Stamp Act 1949 · Updated to 1 Jan 2026 · Part IX · Offences and Penalties
67. Penalty for not making out policy other than on sea insurance or making one not duly stamped
Feedback & supportAny person who—
*NOTE—Previously “not exceeding one thousand five hundred ringgit”–see section 27 of Measures for the Collection, Administration and Enforcement of Tax Act 2025 [Act 875].
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receives, or takes credit for any premium or consideration for any insurance other than a sea insurance, and does not within one month after receiving or taking credit for the premium or consideration make out and execute a duly stamped policy of insurance; or
duly stamped
“duly stamped”, as applied to an instrument, means — (a) the instrument bears an adhesive or impressed stamp of not less than the proper amount or the amount of initial duty or the amount of advance duty paid under subsection 37(1) and that such stamp has been affixed or used in accordance with the law for the time being in force; (b) any official receipt for the proper amount or the amount of initial duty or the amount of advance duty is affixed to the instrument; (c) a stamp certificate for the proper amount or the amount of initial duty or the amount of advance duty is attached to the *NOTE―The Securities Industry Act 1983 was repealed by the Capital Market and Services Act 2007 —see section 381…
makes, executes, or delivers out, or pays or allows in account, or agrees to pay or allow in account, any money upon or in respect of any policy other than a policy of sea insurance which is not duly stamped, shall be liable to a fine not exceeding one thousand ringgit.
money
“money” includes all sums whether expressed in the ringgit or in any other currency;
Provided that on application and for good cause shown by any person the Minister of Finance may extend the period mentioned in paragraph (a)
of this section to a period not exceeding three months in favour of such person.
Penalty for assuring on sea insurance unless under policy duly stamped