Stamp Act 1949 · Updated to 1 Jan 2026 · Part III · Provisions Applicable to Particular Instruments
32. Directions as to certain contract notes
Feedback & supportWhere a contract note is a continuation or carrying over note made for the purpose of continuing or carrying over any transaction for the sale or purchase of stock or marketable securities, the contract note, although it is made in respect of both a sale and purchase, shall be charged with duty under this section as if it related to one of those transactions only, and, if different rates of duty are chargeable in respect of those transactions, to that one of those transactions which would render the contract note chargeable at the highest rate.
contract note
“contract note” means the note sent by a dealer or agent to his principal, or by any person who by way of business deals, or holds himself out as dealing, as a principal in any stock or marketable Stamp 13 securities, advising the principal, or the vendor or purchaser, as the case may be, of the sale or purchase of any stock or marketable security, but does not include a note sent by a dealer or agent to his principal where the principal is himself acting as dealer or agent for a principal and is himself a person who bona fide carries on the business of a dealer in Malaysia;
Where a contract note advises the sale or purchase of more than one description of stock or marketable security, the note shall be deemed to be as many contract notes as they are descriptions of stocks or securities sold or purchased.
stock
“stock” includes any share in the capital stock or funded debt of any corporation, company or society in Malaysia or elsewhere and any share in the stocks or funds of the Government of Malaysia or of any other Government or country;