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16.01. Fees and disbursements

(1). Vetting fees

A Solicitor acting for a developer in attending to vetting documents (including witnessing the same) relating to the assignment of rights, title and interests in any property under a sale and purchase agreement, is entitled to charge a fee of RM200/= in respect of any one document:-

(a) in relation to consent of a developer for the assignment from an assignor to an assignee;

(b) in relation to reassignment from a financial institution to an assignor; and

(c) in relation to the assignment from the assignee to the financial institution.

In the event that the attendances involve more than one document the Solicitor is entitled to charge RM400/- for all the documents involved.

This Ruling shall apply to the vetting of documents for properties or land other than that for housing accommodation as defined under the Housing Development (Control and Licensing) Amendment Act 2007.

(2) Islamic Financing

(i) Any Advocate and Solicitor, irrespective of his religion, race or sex, may attend to all legal matters involving Islamic financing, including preparing, witnessing, attesting, registering and otherwise attending to all instruments, security and other documents.

Note : (See direction from Bank Negara through Majlis Penasihat Syariah Kebangsaan: “Perkara-perkara berkaitan perundangan seperti mendrafkan suratcara, pendakwaan, saksi dan sebagainya yang melibatkan pembiayaan kewangan secara Islam boleh dilaksanakan oleh peguambela dan peguamcara tidak mengira agama, bangsa dan jantina”).

(ii) The words “Financing Documents” in the heading of the Third Schedule of the SRO 2005 refers to agreements for financing involving only immovable property under the Islamic banking business as defined in the Islamic Banking Act, 1983.

(3) Solicitors to return unused Disbursement

Solicitors shall return all unused disbursements to their clients save and except for such portions reasonably retained for miscellaneous expenses.

(4) Discharging Solicitors, release of documents and lien over documents

(a) A Solicitor is entitled to be paid the scale or appropriate fee before he is discharged in a conveyancing matter.

(b) Solicitors are entitled to exercise their lien over documents:

(i) until their scale or appropriate fees are paid; or

(ii) until the appropriate undertaking to pay the scale or appropriate fee is received from the new Solicitor.

(5) Not to charge fees based on a percentage of the interest accrued from fixed deposit

Unless otherwise agreed in writing, Solicitors shall not charge, for administrative costs and charges, a fee based on a percentage of the interest earned from fixed deposits but may charge a reasonable fee pursuant to the Sixth Schedule of the Solicitors’ Remuneration Order.

(6) Solicitors not to collect stamp duty for Transfer/Charge until after issue of title

Where no separate document of title is available for a property, no Solicitor shall collect any stamp duty and other disbursements for the transfer/charge of the property until after the separate document of title is issued.

(7) Vendor’s or Developer’s Solicitor not to charge fee for supply of Sale and Purchase Agreement

The vendor’s or developer’s Solicitor shall prepare and supply the sale and purchase agreement unless otherwise mutually agreed with the purchaser. The Solicitors preparing the sale and purchase agreement shall not charge for supplying the sale and purchase agreement.