The UK Bribery Act Advice, 2010 has another victim and this time it’s Macmillan Publishers. The Serious Fraud Office after inquiry found that the company made a bribery to secure a deal to print textbooks in South Sudan. On the basis of this finding the High Court ordered the company to pay £11.3m for this unlawful act.
The company Macmillan on the other hand has said that they regret this happened. The publishing company now faces a 6-year ban and will not be allowed to bid any contracts financed by the World Bank.
The UK Bribery Act is said to be the strictest of the law replacing the old Corrupt Practices Act 1889, and the Prevention of Corruption Act 1906 and Prevention of Corruption Act 1916. This and now the companies have to be careful when they do business in and out of the UK. To make it look simple, UK government has come out with guide 'Adequate Procedures' that highlights the issues which individuals and companies may feel complicated. The section 9 of the Act contains an explanation of government policy on the functioning of the offense and failure on the part of companies to prevent corruption at home or abroad.
The company Macmillan on the other hand has said that they regret this happened. The publishing company now faces a 6-year ban and will not be allowed to bid any contracts financed by the World Bank.
The UK Bribery Act is said to be the strictest of the law replacing the old Corrupt Practices Act 1889, and the Prevention of Corruption Act 1906 and Prevention of Corruption Act 1916. This and now the companies have to be careful when they do business in and out of the UK. To make it look simple, UK government has come out with guide 'Adequate Procedures' that highlights the issues which individuals and companies may feel complicated. The section 9 of the Act contains an explanation of government policy on the functioning of the offense and failure on the part of companies to prevent corruption at home or abroad.
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