Discover New Act on Anti Corruption and Bribery that affect us!

Overview

A brief explore on the impact of Malaysia Anti Corruption and Commission (MACC Act, 2009) w.e.f 1 June 2020.

MACC Act, 2009

What is Section 17A of MACC Act 2009?

Section 17A of MACC Act 2009 – Click this link to retrieve on the new Section 17A (Page 5)

http://www.federalgazette.agc.gov.my/outputaktap/20180504_A1567_BI_Act%20A1567.pdf

From the introduction of this new act, a commercial organisation is liable and they can be punished if their directors, controllers, management, employees and/ or associates are involved in corruption crimes.

This act is to encourage business activities to be carried out with integrity and to promote good governance practices in organisations; not with any intention to punish the commercial organisations.

Although not intend to punish the commercial organisations, a fine of not more than 10 times of the amount of bribe received or RM1 million, whichever is higher, or 20 years jail sentence or both will be imposed upon conviction.

However, a commercial organisation is allowed to defend or to prove that it had 'adequate procedures' in place to prevent corruption in their operations or businesses.

For more information, click here:

- MACC official website https://www.sprm.gov.my/.

- Gazette Order https://www.sprm.gov.my/images/Akta-akta/wartakerajaan.pdf

- Guidelines http://giacc.jpm.gov.my/garis-panduan-tatacara/.

This message was brought to you by KTP.