Malaysian Anti Corruption Commission Act 2020

On 1 june 2020 the corporate liability provision under section 17a of the malaysian anti corruption commission act 2009 the act is set to come into force.

Malaysian anti corruption commission act 2020. Macc tracks mohd. Interpretation p art ii the malaysian anti corruption commission 4. Malaysia s corporate liability provision in section 17a of the malaysian anti corruption commission act 2009 macc act has been gazetted and will be in force on 1 june 2020. Apec actwg som iii held virtually for the first time 19 10 2020.

The gazette notice is found here. The malaysian anti corruption commission s logo is seen in putrajaya june 21 2017. In a statement ti malaysia said that under section 17a of the macc act a commercial organisation can be found guilty if individuals. Kuala lumpur june 1 section 17a of the malaysian anti corruption commission macc act 2009 amendment 2018 which comes into force today will encourage business activities with good integrity and promote good corporate governance practices.

It is a defence for an organisation to show it had adequate procedures in place to prevent such associated persons from carrying. Bursa malaysia on 18 december 2019 issued amended main market listing requirements and the ace market listing requirements setting out these measures. Transparency international malaysia ti malaysia is calling for the implementation of section 17a of the malaysian anti corruption commission macc act 2009 in june 2020 as promised to fight corruption involving business organisations. As highlighted in our earlier client alert see link a company may be held criminally liable for acts of corruption by its directors employees or other associated persons.

Picture by yusof mat isa. It is now critical for commercial organisations to have adequate procedures in place. On 21 5 2020 the prime minister s office announced that section 17a of the malaysian anti corruption commission act 2009 macc act remains on course to be implemented on 1 6 2020 despite requests from businesses for its implementation to be put on hold due to the covid 19 pandemic. From 1 june 2020 companies listed on the main market and ace market are required to introduce anti corruption measures.

Principal objects of act 3. Short title and commencement 2. After this amendment was gazetted on 4th may 2018 section 17a macc act 2009 was given a two year grace period to give room for commercial organisations to make appropriate preparations. The amendment for this provision and amendments to other sections had been implemented previously through the malaysian anti corruption commission act amendment 2018 a1567 act.

In a speech delivered on 10 december 2018 the prime minister of malaysia announced that the corporate liability amendments to the macc act will be brought into force on 1 june 2020. Establishment of the malaysian anti corruption commission 5. The malaysian anti corruption commission macc has announced the transfer of two senior officers involving the director of intelligence d. Macc tracks two individuals assisting to investigations 13 10 2020.

Instun tanjung malim perak expresses. Laws of malaysia act 694 malaysian anti corruption commission act 2009 arrangement of sections p art i preliminary section 1.