LAWS OF MALAYSIA


ACT 17
EXCHANGE CONTROL ACT 1953 (REVISED - 1969) [REPRINT - 1999]
Incorporating all amendments up to 24th August 1989

Revised up to : 1969 (Act No 17th w.e.f 14th April 1970)
First enacted : 1953 (Ordinance No 57 of 1953)
Date of coming into operation : West Malaysia - 1st January 1954 [L.N 818/1953];
East Malaysia - 6th August 1964 [L.N. 238/1964]

An Act to confer powers, and impose duties and restrictions in relation to gold, currency, payments, securities, debts, and the import, export, transfer and settlement of property, and for purposes connected with the matters aforsaid.

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ARRANGEMENT OF SECTIONS
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PART I - PRELIMINARY
Section 1. Short title.
Section 2. Interpretation.
Section 3. Bank Negara Malaysia to be responsible for administration, etc. of this Act, and Governor of Bank Negara Malaysia to be Controller of Foreign Exchange and to appoint other officers.

PART II - GOLD AND FOREIGN CURRENCY
Section 4. Dealings in gold and foreign currency.
Section 5. Surrender of gold and foreign currency.
Section 6. Bailees of gold and foreign currency.
Section 7. Traveller's cheques, etc.

PART III - PAYMENTS
Section 8. Payments in Malaysia.
Section 9. Payments outside Malaysia.
Section 10. Compensation deals.

PART IV - SECURITIES
Section 11. Issue of securities.
Section 12. Transfer of securities and coupons.
Section 13. Issue of bearer certificates and coupons.
Section 14. Substitution of securities and certificates outside Malaysia.
Section 15. Payment of capital moneys outside Malaysia.
Section 16. Duties of persons keeping registers.
Section 17. Additional provisions as to nominee holdings.
Section 18. Deposit of certificates of title.
Section 19. Additional provisions as to deposited certificates.
Section 20. Special provisions as to dealings in certain securities.
Section 21. Validation of certain transfers.
Section 22. Application of Part IV to secondary securities.
Section 23. Interpretation of Part IV.

PART V - IMPORT AND EXPORT
Section 24. Restrictions on import.
Section 25. General restrictions on export.
Section 26. Payment for exports.

PART VI - MISCELLANEOUS
Section 27. Duty to collect certain debts.
Section 28. Duty not to delay sale or importation of goods.
Section 29. Property obtained by infringement of Act.
Section 30. Provisions supplemental to preceding provisions of Part VI.
Section 31. Transfer of annuities, policies, etc.
Section 32. Settlements.
Section 33. Companies.

PART VII - SUPPLEMENTAL
Section 34. Exemptions.
Section 35. Blocked accounts.
Section 36. Contracts, legal proceedings, etc.
Section 37. Enforcement and administration.
Section 38. Application to Governments.
Section 39. Other powers.
Section 40. Financial provisions.
Section 41. Branches.
Section 42. Persons leaving the scheduled territories.
Section 43. Determination of residence.
Section 44. Controller may prohibit carrying out of certain orders by Governments of, or residents in, other countries.
Section 45. Exemption from stamp duty.
Section 46. Regulations.
FIRST SCHEDULE [Section 2]
SECOND SCHEDULE [Section 33 and 35]
THIRD SCHEDULE [Section 35]
FOURTH SCHEDULE [Section 36]
FIFTH SCHEDULE [Section 37]
LIST OF AMENDMENTS
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