Disciplinary action will be imposed on individuals, companies, consultants or bodies registered with Ministry of Finance if any of the offences as prescribed are committed.
A. Types of offences :
- Violation of terms of the registration by falsifying or altering information / documents, deception to procure the Bumiputera status, allowing registration certificate are to be used by other than designated individuals / companies / consulting firms, fail to comply with the registration requirements, fail to update the company's information / consulting firm or not cooperating with respective authorities on matters regarding registrations with Ministry of Finance (MOF);
- Violating tender / contractual terms with fraudulent information / documents, withdrawing from tender/ quotation processes after the closing of the tender / quotation, rejecting the offer made by Ministry/Agency, collaborating tender/ quotation price with another company / firm, assigning awarded contract to other company / firm, fail to comply with contractual obligations, fail to meet specifications, fail to meet the Terms of Reference / scope, fail to disclose / meet capacity requirements or fail to renew registration with Ministry of Finance; and
- Criminal offences such as bribery, fraud and breach of trust or civil conviction such as Judgment Debtor, Bankruptcy, Receivership or Liquidation orders,
B. Types of disciplinary actions / penalties that can be taken for the above offenses :
- Issuance of Warning letters;
- Cancellation of approved field code;
- Suspension of MOF`s registration for a maximum period up to five (5) years and prohibition from receiving / participating in future tender/ quotation;
- Cancellation of registration for a maximum period of up to five (5) years and removal from the MOF registration record;
- Blacklisting owner and / or board member of company for a maximum period of up to five (5) years; and
- Cancellation of Bumiputera status for a maximum period of up to five (5) years.