(1) This Act may be cited as the Temporary Measures for Government Financing (Coronavirus Disease 2019 (COVID-19)) Act 2020.
(2) Except for section 3, this Act is deemed to have come into operation on 27 February 2020 and shall continue to remain in operation until 31 December 2022.
Act 830
Temporary Measures for Government Financing (Coronavirus Disease 2019 (Covid-19)) Act 2020
Akta langkah-langkah sementara bagi pembiayaan kerajaan (penyakit koronavirus 2019 (covid-19)) 2020
An Act to provide for temporary measures relating to government financing to reduce the impact of Coronavirus Disease 2019 (COVID-19) by increasing the ceiling amount for the total amount of the sums that may be raised under the Loan (Local) Act 1959 [Act 637] and the total amount of moneys that may be received under the Government Funding Act 1983 [Act 275], to establish a COVID-19 Fund, to allow the sums raised under the Loan (Local) Act 1959 and the moneys received under the Government Funding Act 1983 to be paid into the COVID-19 Fund, to allow the moneys in the COVID-19 Fund to be applied and appropriated for the purposes of the programmes under the economic stimulus packages and economic recovery plans, and to provide for related matters.
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In this Act, “Minister” means the Minister charged with the responsibility for finance.
(1) The ceiling amount for the total amount of the sums that may be raised under subsection 3(1) of the Loan (Local) Act 1959 and the total amount of moneys that may be received under subsection 3(1) of the Government Funding Act 1983 specified in the Loan (Local) (Statutory Ceiling for Borrowing) and Government Funding (Statutory Ceiling of Moneys Received) Order 2009 [P.U. (A) 241/2009] at the rate of fifty-five per centum of the Gross Domestic Product of Malaysia, is increased up to sixty per centum of the Gross Domestic Product of Malaysia, when calculated together.
(2) Subsection (1) shall have effect for the period from the date this Act is published in the Gazette until 31 December 2022 and during such period the Loan (Local) (Statutory Ceiling for Borrowing) and Government Funding (Statutory Ceiling of Moneys Received) Order 2009 is suspended.
(3) For the purposes of this section, “Gross Domestic Product of Malaysia” means the latest Gross Domestic Product of Malaysia confirmed by the Minister.
(1) A fund to be known as the COVID-19 Fund is established and shall be specified in and incorporated into the Second Schedule to the Financial Procedure Act 1957 [Act 61].
(2) Notwithstanding subsection 5(1) of the Loan (Local) Act 1959 and section 4 of the Government Funding Act 1983, any sum raised under subsection 3(1) of the Loan (Local) Act 1959 and any money received under subsection 3(1) of the Government Funding Act 1983 may be paid into the COVID-19 Fund for the purposes of its application under section 5.
(1) The moneys in the COVID-19 Fund shall be applied and appropriated for the purposes of the programmes under the economic stimulus packages and economic recovery plans specified in column (1) of the Schedule in the amount specified in column (2).
(2) Notwithstanding subsection (1), the Minister may, if he thinks necessary—
(a) limit or suspend the amount to be applied and appropriated for the purposes of any programme; or
(b) direct any sum appropriated for a programme to be appropriated in aid of any other programme for which the sum appropriated may be deficient a further amount out of any surplus from the first mentioned programme.
(3) The Minister shall ensure that the application and appropriation of the moneys in the COVID-19 Fund are utilised only for the programmes specified in column (1) of the Schedule, taking into account anything done under subsection (2), and does not exceed the total amount allocated for such programmes.
s 6Sums paid, applied and appropriated from 27 February 2020 until date of publication of Act deemed validOpen ↗
Any sum raised under subsection 3(1) of the Loan (Local) Act 1959 and money received under subsection 3(1) of the Government Funding Act 1983 which is paid into, applied and appropriated for the purposes of, the COVID-19 Fund, for the period from 27 February 2020 until the date this Act is published in the Gazette, shall be deemed to have been validly paid, applied and appropriated as such.
