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Temporary Measures for Government Financing (Coronavirus Disease 2019 (COVID-19)) Act 2020 is Malaysia Act, cited as Act 830 2019, currently marked in force and first recorded in 2019.
GOVERNMENT FINANCING
(CORONAVIRUS DISEASE 2019
As at 1 December 2021
2
FINANCING (CORONAVIRUS DISEASE 2019 (COVID-19))
ACT 2020
Date of Royal Assent
… … … …
22 October 2020
Date of publication in the
Gazette
… … … …
26 October 2020
Latest amendment made by
Act A1635 which came into operation on
… … … …
18 November 2021
Act 830
Opening note
This Act may be cited as the Temporary Measures for
Government Financing (Coronavirus Disease 2019 (COVID-19))
Act 2020.
Note—see subsection 1(2)
Note—see subsection 3(2)
6 Laws of Malaysia ACT 830
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.
Interpretation
In this Act, “Minister” means the Minister charged with the responsibility for finance.
Increase of ceiling amount of sums raised and moneys received
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-five per centum of the Gross
Domestic Product of Malaysia, when calculated together.
Subsection (1) shall have effect for the period from the date this Act is published in the Gazzette 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.
For the purposes of this section, “Gross Domestic Product of
Malaysia” means the latest Gross Domestic Product of Malaysia confirmed by the Minister.
Establishment of COVID-19 Fund
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].
Temporary Measures for Government Financing
(Coronavirus Disease 2019 (COVID-19))
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.
Application of COVID-19 Fund
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).
Notwithstanding subsection (1), the Minister may, if he thinks necessary
limit or suspend the amount to be applied and appropriated for the purposes of any programme; or
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.
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.
Sums paid, applied and appropriated from 27 February 2020 until date of publication of Act deemed valid
Any sum raised under subsection 3(1) of the Loan (Local) Act 1959 and money received under subsection 3(1) of the Government
8 Laws of Malaysia ACT 830
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.
Yearly statements of COVID-19 Fund
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.
Dealings with COVID-19 Fund upon the expiry of Act
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.
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.
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.
Temporary Measures for Government Financing
(Coronavirus Disease 2019 (COVID-19))
[Subsection 5(1)]
PROGRAMMES UNDER ECONOMIC STIMULUS PACKAGES
AND ECONOMIC RECOVERY PLANS
(1)
Programmes
(2)
Amount
(RM)
1.
Wage subsidy, job retention and workers’ hiring incentive, and training assistance programmes
31,000,000,000
2.
Bantuan Prihatin Nasional
41,000,000,000
3.
Small scale projects
6,000,000,000
4.
Skill and upskilling programmes
2,000,000,000
5.
PENJANA SME financing
2,000,000,000
6.
PRIHATIN SME grant
6,000,000,000
7.
Micro credit loans
2,000,000,000
8.
Allocation for COVID-19 related expenses
9,000,000,000
9.
Food security fund
1,000,000,000
10. COVID-19 special allowance for frontliners
600,000,000
11.
PENJANA Nasional 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 institutions
300,000,000
16.
Bumiputera Relief Financing
200,000,000
10 Laws of Malaysia ACT 830
(1)
Programmes
(2)
Amount
(RM)
17.
MY30 public transport subsidy
200,000,000
18.
Special assistance to taxi drivers, school bus drivers, tour bus drivers, tour guides, trishaw operators and e-hailing drivers
160,000,000 19.
Social assistance support to vulnerable groups
6,010,000,000
20.
Smart automation grant
100,000,000
21.
Soft loan under MyCreative Venture
100,000,000
22.
Social protection and training for gig economy workers
75,000,000
23.
E-Dagang campaign for SME and micro enterprises
70,000,000
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-government organizations
25,000,000
29.
Digitalization of government service delivery
20,000,000
30.
Digitalization marketing and promotion fund under the Cultural Economy Development
Agency (CENDANA)
10,000,000
31.
MyAssist SME One Stop Centre
5,000,000
TOTAL
110,000,000,000
11
Act 830
LIST OF AMENDMENTS
Amending law
Short title
In force from
Act A1627
Temporary Measures for Government
Financing (Coronavirus Disease 2019
(COVID-19)) (Amendment) Act 2020
01-01-2021
Act A1635
Temporary Measures for Government
Financing (Coronavirus Disease 2019
(COVID-19)) (Amendment) Act 2021
18-11-2021
12
Act 830
LIST OF SECTIONS AMENDED
Section
Amending authority
In force from
3
Act A1635 18-11-2021
Act A1627
Act A1635 01-01-2021 18-11-2021
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