This paper aims to evaluate the legal implications of the private lease scheme (PLS) for a property sale by the developers. It mainly relies on statutes and court cases as its primary sources of information. PLS is selling a lease to purchasers by the developers. If purchasers were misled to believe a property is purchased and not the purchase of the lease, it is considered misrepresentation. An amendment to the law is timely to cater for a scheme that may address a different legal status of the purchaser. Australia introduced a certificate of lease to enhance the security of tenure. Keywords:: Private Lease Scheme; Developer; Cetificate of lease; Misrepresentation. eISSN: 2398-4287© 2021. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians/Africans/Arabians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia. DOI: https://doi.org/10.21834/ebpj.v6i17.2867
The company law landscape in Malaysia has witnessed a significant change in its insolvency law with the adoption of two new corporate rescue mechanisms, the corporate voluntary arrangement and judicial management under the Companies Act 2016 (CA 2016), which has repealed the Companies Act 1965 (CA 1965). Previously, the insolvency laws under the CA 1965 were based on the traditional pro-creditor laws of winding up and receivership, which embodied the liquidation culture. This article examines the transition of the insolvency laws in Malaysia from a liquidation culture under the CA 1965 to a corporate rescue culture under the CA 2016. It also reviews the necessary changes to the pro-creditor laws, which are preserved under the CA 2016 in order to accommodate the pro-debtor laws with the introduction of the corporate rescue mechanisms, which came into force on March 1, 2018.Through comparative and critical analysis of similar laws in the United Kingdom and Singapore, this article argues that while the corporate rescue mechanisms are regarded as pro-debtor however the review reveals that the position of secured creditors are impeding its application and reforms ought to be considered.
Purpose In Malaysia, Get-Rich-Quick scheme (GRQS) is one of the financial fraud activities prohibited under Malaysian law. The common facet of such schemes involves plans that promise unrealistic rates of returns, and this new scheme continues to proliferate every year as the list of illegal investment companies and websites are growing. Indeed, GRQS will remain proliferating as long as there are people who are easily lured by the promise that wealth can be generated with little skill, effort or time. This paper aims to explain the phenomenon of GRQS in light of the existing laws in Malaysia. This paper also highlights the current development of Australian law pertaining to GRQS for comparative purpose. Design/methodology/approach This paper mainly relies on statutes as its primary sources of information. As such, this paper analyses the scope and provisions of the relevant laws that regulate GRQS and compare the existing GRQS provisions that are equivalent with Australian law. Findings Malaysia has comprehensive laws to combat GRQS activities. However, these laws are far from perfection, and only with immediate amendments, GRQS problems can be resolved more effectively. One of the weaknesses of current Malaysian laws to tackle GRQS is the lack of more stringent punishment against the operators of GRQS as well as the participants of the scheme. A comparison with equivalent GRQS law in Australia demonstrates that Australian laws provide a wide range of punishment to the operators and prohibits participation in GRQS. More importantly, Australia regards the offense as a strict liability offense where the mens rea or guilty mind of the perpetrators is exempted. Indeed, numerous proceedings have been instituted in the Australian Court against the operators and participants of GRQS. Originality/value This paper analyses the scope of relevant laws in Malaysia to combat GRQS and examines the strengths and weaknesses of these laws. This paper also compares Malaysian law with equivalent GRQS-related laws available in Australia. This paper further suggests that Malaysia should regulate sterner punishment for operators and participants of the scheme and that the offense is categorized under a strict liability offense where the mens rea or guilty mind of the offender is exempted.
The main features incorporated in the Schemes of Arrangement (SOA) in Malaysia under the Companies Act 2016 were designed over more than a century ago. For the first time, the company law framework has embraced corporate rescue laws with the introduction of two tailor-made corporate rescue mechanisms, Corporate Voluntary Arrangement and Judicial Management. This paper argues that the SOA, notwithstanding the presence of the corporate rescue mechanisms, may still be employed to achieve the objective of advancing corporate rescue for financially distressed private companies in Malaysia.
Surveys showed that workers in Malaysia are at high risk of health problems including mental health problems that stemmed from the rising stress level at work. Despite having employees’ safety, health, and welfare being codified, depression will be a major mental health illness among Malaysian by 2020. The Occupational Safety and Health Act 1994 (OSHA 1994) that caters to legislative framework in terms of securing safety, health, and welfare among Malaysian workforces has no provisions to provide a supportive environment for mental health wellbeing at the workplace as well as support for employees with a mental health problem. Furthermore, OSHA 1994 is self-regulated, causing fewer employers to develop OSH codes of practice and guidelines. This is among the weaknesses of OSHA 1994. This paper aims to examine the existing law and policy in Malaysia on mental health at the workplace. It also aims to compare the policy and legal framework in developed commonwealth countries such as the UK. This paper applies qualitative and comparative methods, consisting of a doctrinal legal research approach to understand the principles of law and policies dealing with mental health. A comparative method is employed in order to compare the policies and legal frameworks of mental health wellbeing in developed countries such as the UK. The comparative approach involves an examination of the similarities and dissimilarities between situations within the same legal system. The paper concludes that in order to support mental health and wellbeing at the workplace, a comprehensive legal framework and effective policy are needed especially for Malaysia. Compared with the UK, Malaysia is still lagged behind and has so much to learn from UK’s experiences to tackle issues on mental health.
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