Delayed anti-corruption law
Wednesday, 2nd March 2011
Following lobbying from business organisations the Government has been forced to delay the implementation of the new Bribery Act 2010 which was due to come in to force in April until later in 2011. This delay will be welcomed by many businesses as there has been a lot of concern that the promised formal Government guidance on how a business was to comply with the new legislation had not been published.
The uncertainty that the lack of guidance caused meant that businesses could not be sure that they would not fall foul of the offences created under the new Act.
As yet there is not a date for publication of the guidance and once it is published there will be a three month period before the legislation comes in to force to allow businesses to take the guidance on board and ensure they have adequate steps in place to show they are complying with the requirements of the Bribery Act 2010.
The hot topic of how corporate hospitality will be dealt with under the new legislation still has much speculation surrounding it. The Government has been challenged to clarify on when corporate hospitality will become bribery.
Watch this space as the saying goes so it will not just be the large businesses who have to comply, any size business needs to ensure they understand the new law.
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