Stay up to date with legal developments in Malaysia.
Amendment to Insolvency Act 1967 to Mitigate Financial Ramifications of COVID-19 and Provide Individuals with Additional Protection From Bankruptcy
On 25 August 2020, the Insolvency (Amendment) Bill 2020 (“Insolvency Bill”) was passed with a simple voice majority in the Dewan Rakyat. It appears that the Insolvency Bill is intended to mitigate the financial ramifications of the unprecedented COVID-19 pandemic and to provide individuals with additional protection from the threat of bankruptcy.
This Update provides in a nutshell the key changes introduced by the Insolvency Bill.
The Revised Employees’ Minimum Standards of Housing, Accommodations and Amenities Act 1990 to Expand Coverage to All Employees and to Impose Other Additional Requirements on Employers & Centralised Accommodation Providers
Until recently, employers were only required to comply with minimum standards of accommodation in relation to employees employed to work on estates. However, the Workers’ Minimum Standards of Housing and Amenities (Amendment) Act 2019 ("Amendment Act") that came into force on 1 June 2020 has expanded the coverage of the Employees’ Minimum Standards of Housing, Accommodations and Amenities Act 1990 ("Act") to include all other employees in Peninsular Malaysia and the Federal Territory of Labuan.
In this Update, we examine the changes and the additional requirements that have been implemented by the Amendment Act. Employers are to take note of the following key changes that will be enforced by the Ministry of Human Resources from 1 September 2020.
On 12 August 2020, the Temporary Measures for Reducing the Impact of Coronavirus Disease 2019 (COVID-19) Bill 2020 ("COVID-19 Bill"), which aims to provide temporary relief to reduce the impact of the COVID-19 pandemic and the effects of the Movement Control Order (“MCO”), was tabled for first reading in the Dewan Rakyat. The COVID-19 Bill has also been tabled for second reading in the Dewan Rakyat on 18 August 2020.
In a nutshell, Part II of the COVID-19 Bill provides temporary relief measures in relation to any inability to perform certain contractual obligations, while Parts III to XVII of the COVID-19 Bill provide for modifications and amendments to certain Acts and Ordinances which are transient in nature.
In this Update, we examine and summarise some of the key temporary reliefs proposed under the COVID-19 Bill and the effective period for such reliefs.