malaysia - Banking & Finance - Legislation

Bill of the Finance Bill 2018

This Bill seeks to amend the Income Tax Act 1967, the Promotion of Investments Act 1986, the Stamp Act 1949, the Real Property Gains Tax Act 1976, the Labuan Business Activity Tax Act 1990, the Service Tax Act 2018 and the Sales Tax Act 2018.
Date: 22 November 2018; Type: Federal Bill; Citation: DR 24 of 2018; Source: Parliament

Central Bank of Malaysia (Implementation of the United Nations Security Council Resolutions Relating to the Central African Republic) Regulations 2018

The object of these Regulations is to implement the measures decided by the United Nations Security Council in pursuance of Article 41 of the Charter of the United Nations to give effect to the freezing of funds, financial assets and economic resources relating to the Central African Republic and to provide for other related matters.
Date: 02 November 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 282 of 2018; Source: AGC Federal Gazette

Moneylenders (Compounding of Offences) (Amendment) Regulations 2018

These Regulations come into operation on 1 October 2018.
Date: 28 September 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 240 of 2018; Source: AGC Federal Gazette

List of Licensees under the Money Services Business Act 2011

The licensees' list as on 16 March 2018.
Date: 27 April 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (B) 219 of 2018; Source: AGC Federal Gazette

Capital Markets and Services (Fees) (Amendment) Regulations 2018

These Regulations come into operation on 5 April 2018.
Date: 04 April 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 87 of 2018; Source: AGC Federal Gazette

Capital Markets and Services (Prescription for Excluded Offers and Invitations and Excluded Issues for Seasoned Bonds) Order 2018

This Order comes into operation on 5 April 2018.
Date: 04 April 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 88 of 2018; Source: AGC Federal Gazette

Capital Markets and Services (Amendment of Schedules 6 and 7) Order 2018

This Order comes into operation on 5 April 2018.
Date: 04 April 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 89 of 2018; Source: AGC Federal Gazette

List of Labuan Banks and Labuan Investment Banks

This is to notify the list of Labuan banks and Labuan investment banks whose licences are valid as at 31 December 2017.
Date: 29 March 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (B) 150 of 2018; Source: AGC Federal Gazette

List of Takaful Licensees

This is to notify the list of takaful licensees whose licences are valid as at 31 December 2017.
Date: 29 March 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (B) 153 of 2018; Source: AGC Federal Gazette

List of Labuan Islamic Banks

This is to notify the list of Labuan Islamic banks whose licences are valid as at 31 December 2017.
Date: 29 March 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (B) 152 of 2018; Source: AGC Federal Gazette

Pawnbrokers (Compounding of Offences) Regulations 2018

These Regulations come into operation on 1 March 2018.
Date: 26 February 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 58 of 2018; Source: AGC Federal Gazette

Financial Services (Exemption) Order 2018

This is to notify that the Development Bank of Sarawak Berhad is exempted from the application of subsections 137(1) and 138(1) of the Financial Sevices Act 2013 subject to the compliance of the specified conditions.
Date: 23 February 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 54 of 2018; Source: AGC Federal Gazette

Labuan Financial Services and Securities (Amendment) Regulations 2018

These Regulations come into operation on 1 July 2018.
Date: 20 February 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 47 of 2018; Source: AGC Federal Gazette

Capital Markets and Services (Amendment of Schedule 5) Order 2018

This Order comes into operation on 1 April 2018.
Date: 06 February 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 22 of 2018; Source: AGC Federal Gazette

Interest Schemes (Amendment of Second Schedule) Order 2018

This Order comes into operation on 31 January 2018.
Date: 30 January 2018; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 14 of 2018; Source: AGC Federal Gazette

Appointment of Date of Coming into Operation of the Finance Act (No. 2) 2017

Under the Finance Act (No. 2) 2017, the Minister appoints 1 January 2018 for Sections 20, 21, 23 and 1 October 2018 for Section 22 as the dates on which these Sections of the Act come into operation.
Date: 29 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (B) 610 of 2017; Source: AGC Federal Gazette

Supply Act 2018

An Act to apply a sum from the Consolidated Fund for the service of the year 2018 and to appropriate that sum for the service of that year.
Date: 29 December 2017; Type: Federal Amendment Act; Citation: Act A1557 of 2017; Source: AGC Federal Gazette

Finance (No. 2) Act 2017

An Act to amend the Income Tax Act 1967, the Real Property Gains Tax Act 1976, the Goods and Services Tax Act 2014 and the Finance Act 2013.
Date: 29 December 2017; Type: Federal Act; Citation: Act 801 of 2017; Source: AGC Federal Gazette

Amendment to the List of Licensees pursuant to the Money Services Business Act 2011

The Bank publishes an amended List of Licensees in pursuant to subsection 20(2) of the Money Services Business Act 2011.
Date: 18 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (B) 584 of 2017; Source: AGC Federal Gazette

Capital Markets and Services (Prescription of Securities and Islamic Securities) (Investment Note and Islamic Investment Note) (Amendment) Order 2017

This Order comes into operation on 22 December 2017.
Date: 18 December 2017; Type: Federal Subsidiary Legislation; Citation: P.U. (A) 390 of 2017; Source: AGC Federal Gazette

INDUSTRY UPDATES

SC welcomes Malaysia's Improved Ranking in Corporate Governance

KUALA LUMPUR, Dec 13 (Bernama) - The Securities Commission Malaysia (SC) is encouraged by the recognition of Malaysia's initiatives to improve corporate governance, which was a result of the collective effort by various stakeholders.

