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Rubber Stamp Manufacturers Guild
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BOSS/BPIF advise that UK businesses get ready for the Bribery Bill which received Second Reading in House of Commons
The BOSS partner, BPIF announced on the 4th March that the Bribery Bill has received a second reading in the House of Commons the previous day.The purpose of the Bribery Bill is to provide a modern and comprehensive scheme of bribery offences to equip prosecutors and courts to deal effectively with bribery in the UK and abroad.Key areas
- replaces old and fragmented legislation with a modern and consolidated bribery law, based on the recommendations of the Law Commission
- creates offences of offering, promising or giving of a bribe and requesting, agreeing to receive or accepting of a bribe either in the UK or abroad, in the public or private sectors
- creates a discrete offence of bribery of a foreign public official in order to obtain or retain business
- creates a new offence in relation to commercial organisations which fail to prevent a bribe being paid by those who perform services for or on behalf of the organisation. It will, however, be a defence if an organisation has adequate procedures in place to prevent bribery
Nicola Langley, Commercial Solicitor at the BPIF commented, " Directors of UK businesses should be aware that these new offences could lead to substantial fines, and lengthy prison sentences."
The BPIF recommends that businesses review their procedures now in preparation for the new legal requirements as the Bill is thought likely to receive Royal Assent before the next election is called.
Businesses will be required to have adequate procedures in place to prevent bribery and corruption. These are likely to include:
- having a clear anti-bribery policy
- staff training on ethical business practices from board level down
- close scrutiny of purchasing decisions
- clear rules on corporate entertainment and gifts
