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.
“It is good as everybody will be more concerned about the company. You cannot simply form a company just for the sake of setting it up,” he told reporters after attending the ‘Understanding Corporate Liability Law and Its Impact’ session at the second Malaysia Anti-Corruption Forum, here, today.
Under the law which came into effect on June 1, commercial organisations are liable if their employees or associates are involved in corruption and the penalty is not more than 10 times the amount of the bribe or RM1 million, whichever is higher, or 20 years’ jail, or both.
“Under Section 17A of the MACC Act 2009, if your employee commits any offence, you will also be implicated,” said Roslan.
He said room for corruption would be minimised as companies would be afraid if there was a report lodged with the MACC or enforcement following investigation based on the audit reports. — Bernama