No Escape From Macc S New Section 17a For Companies




The new Section 17A of the MACC Act which took effect on June 1, 2020, introduces corporate liability for corruption and uses a deeming provision to shift the burden of proof to the business' directors, controllers and management
Section 17A applies to companies incorporated under the Malaysian Companies Act 2016 and also applies to any company or partnership incorporated or established anywhere outside Malaysia but which conducts business in Malaysia
Subsection 17A(6) stipulates that a ‘person associated’ with a ‘commercial organisation’ may include directors, partners, and employees of the commercial organisation, as well as any person ‘who performs services for or on behalf of the commercial organisation’
Association is determined by reference to all the relevant circumstances and not merely by reference to the nature of the relationship between the person and the commercial organisation
Upon conviction, the commercial organisation is liable to a fine of not less than 10 times the value of the gratification involved or RM1 million, whichever is higher; or a jail sentence not exceeding 20 years or both
According to The Global Infrastructure Anti-Corruption Centre (GIACC), in its narrowest sense, corruption is interpreted as referring to bribery only
In its wider sense, corruption includes extortion, fraud, cartels, abuse of power, embezzlement, and money laundering
The wider definition is preferable by GIACC as these corrupt acts are all criminal offences that normally involve deception; are concealed; have illegal profit as their objective; often occur together; normally result in financial loss/defective quality and require similar preventive/detection measures
As a company is a separate legal entity but has no physical existence as a ‘person’, it may be fined but it cannot be imprisoned
In this connection, the law must interpret the state of mind of the company, especially where these relate to the liability of the company for a criminal offence
The necessary mens rea or criminal resolve of a company can be established via the ‘identification principle’ or the ‘attribution principle’ where a company may be held liable for the criminal acts by those who are deemed to be the directing mind and will of the company: its alter ego
By attributing the directing mind and will of individuals to companies, the courts are in effect lifting the corporate veil to determine who is in control or behind the company
The imposition of criminal liability on commercial organizations and their associated persons will have a far-reaching effect on all businesses and their conduct
For the property sector and purchasers, will the new MACC law have an effect on its management and heightened accountability from the developer
Will this elevate developer's compliance with the Strata Management Act 2013 (‘SMA’) which has already criminalised a host of non-compliances with the SMA, in particular the financial provisions
SMA’s Sections 13 and 53 lays down the law when a strata property is first developed, the developer shall establish the maintenance and sinking fund accounts with respect to the development before the delivery of vacant possession
Monies in the accounts shall not form part of the property of the developer and such funds not used for a reasonable period of time should be placed in an interest-bearing account
Yet, the Ministry of Housing and Local Government and the Strata Management Tribunal can share cases and complaints of abuses, misappropriation of sinking funds, monies collected and banked into the developer's or their attorney holder's 'Sdn Bhd' company accounts
Section 140 of the SMA states:"If a body corporate commits an offence under this Act or its subsidiary legislation, a person who at the time of the commission of the offence was a director, a member of the management committee, a member of the subsidiary management committee, a member of the joint management committee, chief executive officer, manager, secretary or other similar officer of the body corporate or was purporting to act in any such capacity or was in any manner or to any extent responsible for the management of any of the affairs of the body corporate or was assisting in such management- a) may be charged severally or jointly in the same proceedings with the body corporate."Thence, misappropriation of the fund by bodies or persons who unilaterally dig into the fund without proper authorisation is a criminal breach of trust and is punishable by imprisonment
It will be interesting for stakeholders on how the SMA will be affected by the butterfly effect of MACC's new Section 17A
As Malaysia aims to be one of the top 10 ‘cleanest’ nations in the world by 2030, all eyes will be on the Malaysian judiciary, prosecution and law enforcement agencies to exercise jurisdiction as the laws intended. - Mkini

Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2020/06/no-escape-from-maccs-new-section-17a.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MalaysiansMustKnowTheTruth+%28Malaysians+Mus

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
The Way Forward For Macc From Toothless To Ruthless

The Way Forward For Macc From Toothless To Ruthless

papar berkaitan - pada 13/6/2020 - jumlah : 346 hits
At the height of the news on the 1MDB scandal in 2015 a surreal drama was being played out Two enforcement arms of the government were involved in a serious game of us versus you It was not a charade when the Royal Malaysian Police took on ...
Maybank Sued For Thwarting Luxury Tribeca Condo Tower In New York

Maybank Sued For Thwarting Luxury Tribeca Condo Tower In New York

papar berkaitan - pada 12/6/2020 - jumlah : 330 hits
The developer of a New York luxury condo project is seeking an award of more than US 245 million NEW YORK The developer of a 43 storey luxury condo building in Manhattan s Tribeca neighbourhood has sued Malaysia s biggest bank for reneging ...
N Korea Discusses New Policies For Increasing Nuclear War Deterrence Kcna

