Monash University Malaysia, in collaboration with the National University of Malaysia (UKM), is spearheading a project to modernize Malaysia's Contract Act 1950 (Act 136). A committee led by Justice Datuk Vazeer Alam Mydin Meera aims to address outdated definitions, tackle complexities of modern transactions, and ensure the legal framework aligns with the digital age. The university's Centre for Commercial Law and Regulatory Studies – Malaysia Hub (CLARS-MH) is coordinating the review process, leveraging its expertise in commercial law and commitment to strengthening Malaysia's legal and commercial frameworks.
- Monash University Malaysia is playing a pivotal role in reforming Malaysia’s contract law through its newly established Centre for Commercial Law and Regulatory Studies – Malaysia Hub , School of Business. The initiative, spearheaded by Monash University Malaysia in collaboration with the National University of Malaysia , aims to modernise the Contract Act 1950 and ensure that Malaysia’s legal framework evolves to meet the demands of the digital age.
Monash University Malaysia’s role in this reform initiative is underscored by its expertise in commercial law. The university’s Centre for Commercial Law and Regulatory Studies – Malaysia Hub was appointed by the Prime Minister’s Department’s Legal Affairs Division to coordinate the review process. Monash’s involvement is a direct result of its strong academic reputation in the field and its commitment to strengthening Malaysia’s legal and commercial frameworks.
The committee’s work will be carried out in three phases, culminating in a comprehensive report on the need to update Act 136. Among the key aspects of the review is the creation of eight specialised working groups that will delve into specific areas of contract law, including contract illegality, unfair contract terms, and the integration of new legal concepts, such as cyber law and artificial intelligence.
CONTRACT LAW LEGAL REFORM MODERNIZATION DIGITAL AGE COMMERCIAL LAW
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