PUTRAJAYA: A revised Malaysian Anti-Corruption Commission (MACC) Act 2009, containing among others, a provision on corporate liability is likely to come into force in 2018.
Minister in the Prime Minister’s Department, Datuk Paul Low Seng Kuang said the proposed amendments to the act were expected to be tabled at the parliamentary sitting this month or the latest by March next year.
Once approved, companies may need a grace period of one year to put in place anti-corruption measures and adjust their procedures, he told reporters on the sidelines of the Conference on Corporate Integrity Pledge (CIP) 2016, here, today.
Low said the new bill would give more power to the MACC in fighting corruption in the private sector as it would allow for firms to be held liable when their employees committed bribery.
He said the amendments would also include some adequate measures and penalties, adding that such amendments had already been implemented in developed countries such as the United Kingdom and in Europe.
Meanwhile, MACC director of Inspections and Consultancy, Datuk Mohamad Yusoff Akope said more than 800 companies had signed the CIP, a programme introduced in 2012 aimed at combating corruption in the corporate sector.
“About 300 participants joined the one-day conference held by MACC,” he said on the conference themed ‘Gearing Up For Global Challenges Programme’.-- BERNAMA