Corporate Liability – The Inside Out of Section 17A of MACC Act



  • Refresher



  • 5 SIDC CPE points
  • 4 FIMM CPD points


ICF Competency Type / Title / Level

  • Core  / Corporate Governance / Level 2


Learning Outcome

  • Recognise how corruption impacts society;
  • Explain the new Section 17A of the MACC Act which will affect all corporates including listed companies;
  • Identify tools for prevention of corrupt practices;
  • List down the adequate procedures as defence for an organisation in the event of prosecution.


Course Synopsis

Corruption is a disease that has torn nations apart and it’s a cancer that can destroy societies if not tackled head-on.  World Economic Forum estimates that cost of corruption is at least US$2.6 trillion or approximately 5% of global GDP and according to World Bank, businesses and individuals pay more than US$1 trillion a year.  In Malaysia too, corruption is seen as a big issue as society sees rising cost associated with corrupt practices, both in the public and private sector.


Malaysia’s path towards addressing corruption issues took a giant step forward with the introduction of the Section 17A of the MACC Act 2009 in April 2018.  The provision of Section 17A criminalises an organisation for corruption-related actions by associated persons done for the benefit of the company.


The new section comes in force on 1 June 2020 and it is imperative for corporates to have the right framework to ensure that it is not caught off guard.  Most importantly, board members and senior management ought to understand the implication of Section 17A on them and what steps one can take to ensure it has adequate procedures ready.

Course Content

Total learning: 5 lessons / 3 quizzes Time: 1 hour
  • Downloadable Notes  0/1

    • 1.1
  • Defining Corruption and Section 17A of the MACC Act  0/3

    • 2.1
    • 2.2
    • Quiz2.1
  • Adequate Procedure – The Heart of Readiness for Section 17A  0/3

    • 3.1
    • 3.2
    • Quiz3.1
  • Test  0/1

    • Quiz4.1


Pankajkumar Bipinchandra

Pankaj graduated with Bachelor of Accounting with an Honors degree from University of Malaya in 1990 and in 2014 also obtained an MBA in Finance from the same University. His last held position was as Director, Head of Corporate Strategy & Investments at KSK Group Berhad, a position he held since Oct 2012 and up to early June of 2018. Prior to this, he was the Chief Investment Officer at Kurnia Insurans Malaysia Berhad between 2005 and 2012. In his previous position, he had joined OSK Research in 1996 and rose rank and file to assume the position as Head of Research in 2002 and up to 2005. He is widely recognized in the industry as the thoughts behind the inaugural “Top Malaysian Small Cap Companies: 100 Hidden Jewels” in 2005. He is also well recognized in the market for his many contribution both in commentary as well as a weekly column in The Star since June 2018. Pankaj is also a member of the Institute of Corporate Directors Malaysia (ICDM) and conducts numerous Continuous Professional Education (CPE) classes approved by the Securities Industry Development Corporation (SIDC).


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  • 5 SIDC CPE points
  • 4 FIMM CPD points