The Bribery Act Policy UK 2010 will finally come into force on 1 July 2011. The Act establishes strict corporate rule and liability offense to prevent bribery. The potential defense available for affected companies is to demonstrate that they had in place appropriate procedures to prevent bribery, by employees, agent or anybody working on their behalf.
The new strict liability offence can potentially hold any company punishable that does business in the UK if found to have indulged in any malpractices. UK companies should also understand that they are at risk while having operation worldwide and if they don’t have a system in place to check bribery by their representatives. As said the only defense for the company if found guilty is to establish that there are adequate procedures to prevent corruption in place.
It is likewise best to keep in mind that the Bribery Act is quite broad, and in several respects much broader than the US Foreign Corrupt Practices Act.
The new strict liability offence can potentially hold any company punishable that does business in the UK if found to have indulged in any malpractices. UK companies should also understand that they are at risk while having operation worldwide and if they don’t have a system in place to check bribery by their representatives. As said the only defense for the company if found guilty is to establish that there are adequate procedures to prevent corruption in place.
It is likewise best to keep in mind that the Bribery Act is quite broad, and in several respects much broader than the US Foreign Corrupt Practices Act.
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