Bribery Act 2010 – implementation
The Ministry of Justice has just announced the timescale for bringing the Bribery Act 2010 into force.
A consultation will be launched in September 2010 on the proposed guidance on adequate procedures that commercial organisations would be wise to adopt to prevent bribery, and which will form defences to charges under section 7 of the Act. The guidance will be published early next year to allow organisations time to put procedures in place before the Act commences in April 2011.
Organisations will almost certainly have discretion as to whether to follow the official guidance or develop their own anti-bribery strategy, as it is unlikely to be regulatory or prescriptive. Whilst the adequacy of anti-bribery procedures will vary according to a company’s size, resources and exposure to risk, the guidance is expected to set out board principles of good practice and should provide a useful benchmark to companies in establishing internal policy.
For further information on the Bribery Act 2010, click here.
For further information please contact: Bill Fowler
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