N Korea Discusses New Policies For Increasing Nuclear War Deterrence Kcna

papar berkaitan - pada 25/5/2020 - jumlah : 324 hits
The meeting was Kim 8217 s first reported public appearance in more than three weeks and came after reports said the Trump administration had discussed holding the first US nuclear test in decades 8211 AFP photo North Korea discussed new po...
Perak Announces Portfolios For New Excos Minor Reshuffle

Perak Announces Portfolios For New Excos Minor Reshuffle

papar berkaitan - pada 29/5/2020 - jumlah : 435 hits
Perak Menteri Besar Ahmad Faizal Azumu has announced the portfolios of the three new exco members from Umno who had been on May 12 Lintang state assemblyperson Mohd Zolkafly Harun is appointed as chairperson of the Infrastructure Energy Wat...
Legoland Malaysia Resort Primed For New Measures In Place

Legoland Malaysia Resort Primed For New Measures In Place

papar berkaitan - pada 6/6/2020 - jumlah : 489 hits
LEGOLAND Malaysia Resort Primed for New Measures in Place The ultimate all in one destination reveals how it will adapt to the new normal without compromising on health and safety With the
From Gym To Wet Market Fitness Trainer Thanks M Sians For Show Of Support

From Gym To Wet Market Fitness Trainer Thanks M Sians For Show Of Support

papar berkaitan - pada 7/6/2020 - jumlah : 390 hits
Chin Jie Xun a fitness trainer whose willingness to work in a wet market touched the hearts of Malaysians has thanked the public for their outpouring of support The 34 year old has been receiving a lot of attention after The Star ran a stor...
Malaysians Are Reselling Uniqlo S New Billie Eilish Collection For Double The Price

Malaysians Are Reselling Uniqlo S New Billie Eilish Collection For Double The Price

papar berkaitan - pada 4/6/2020 - jumlah : 444 hits
Queueing at UNIQLO today but because of resellers there was no more stock img alt Small thumb 2000f6325dfc4fc3201fc45ed01c7a5d src https images says com uploads user avatar 706226 small thumb 2000f6325dfc4fc3201fc45ed01c7a5d png img By Alys...
Yoursay Aside From Alcohol Here S A List For Pas Should Ban

Yoursay Aside From Alcohol Here S A List For Pas Should Ban

papar berkaitan - pada 28/5/2020 - jumlah : 413 hits
YOURSAY By the same logic ban all humans as well Vijay47 Certainly alcoholic drinks the inspiration of Lucifer himself must be eradicated and Malaysia once again will be at peace with itself As PAS information chief Kamaruzaman Mohamad has ...
Netflix Confirms Premiere On New K Drama Record Of Youth For 2nd Half Of 2020

Netflix Confirms Premiere On New K Drama Record Of Youth For 2nd Half Of 2020

papar berkaitan - pada 1/6/2020 - jumlah : 460 hits
KUALA LUMPUR June 1 2020 Netflix has confirmed the premiere of Record of Youth a new series starring Park Bo gum Park So dam and Byeon Woo seok for the latter half of 2020 Record of Youth is directed by An Gil ho who has a solid track recor...
Wanita Maut Ditikam Suami Di Leher

Raja Muda Selangor Titah Mangsa Kebakaran Ditempat Di Lokasi Lebih Selesa

Eplacement Kkm Tarikh Baru Permohonan 2025

Siasat Terperinci Dijalankan

Cidb Retracts Statement On Putra Heights Blast Findings

Turning Your Startup Dream To Reality

Ustazah Asma Harun Tegur Wanita Muslim Berjoget Sebelum Ambil Duit Raya Jangan Normalisasikan

Kebakaran Putra Heights Punca Kronologi Perkembangan Terkini


echo '';
Info Dan Sinopsis Drama Berepisod Dendam Seorang Madu Slot Tiara Astro Prima

10 Fakta Biodata Amira Othman Yang Digosip Dengan Fattah Amin Penyanyi Lagu Bila Nak Kahwin

5 Tips Macam Mana Nak Ajak Orang Kita Suka Dating Dengan Kita

Info Dan Sinopsis Drama Berepisod Keluarga Itu Slot Lestary TV3

Bolehkah Manusia Transgender Mencapai Klimaks Selepas Bertukar


Ways Syahdu Chord

Malaysia Hit With 24 Reciprocal Tariff By The Us

Income Based Traffic Fines Unfair Will Create Social Bias Says Expert

Resign If You Can T Perform Aaron

Naik Kerja Dah

Petai Tua Jering Muda