Malagasy Criminal Business Law is governed by three kind of texts.
First, we can distinguish the ordinary-law offenses (such as theft, fraud, or breach of trust) which are not offenses specific to, but are likely to be involved in, the business world. These offenses are provided by the Malagasy Criminal Code.
Secondly, we can distinguish the texts which aim to fight against phenomena such as corruption or money laundering, such as Law No. 2004-020 of 19 August 2004 on the laundering, detection and confiscation of the proceeds of crime and international cooperation, or Law No. 2004-030 of 9 September 2004 on the fight against corruption.
Finally, we can distinguish all the purely economic rules that are subject to criminal sanctions. These criminal sanctions are not centralized and are scattered across several texts governing each specific area of business law. Among these different texts, can be mentioned (this list not being exhaustive):
(i) In Company Law, Law No. 2003-036 of 30 January 2004 on commercial companies, as amended by Law No. 2008-032 of 17 December 2008, whose Part III describes all the sanctions relating to the violation of the rules governing the formation of companies, companies’ management, changes in public limited companies’ (« sociétés anonymes« ) share capital, control and liquidation of companies, public offerings;
(ii) In Competition Law, Law No. 2005-020 of 27 July 2005 on competition, whose Chapter V provides for criminal sanctions relating to the violation of the Competition Law rules. In this regard, it is interesting to note that the violation of particularly important rules such as those relating to « ententes » or abuses of a dominant position does not seem to be criminally punished;
(iii) In Banking Law, Law No. 95-030 of 22 February 1996 on the activities and supervision of credit institutions, which contains in its Title IV sanctions relating to the violation of the rules relating to the composition of the board of directors of credit institutions or to the banking monopoly;
(iv) In Labour Law, Law No. 2003-044 of 28 July 2004 establishing the Labour Code, which contains in its Title IX the list of the penalties applicable to violations of the rules on general obligations of the employer, obligations relating to the protection of wages and salaries, employment or job applicants, « entraves« , working conditions, hygiene, safety and working environment, discrimination or illegal employment; or
(vi) In Hydrocarbons Law or in Mining Law, Law No. 99-022 of 30 July 1999 on the Mining Code, as amended by Law No. 2005-021 of 27 July 2005, in its Title 9, or Law No. 96-018 of 4 September 1996 relating to the Petroleum Code, in its Title X.
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