Malaysia legislation
Section 65
Section 65
Amendment of First Schedule
The First Schedule to the principal Act is amended by substituting for item 22(1) the following item:
Item
Description of Instrument
Proper Stamp Duty
“22
BOND,
COVENANT,
LOAN,
SERVICES, EQUIPMENT LEASE
50 Laws of Malaysia ACT 693
Item
Description of Instrument
Proper Stamp Duty
AGREEMENT OR INSTR UMENT 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), for the term of life or any other indefinite period for every RM100 and also for any fractional part of
RM100 of the annuity or sum periodically payable
RM1.00
(b)
for any sum or sums of money, not being interest for any principal sum secured by a duly stamped instrument, nor rent reserved by a lease or tack.
The same ad valorem duty as a charge or mortgage for such total amount.”.