Bribery Bill Passed
The Bribery Bill was included in the ‘wash up’ ahead of the May election, and on Wednesday was passed by the House of Commons. There were concerns that the string of proposed amendments from the Tory party would dilute the Bill, under pressure from the CBI, the main employers group. However, these were largely not moved, although an amendment to clarify the power to institute proceedings was agreed.
The bill is expected to receive Royal Assent by Monday 12th April, following seven years of drafts and redrafts.
The main provisions were passed through unchanged, including the corporate offence of failing to prevent bribery. The Conservatives’ challenges continue, with an insistence on further consultation with the business community and consideration of a Government advisory service to give guidance on the new law’s requirements. Should The Conservatives win the upcoming election, business may call for these measures, and for delayed implementation of some areas of the legislation, such as the corporate offence provision.
The new law makes businesses’ internal anticorruption procedures and policies more vital than ever. The race is on to ensure they are sufficient to comply with the impending legislation, with failure to do so running the risk of exposing the board to the consequences.
i2a Consulting can help your business clarify not only that the correct policies and systems are in place, but ensure that they are truly embedded throughout your organisation. For more information about how we achieve this, see the compliance section of our website or get in touch at email@example.com.
This blog was written by Naomi Honey