Securities Commission Act 1993 · Updated to 1 Mar 2016 · Part III · Finance
24. Levies
Feedback & supportIn the case of every purchase and sale of securities recorded on the stock exchange or notified to it under its rules, the purchaser and the seller shall each of them be liable to pay to the Commission a levy at such rate as may be specified by order of the Minister to be published in the Gazette as a percentage of the consideration for such purchase and sale; and different rates may be specified in respect of different classes of securities.
exchange
“exchange” means a stock exchange established under the Capital Markets and Services Act 2007;
In the case of every derivative effected on a derivatives market of a derivative exchange, both persons on each side of the order in relation to the derivative shall be liable to pay to the
derivatives market
“derivatives market” has the meaning assigned to it in the Capital Markets and Serivces Act 2007;
Commission a levy of such amount as may be specified by order of the Minister to be published in the Gazette; and different amounts may be specified in respect of different types or classes of derivatives or different classes or categories of persons in respect of derivatives.
Commission
“Commission” means the Securities Commission Malaysia established under section 3;
38 Laws of Malaysia ACT 498
In the case of every purchase and sale of securities or every derivative effected on a recognized market under section 34 of the
Capital Markets and Services Act 2007, the Commission may impose a levy at such rate as may be specified by the Minister, by order published in the Gazette.
Minister
“Minister” means the Minister for the time being charged with the responsibility for finance;
The exchanges or the operator of a recognized market, as the case may be, shall collect and account to the Commission for the levy referred to in subsections (1) and (2).
The amount of any levy payable under this section shall be recoverable as a civil debt due to the Commission.
The Minister may make rules providing for—
the payment of the levies under this section; and
the keeping, examination and audit of the accounts of the exchanges relating to the collection of such levies.
(Deleted by Act A1403).