KUALA LUMPUR, Oct 17 ― The first draft of a law that seeks to regulate political funding is expected to be completed this week, the Malaysian Institute of Integrity (Integriti) said.

The New Straits Times quoted Integriti, which was appointed by the Cabinet as the secretariat to draft the Political Donations and Expenditure Act (PDEA), as saying that the proposed law would be presented to the Attorney-General’s Chambers.

“The drafting committee met two weeks ago after getting the green light from the Cabinet to proceed. We are putting the finishing touches to the first draft by the end of this week,” Integriti president and CEO Datuk Anis Yusal Yusoff was quoted saying after a roadshow at Universiti Sains Malaysia here yesterday.

“We want to make sure that what we present to the Attorney-General encompasses the 32 recommendations by the National Consultative Committee on Political Financing,” he added.

He reportedly said Integriti has met with all political parties to explain the proposed law.

“They have, in principle, agreed to the Act, although there are some arguments,” Anis Yusal said without elaborating.

The key recommendations for the PDEA reportedly include creating an Office of the Controller that will be overseen by a board comprising non-politicians.

Donations to political parties and individuals are to be deposited into certain bank accounts and recipients are to submit an audited financial statement to the controller before June 30 each year.

The PDEA reportedly does not cap contributions to parties or politicians, but sums above RM3,000, or cumulatively above RM3,000 per annum from the same source, must be declared to the controller.

The proposed law reportedly bans cash donations from foreign sources.

Minister in the Prime Minister’s Department Datuk Paul Low has said that the PDEA would only likely be in place after the 14th general election.

source :   Malay Online