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Assignment of Revenue (Export Duty on Iron Ore) Act 1962 (Revised 1989)

on Iron Ore)

1

LAWS OF MALAYSIA

REPRINT

Act 395

ASSIGNMENT OF REVENUE

(EXPORT DUTY ON IRON ORE)

ACT 1962

Incorporating all amendments up to 1 January 2006 PUBLISHED BY

THE COMMISSIONER OF LAW REVISION, MALAYSIA

UNDER THE AUTHORITY OF THE REVISION OF LAWS ACT 1968 IN COLLABORATION WITH

PERCETAKAN NASIONAL MALAYSIA BHD

2006

2 Laws of Malaysia ACT 395

ASSIGNMENT OF REVENUE (EXPORT DUTY

ON IRON ORE) ACT 1962

First enacted ... ... ... ... ... ... 1962 (Act No. 27 of 1962)

Date of publication in the Gazette ... 1989 (Act 395 w.e.f. 16 November 1989)

PREVIOUS REPRINT

First Reprint ... ... ... ... ... 2001

Assignment of Revenue (Export Duty

on Iron Ore)

3

LAWS OF MALAYSIA

Act 395

ASSIGNMENT OF REVENUE (EXPORT DUTY

ON IRON ORE) ACT 1962

ARRANGEMENT OF SECTIONS

Section

1. Short title and application 1A. Interpretation

2. Assignment to States of whole or part of export duty on iron ore

3. Restriction of royalty provisions in leases, etc. 4 Laws of Malaysia ACT 395

Assignment of Revenue (Export Duty

on Iron Ore)

5

LAWS OF MALAYSIA

Act 395

ASSIGNMENT OF REVENUE (EXPORT DUTY

ON IRON ORE) ACT 1962

An Act to provide for the assignment to States of export duty on iron ore and to restrict the levying of royalties and like payments in respect of iron ore.

[26 July 1962]

BE IT ENACTED by the Seri Paduka Baginda Yang di-Pertuan Agong with the advice and consent of the Dewan Negara and Dewan Rakyat in Parliament assembled, and by the authority of the same, as follows:

Short title and application

1. (1) This Act may be cited as the Assignment of Revenue (Export Duty on Iron Ore) Act 1962.

(2) This Act shall apply to the States of *Peninsular Malaysia only.

Interpretation

1A. In this Act, unless the context otherwise requires-- "export duty" means export duty under the Customs Act 1952 [Act 235];

"iron ore" means iron ore or iron concentrates not including pyrites;

"the Minister" means the Minister of Finance;

"the relevant date" has the meaning assigned by subsection 2(1). 6 Laws of Malaysia ACT 395

Assignment to States of whole or part of export duty on iron ore

2. (1) In the case of iron ore produced in any State and exported after the end of the month of September, nineteen hundred and sixty-two (hereinafter referred to as "the relevant date") there shall be assigned to that State the export duty levied on the ore or so much thereof as does not exceed 10 per cent ad valorem on the value of the ore (as ascertained for the purposes of export duty). (2) In the case of iron ore produced in any State and exported before the relevant date the Minister may assign to the State the whole, or such proportion as he considers equitable, of the export duty levied on the ore.

(3) The Minister may by order direct that subsection (1) shall have effect with the substitution for 10 per cent of such other percentage as may be specified in the order; but any order under this subsection shall be laid before the Dewan Rakyat and shall not have effect until approved by resolution of that House. Restriction of royalty provisions in leases, etc.

3. No provision for the levying of royalties on, or similar charges in respect of, iron ore produced in any State (whether under a lease or other instrument or under any State Enactment, and whether the instrument was made or the Enactment passed before or after the coming into operation of this section) shall have effect after the relevant date except--

(a) in the case of a provision made before the coming into operation of this section, in so far as the Minister (whether before or after the relevant date) directs that the provision shall have effect;

(b) in the case of a provision made after the coming into operation of this section, if the Minister has signified his approval in writing to the provision.

Assignment of Revenue (Export Duty

on Iron Ore)

7

LAWS OF MALAYSIA

Act 395

ASSIGNMENT OF REVENUE (EXPORT DUTY

ON IRON ORE) ACT 1962

LIST OF AMENDMENTS

Amending law Short title In force from

­ NIL ­

8 Laws of Malaysia ACT 395

LAWS OF MALAYSIA

Act 395

ASSIGNMENT OF REVENUE (EXPORT DUTY

ON IRON ORE) ACT 1962

LIST OF SECTIONS AMENDED

Section Amending authority In force from

­ NIL ­

DICETAK OLEH

PERCETAKAN NASIONAL MALAYSIA BERHAD,

KUALA LUMPUR

BAGI PIHAK DAN DENGAN PERINTAH KERAJAAN MALAYSIA