ASSIGNMENT OF REVENUE (EXPORT DUTY ON IRON ORE) ACT 1962

LAWS OF MALAYSIA ONLINE VERSION OF UPDATED TEXT OF REPRINT Act 395 ASSIGNMENT OF REVENUE (EXPORT DUTY ON IRON ORE) ACT 1962 As at 1 December 2011 2 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 REPRINTS First Reprint ... ... ... ... ... 2001 Second Reprint ... ... ... ... ... 2006 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 1 A. Interpretation 2. Assignment to States of whole or part of export duty on iron ore 3. Restriction of royalty provisions in leases, etc. 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 diPertuan 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]; *NOTE─ All references to “West Malaysia” shall be construed as reference to “Peninsular Malaysia”–see the Interpretation (Amendment) Act 1997 [Act A996], subsection 5(2). 6 Laws Of Malaysia ACT 395 “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). 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— Assignment of Revenue (Export Duty On Iron Ore) Act 7 (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. 8 LAWS OF MALAYSIA Act 395 ASSIGNMENT OF REVENUE (EXPORT DUTY ON IRON ORE) ACT 1962 LIST OF AMENDMENTS Amending law Short title − NIL− In force from 9 LAWS OF MALAYSIA Act 395 ASSIGNMENT OF REVENUE (EXPORT DUTY ON IRON ORE) ACT 1962 LIST OF SECTIONS AMENDED Section Amending authority − NIL− In force from