UK Bribery Act Policy 2010, effective from July 1st 2011 applies to all business establishments in England and Wales or for those companies conducting business in any part in the UK.
The Act intends to consolidate the UK’s Anti Corruption Act and to make it simpler for bribery to be looked into and prosecuted. Also to make a particular offences pertaining to bribing, bribing a public official and being bribed, the Act also makes afresh severe liability offence of failure to forbid bribery.
Retailers in the UK believe that in many countries bribery is regularly described as inevitable and this is now a real challenge for retailers working in those markets. The risks may perhaps be even bigger in countries such as China where it is usual to have contact with government employees, as the test of what comprises a bribe is smaller when dealing with foreign public officials.
Although retail merchant have evoked concerns about the consequence this might have upon their ability to compete with companies who do not fall under this law.
The Act intends to consolidate the UK’s Anti Corruption Act and to make it simpler for bribery to be looked into and prosecuted. Also to make a particular offences pertaining to bribing, bribing a public official and being bribed, the Act also makes afresh severe liability offence of failure to forbid bribery.
Retailers in the UK believe that in many countries bribery is regularly described as inevitable and this is now a real challenge for retailers working in those markets. The risks may perhaps be even bigger in countries such as China where it is usual to have contact with government employees, as the test of what comprises a bribe is smaller when dealing with foreign public officials.
Although retail merchant have evoked concerns about the consequence this might have upon their ability to compete with companies who do not fall under this law.
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