What legal grounds does MACC cite for restraining these offshore assets?

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MACC Cites Anti-Money Laundering Act for Offshore Asset Restraint

The Malaysian Anti-Corruption Commission (MACC) is seeking to restrain Toh Puan Na’imah Abdul Khalid from managing offshore assets valued at US$157.5 million and £85 million located in Jersey. This application is grounded in allegations that these assets were acquired by Na’imah or associated individuals in Malaysia and were not declared to the Inland Revenue Board (IRB). The MACC's application is specifically made under Section 53 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLATFPUAA 2001).
Legal Basis for Restraint Application

The application to prohibit Na’imah, or any parties linked to her, from dealing with the substantial offshore assets was formally submitted on June 25 of the previous year. This action stems from investigations conducted under both Section 113 of the Income Tax Act and Section 4(1) of the AMLATFPUAA 2001. The core of the MACC's claim is that these undeclared assets, managed offshore, are potentially proceeds of unlawful activities or have not met tax declaration requirements.
Offshore Asset Valuation and Location

The assets in question, which the MACC aims to restrain, are situated in Jersey, a British Crown territory known for its offshore financial services. The total value cited for these holdings is significant, comprising US$157.5 million and £85 million. This specific application represents a continuation of MACC's efforts to scrutinise and potentially reclaim assets believed to be linked to undeclared wealth.
Previous Related Applications

This application to restrain assets in Jersey follows two earlier, separate proceedings initiated by the prosecution concerning overseas assets linked to the family of the late Tun Daim Zainuddin. One prior application sought to prevent Na’imah and others from managing assets in the United Kingdom and Singapore, including investment funds worth GBP21 million and USD99 million held in Singapore, though this was ultimately dismissed by the High Court. Additionally, a separate case involving The Ilham Foundation is proceeding, with a decision pending on Na’imah’s application to set aside MACC’s bid to freeze London properties valued at GBP132 million.

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What legal grounds does MACC cite for restraining these offshore assets?

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