Bribery Act 2010 - implementation date announced
01 August 2010Corporate Newsletter
An article in the August 2010 issue of the Hogan Lovells Corporate Newsletter.
Following our article in the June 2010 issue of the Corporate Newsletter on the Bribery Act 2010, which received Royal Assent on 8 June, we now have more information on when the required consultation exercise will take place and when the Act will be implemented.
The Act is designed to ensure that the UK is at the forefront of the battle against bribery. One of the most significant new offences the Act introduces is a corporate offence of failure to prevent bribery by persons working on behalf of a business. A business can avoid prosecution if it can show it had reasonable procedures in place to prevent bribery. It was accepted by the government at the time the bill passed through Parliament that guidance was needed as to what constituted adequate procedures. It was announced on 20 July that a short consultation exercise will be launched in September on the guidance about procedures commercial organisations can put in place to prevent bribery on their behalf. The results of the consultation will be published early in 2011 to allow businesses a period of familiarisation before the Act comes into force in April 2011.
View the August 2010 issue of the Hogan Lovells Corporate Newsletter here.