Law allowing companies to be charged with corruption to come into effect June 1


KUALA LUMPUR: The government has decided to go ahead and enforce the corporate liability law come June 1.

This would make it an offence for a commercial organisation if any of its employees or allies are found to be involved in corrupt practices for the benefit of the organisation.

The Prime Minister's Office said that the government has decided to go ahead with implementing the provision which comes under Section 17A of the Malaysian Anti-Corruption Commission (MACC) Act 2009 after assessing the current situation and taking into consideration various views.

"After considering the current situation and the views of all parties, the government has decided that the implementation of the corporate liability law will continue to be enforced from June 1, 2020,” it said in a statement Thursday (May 21).

The provision states that it is an offence for a commercial organisation if any of its employees or allies are involved in corrupt practices that are carried out for the benefit of the organisation.

Among others, the provision will encourage commercial organisations to take the necessary and suitable measures to ensure that the business that they carry out does not involve in any corrupt activities.

The government gazetted Section 17A of the Malaysian Anti-Corruption Commission Act on May 4, 2018.

However, there have been calls for the enforcement of the new provision to be postponed for a year in view of the Covid-19 pandemic, which has caused business interruptions to many companies.

MACC chief commissioner Datuk Seri Azam Baki said that the government was studying feedback that urged the provision be delayed as companies were not ready for the appropriate anti-corruption plan.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

MACC Act , Corporate Liability , Corruption

   

Next In Nation

JPJ: All licenses must be renewed by Sept 30
Johor Sultan says vaccination rate in the state needs to improve
Umno's deputy minister Ismail Abd Muttalid expresses support for Muhyiddin
Sarawak unveils RM800mil aid package for businesses
Shafie wants PM to call for Dewan Rakyat sitting now
Covid-19: Two new records with 257 deaths and 19,819 daily cases reported
Covid-19: Interstate travel for wedding leads to new cluster in Terengganu
Newborn baby found dead in stairwell in Bundusan, Sabah
Umno wants Parliament to sit immediately, not in September
Victims in Muallim, Perak lost over RM230,000 to scammers this year

Stories You'll Enjoy


Vouchers