Malaysia Anti Corruption Act 2018
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.
Malaysia anti corruption act 2018. 1 january 2009 enacted by the parliament of malaysia as follows. Malaysian anti corruption commission appoinment of date of coming into operation. Malaysian anti corruption commision act 2009 act 694 malaysia anti corruption commision amendment act 2018 act a1567 guideline on adequate procedures.
Of corporates have suffered fraud or economic crime up from 28 in 2016. By a gazette dated 20 september 2018 the act comes into operation on 1 october 2018 save as for section 4 of the act on corporate liability. On 1 october 2018 the malaysian anti corruption commission amendment act 2018 amendment act came into force save for section 4 which relates to corporate liability provisions seeking to penalise commercial organisations for the corrupt practices of its associated persons.
In essence under section 17a of the macc act 2009 amendment 2018 commercial organisations are also liable to punishment if their employees or associates are involved in crimes of corruption. An act to provide for the establishment of the malaysian anti corruption commission to make further and better provisions for the prevention of corruption and for matters necessary thereto and connected therewith. The malaysian anti corruption commission macc act was amended in 2018 to introduce corporate liability for corruption offences which applies to malaysian commercial organisations.
Short title and commencement 1. It is good as everybody will be more concerned about the company. Enacted by the parliament of malaysia as follows.
On april 5 2018 the malaysian parliament amended the malaysian anti corruption commission act 2009 macc act to incorporate among others a new section 17a on corporate liability for corruption. 2 this act comes into operation on a date to be appointed by. Lodge an online report.
Putrajaya sept 3 section 17a of the malaysian anti corruption commission macc act 2009 amendment 2018 could wake up sleeping partners to be more responsible for the company said the macc s legal and prosecution division director roslan mat nor. 1 this act may be cited as the malaysian anti corruption commission amendment act 2018. The macc amendment act came into effect on 1 october 2018 save for section 4 which inserts section 17a into the macc act 2009 with the effect of introducing a new corporate liability in the form of corruption offence committed by commercial organisation.
