In brief
Malaysia is set to undertake the most significant overhaul of its contract law framework in over 70 years following the release of the Final Report by the Committee for the Review and Reform of Contract Law (CRRCL). The Report recommends targeted reforms to modernise the Contracts Act 1950 while preserving its core structure, addressing developments in digital commerce, AI-assisted contracting and modern commercial practices.
The Final Report has been completed and presented to members of Parliament for review. It is targeted for official tabling in the Dewan Rakyat.
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Ooi Chih-Wen and Raymond Tan, Partners, have contributed to this legal update.
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