The Minister shall, as soon as practicable after the end of every financial year, prepare in respect of that financial year a statement of receipts and expenditure of moneys accounted in the COVID-19 Fund as required under paragraph 16(1)(c) of the Financial Procedure Act 1957.
(1) Upon the expiry of this Act, where there is any money payable from the COVID-19 Fund, it shall be paid within six months from the date of expiry of this Act.
(2) Where there is any balance of moneys in the COVID-19 Fund after all the payments are made under subsection (1), notwithstanding subsection 10(3) of the Financial Procedure Act 1957, such balance of moneys shall be paid by the Minister into the Development Fund specified in the Second Schedule to the Financial Procedure Act 1957.
(3) After the balance of moneys in the COVID-19 Fund has been paid in accordance with subsection (2), the COVID-19 Fund shall be deemed dissolved and the Dewan Rakyat may, by a resolution, delete the COVID-19 Fund from the Second Schedule to the Financial Procedure Act 1957.
[Subsection 5(1)]
PROGRAMMES UNDER ECONOMIC STIMULUS PACKAGES AND ECONOMIC RECOVERY PLANS
(1) (2) Programmes Amount
(RM) 1. Wage subsidy, job retention and workers’ hiring 16,800,000,000 incentive, and training assistance programmes 2. Bantuan Prihatin Nasional 11,200,000,000 3. Small scale projects 4,000,000,000 4. Skill and upskilling programmes 2,000,000,000 5. PENJANA SME financing 2,000,000,000 6. PRIHATIN SME grant 1,900,000,000 7. Micro credit loans under Bank Simpanan Nasional 1,000,000,000 and TEKUN Nasional 8. Allocation for the Ministry of Health for 1,000,000,000 COVID-19 related expenses
(1) (2) Programmes Amount
(RM) 9. Food security fund 1,000,000,000
10. COVID-19 special allowance for frontliners 600,000,000
11. PENJANA National Fund 600,000,000
12. ePENJANA 520,000,000
13. Electricity bill discounts 500,000,000
14. Additional RM100 for Bantuan Sara Hidup (BSH) 300,000,000
15. Special assistance to students of higher educational 300,000,000 institutions
16. Bumiputera Relief Financing 200,000,000
17. MY30 public transport subsidy 200,000,000
18. Special assistance to taxi drivers, school bus 160,000,000 drivers, tour bus drivers, tour guides, trishaw operators and e-hailing drivers
19. Social assistance support to vulnerable groups 110,000,000
20. Smart automation grant 100,000,000
21. Soft loan under MyCreative Venture 100,000,000
22. Social protection and training for gig economy 75,000,000 workers
23. E-Dagang campaign for SME and micro 70,000,000 enterprises
24. “Shop Malaysia Online” for online consumption 70,000,000
25. PEKA B40 health care support 50,000,000
26. Grant for child care centres and kindergartens 50,000,000
27. Digital content fund 35,000,000
28. Assistance to non-governmental organizations 25,000,000
29. Digitalization of government service delivery 20,000,000
(1) (2) Programmes Amount
(RM) 30. Digitalization marketing and promotion fund 10,000,000 under the Cultural Economy Development Agency (CENDANA)
31. MyAssist SME One Stop Centre 5,000,000 TOTAL 45,000,000,000
Cite this legislation
- Official citation
- Act 830
- Source
- lom.agc.gov.my
- Data synced
- Licence
- Official text, free to reproduce (Copyright Act 1987 [Act 332] s 3) ↗
Temporary Measures for Government Financing (Coronavirus Disease 2019 (Covid-19)) Act 2020 [Act 830] (Laws of Malaysia, lom.agc.gov.my). Retrieved via LawPlayer, https://lawplayer.com/my/act/act-830
This text is synced from lom.agc.gov.my. In case of any discrepancy, the authoritative text prevails.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).