February 04, 2011
The Bribery Act 2010, set to come into force this April, will be reviewed with a view to possible reforms, the Government has confirmed this week.
As part of the Growth Review, the Ministry of Justice which will look at the how the Government can create the best conditions for private sector growth amidst concerns that the limitations introduced by Bribery Act are too stringent.
Under the Act, several new offences, including a corporate offence for failing to prevent bribery by people working on behalf of a business, were originally set to be introduced alongside a rise in the maximum penalty for individuals found guilty of bribery from seven to 10 years' imprisonment.
But according to a Ministry of Justice statement this week: "The Growth Review is ensuring that every government department is doing everything it can to identify the obstacles for investment and help the country's economy to grow.
"The Government is clear that corruption should not be considered an acceptable way to win business and the UK stands alongside the Organisation for Economic Co-operation and Development countries, all of whom have criminalised foreign bribery."
The spokesman added that the Ministry of Justice will be publishing guidance to help commercial organisations put practical measures in place to prevent bribery.
But regardless of potential changes, the Bribery Act looks set to greatly alter the corporate landscape and all firms should seek advice to avoid heightened penalties and dangers accompanying its introduction.
