 to the Income Tax Act 1967.
Finance (No. 2)
(7)
Section 18 shall come into force on 1 January 1986.
Amendment of section 2