Malaysia legislation
Section 4
Section 4
The income Tax Act 1967, which is referred to as the “principal
(a)
by inserting after the definition of “co-operative society”
the following definition:
‘ “deferred annuity” means deferred annuity contracted on or after 1 January 2014 issued by insurers licensed under the Financial Services Act 2013 [Act 758] or takaful operators registered under the islamic Financial
Services Act 2013 [Act 759], and contains the Retirement
Saving Standards approved by the central Bank;’;
(b)
by inserting after the definition of “partnership” the following definition:
‘ “permanent total disablement” has the same meaning assigned to it in the Employees’ Social Security Act 1969 [Act 4];’; and
(c)
by inserting after the definition of “Securities commission”
the following definition:
‘ “serious disease” means acquired immunity deficiency syndrome, Parkinson’s disease, cancer, renal failure, leukaemia or other similar diseases;’.
Finance 9
new section 4c