Tony Lewis & Charlotte Ovans consider the Bribery Act 2010 & a global approach to anti-corruption
Companies need to pay attention to the Bribery Act 2010 (the Act). The Act is particularly notable as it creates a new strict liability corporate criminal offence of failing to prevent bribery. There is a real danger that under the new legislation a company could unwittingly commit the corporate criminal offence as a result of someone on the ground in another country, over whom it has little control, making an irregular payment.
Recent developments
The Act received Royal Assent earlier this month. The main provisions of the Act are expected to come into force later in the year. The Act replaces antiquated law which was complex, and, until recently, rarely enforced.
The new legislation is significant in a number of respects, not least because it includes a new corporate criminal offence of failing to prevent bribery, wherever the bribery takes place in the world.
In broad terms there are four types of offence in the Act which
