MANAGEMENT

Detailed explanation-1: -The implementation of the corporate liability provision involving commercial organisations under Section 17A MACC Act 2009 is enforced on 1st June 2020.

Detailed explanation-2: -Corporate Liability : Whereby if an offence is committed by Persons Associated to the Commercial Organisation, the Commercial Organisation is automatically deemed to have committed the offence unless it can prove “adequate procedures to prevent” the conduct.

Detailed explanation-3: -Corporate liability, also referred to as liability of legal persons, determines the extent to which a company as a legal person can be held liable for the acts and omissions of the natural persons it employs and, in some legal systems, for those of other associates and business partners.