Stamping of Letter of Offer from the Bank

Further to our circular No. 37 of 2008 dated 16^th September, 2008 on the abovementioned subject, appended below is the clarification from Lembaga Hasil Dalam Negeri (LHDN) for your attention:

A)                Letter of Offer –

i)                    When a Charge document is presented for stamping, a duly stamped

original Letter of Offer must be produced for inspection.

ii)                  As soon as the Letter of Offer has been issued by the Bank and executed by the borrower it is advisable to stamp immediately the Letter of Offer to avoid penalty on late stamping and the stamping fee is RM10.00.

iii)                If the Letter of Offer is not stamped immediately after the Bank issued it, and when the Letter of Offer is stamped exceeds the 30 days period, then penalty will be imposed by the Stamp office.

iv)                The Stamp office does not have any rules to exempt the penalty for the stamping of the Letter of Offer but through the discretion of the officer concerned, penalty could be exempted for the Letter of Offer dated before 15.08.2008.

B)                 Pendaftar Hakmilik Tanah, Melaka –

The clarification by the officer at the counter in charge of the presentation of the conveyancing document is as follows:-

i)                    There are no rules requiring the original Letter of Offer to be produced before presentation.

ii)                  Photocopy of the Letter of Offer is allowed to be filed together with other documents and the sum of RM40.00 will be charged for the filing under the heading “all other documents”.

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