Highest 10 yrs’ jail, Tk 50 lakh fine for such business without licence
A bill on Multi-Level Marketing (MLM) activities providing tougher punishment against the offenders was passed in Jaya Sangsad on Monday.
Commerce Minister GM Quader moved the bill titled ‘Multi-Level Marketing (MLM) Activities (Control) Bill, 2013’ in Parliament with stringent provisions seeking to control the MLM activities in the country. According to the Bill, the law has a provision of 10 years’ imprisonment and a fine of Tk 50 lakh as the maximum punishment for running such business without any licence.
It also has a provision of maximum two years of imprisonment and a fine of Tk 5 lakh for transferring any licence, totally or partially, without permission of the authorities concerned.
According to the bill, the concerned company will have to face punishment of five years imprisonment and a fine of Tk 5 lakh for marketing substandard goods.
Besides, there are provisions of punishment for violating packaging rules and for charging illogical prices.
Persons already running MLM activities will be required to apply to the government for the issuance of licence within 90 days from September 2, 2013, the date on which the President promulgated an Ordinance to give effect to the law.
Under the purview of the law, the government will also enjoy the power to appoint administrators for an MLM company if it is found guilty of fraud, harassment or of ill-motives.
It also keeps a provision that the government through gazette notification in the future can prohibit the use of certain goods and services in Multi-Level Marketing (MLM) businesses.
The law has been made effective since the President gave his consent to it on September 2 by an Ordinance.
-With The Independent input
