What does Section 92 of Act 613 permit in such cases?

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Section 92 of Act 613 Permits Withdrawal of Charges Following Settlement

Section 92 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (Act 613) permits the Attorney General's Chambers (AGC) to withdraw charges against an individual if a settlement is reached. This provision was invoked in the case of businessman Nicky Liow, where 26 money laundering charges were dropped after he paid a RM10 million compound. The settlement also entailed the forfeiture of a bond and the confiscation of seized assets.
Legal Framework for Charge Withdrawal

The AGC's decision to withdraw the charges against Nicky Liow was made in accordance with the Attorney General's discretionary powers, as outlined in the Federal Constitution. This action followed a detailed review of representation letters submitted by Liow's legal team. The AGC stated that the process was conducted independently, based on evidence from comprehensive investigations, and without external pressure or public sentiment, adhering to existing laws to ensure transparency and justice.
Conditions for Settlement and Compound Payment

In this specific case, the AGC offered a compound of RM10 million to Liow, which he accepted and paid on May 29, 2023. This settlement was a prerequisite for the subsequent withdrawal of the charges. The total sum paid by Liow included the RM10 million compound, the forfeiture of a bond valued at RM647,366, and the confiscation of assets that had been seized during the investigation.
Court Acquittal Post-Settlement

Following the settlement and the AGC's withdrawal of the charges under Section 92 of Act 613, the Shah Alam Sessions Court formally ordered Liow's release and acquittal on all counts on June 15, 2023. The AGC emphasised that Liow was not released without legal action but only after fulfilling all legally stipulated conditions related to the settlement.

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What does Section 92 of Act 613 permit in such cases?

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