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INDUSTRY UPDATES

MyCC to identify Anti-Competitive Elements in Eggs Market

KUALA LUMPUR, Dec 13 (Bernama) - The Malaysia Competition Commission (MyCC) is working closely with the Ministry of Domestic Trade and Consumer Affairs (MDTCA) to identify any anti-competitive elements that may occur in the domestic market for chicken eggs.

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INDUSTRY UPDATES

MITI, MIDA, Intel hold IoT Forum to review Progress

KUALA LUMPUR, Dec 12 (Bernama) - The Ministry of International Trade and Industry (MITI), Malaysian Investment Development Authority (MIDA) and Intel Malaysia conducted the Internet of Things (IoT) Malaysia Forum 2018 yesterday to review IoT’s progress since its introduction five years ago.

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INDUSTRY UPDATES

Dewan Rakyat adjourns, Reform Agenda implemented - Speaker

KUALA LUMPUR, Dec 11 (Bernama) - The reform agenda of the Parliament was implemented at the second meeting of the first term of the 14th Parliament which came to a close today after sitting for 30 days since Oct 15.

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INDUSTRY UPDATES

Court proposes Mediation in Theresa Kok's Suit against Jamal

KUALA LUMPUR, Dec 11 (Bernama) - The High Court today proposed that Primary Industries Minister Teresa Kok who filed a libel suit against Datuk Seri Jamal Md Yunos over alleged misuse of Yayasan Warisan Anak Selangor (Yawas) funds, resolve the case via mediation.

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INDUSTRY UPDATES

Government concerned about Readiness of SMEs to adopt Industry 4.0

KUALA LUMPUR, Dec 10 (Bernama) - The Government is concerned about the readiness of local industries, particularly Small and Medium Enterprises (SMEs), to adopt Industry 4.0.

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INDUSTRY UPDATES

Memorandum of Understanding between Bank Negara Malaysia and Dubai Financial Services Authority

On 28 November 2018, Bank Negara Malaysia (BNM) and Dubai Financial Services Authority (DFSA) had signed a Memorandum of Understanding (MoU) on supervisory cooperation for effective supervision of banking and insurance/ takaful/ reinsurance institutions operating in both countries.

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INDUSTRY UPDATES

Najib, Irwan's trial on RM6.6 Billion CBT Case transferred to High Court

KUALA LUMPUR, Dec 7 (Bernama) - The trial of former prime minister Datuk Seri Najib Tun Razak and former Treasury secretary-general Tan Sri Mohd Irwan Serigar Abdullah, who are facing six counts of Criminal Breach of Trust (CBT) involving RM6.6 billion, has been transferred to the High Court.

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INDUSTRY UPDATES

Malaysia's ePassport recognised as Regional ID Document of the Year

KUALA LUMPUR, 6 Dec (Bernama) - The Malaysian Immigration Department received the 2018 Regional ID Document of the Year Award, an acknowledgement for its innovative and class leading Malaysian ePassport.

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INDUSTRY UPDATES

Malaysia's first Geothermal Power Plant approval Withdrawn

KUALA LUMPUR, Dec 6 (Bernama) - Parliament was informed today that the approval given to Tawau Green Energy Sdn Bhd to build the country’s first geothermal power plant was cancelled on Aug 29 by the government.

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INDUSTRY UPDATES

Defence wants Judge to recuse himself from hearing Shafee's Cases

KUALA LUMPUR, Dec 5 (Bernama) - The defence will submit an appeal to the High Court judge Collin Lawrence Sequerah seeking that he withdraws from hearing cases on two money-laundering charges and another two on incorrect filings made to the Inland Revenue Board (IRB), faced by lawyer Tan Sri Muhammad Shafee Abdullah.

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INDUSTRY UPDATES

Perak First State to have Shariah Supreme Court

IPOH, Dec 5 (Bernama) - Perak will be the first state in the country to have four levels of shariah courts, with the Supreme Court as the apex court, after the State Legislative Assembly today passed the Shariah Court (Perak) Enactment 2018.

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INDUSTRY UPDATES

Ministry received 823 Complaints since implementing SST

KUALA LUMPUR, Dec 5 (Bernama) - Ministry of Domestic Trade and Consumer Affairs have received a total of 823 complaints mostly related to the rise in prices of goods since the implementation of the Sales and Service Tax (SST) on Sept 1.

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INDUSTRY UPDATES

Observe Malaysian Laws, pay Heed to Local Religious Adherences - Finnish Envoy

KUALA LUMPUR, Dec 5 (Bernama) - Finnish citizens have been advised to respect Malaysian laws and regulations and pay heed to local religious adherences, says Finland Ambassador to Malaysia, Petri Puhakka.

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INDUSTRY UPDATES

14,868 Contract Workers employed by Government

KUALA LUMPUR, Dec 3 (Bernama) - Up till April 9, 2018, the government employed 14,868 people on a contractual basis for its various agencies, Deputy Minister in the Prime Minister's Department, Mohamed Hanipa Maidin, told Parliament today.

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