Corporate Liability Provision
Following to the Corporate Liability Provision, Section 17A of the Malaysian Anti-Corruption Commission Act 2009, BHB would like to share the understanding of the Corporate Liability Act which was enforced on 1 June 2020.
What is Corporate Liability?
A new law provision, Section 17A of the Malaysian Anti-Corruption Commission Act 2009 (MACC Act 2009)
What is Corporate Liability?
A new law provision, Section 17A of the Malaysian Anti-Corruption Commission Act 2009 (MACC Act 2009)
What is the offence under Section 17A of the MACC Act 209?
A commercial organization can be prosecuted and punished for criminal offences when officers/employees/vendors/partners working on behalf of the commercial organisation commits a corrupt act.
What are the types of corruption offences?
If a person associated with the commercial organisation corruptly gives/agrees to give/promises to offer any gratification for the purpose of obtaining/retaining business or advantage in the conduct of business for the commercial organisation.
What are the types of corruption offences?
If a person associated with the commercial organisation corruptly gives/agrees to give/promises to offer any gratification for the purpose of obtaining/retaining business or advantage in the conduct of business for the commercial organisation.
What are the penalties?
- Fine of not less than ten (10) times the sum of value of the gratification or;
- RM1 million, whichever is higher or:
- Imprisonment of not more than 20 years, or both
When is the Corporate Liability Provision Act be enforced?
1 JUNE 2020
What are the steps taken by BHB against Section 17A?
T
Top level commitment
R
Risk Assessment
U
Undertake control measures
S
Systematic Review
T
Training and Communication
What are your responsibility?
Say NO TO BRIBERY and CORRUPTION!
Download, read and understand our Policies and Procedures
Say NO TO BRIBERY and CORRUPTION!
Download, read and understand our Policies and Procedures
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