Added burden to the company Bribery Act

THE implementation of the UK Bribery Act legislation is not a smooth transition. While Act received Royal approval on April 8, 2010, it was not effective until July 1 last year after three false starts. He said that while the actions do not take effect in October 2010 or April 2011 as planned, the Ministry of Justice guidance is not given until March 30, 2011. Drafting style guide to follow the style adopted for many of the guidance provided by the government in connection with regulatory issues and very much along the lines of "do not panic, nothing much will change as a result of the Act it ". Basically, the law is part of the codified law reiterating that bribery is illegal. There are some stylish new term as rings now "active bribery" and accepted a bribe to "passive bribery". However, the elements of the failure of a new legal entity to prevent bribery and a new element that has most concerned that businesses have to send huge. As a result of "part seven" new issues such as corporate entertaining, the behavior of the people involved (including agents and employees in other countries) can now get all the action. The Justice Department guidance indicates that all responsible business should have some form of compliance and guidance while the words were meant to reassure, the fact that the user indicates that even micro businesses to train staff orally once or twice a year, meaning that the UK Government wants to attempt to make compliance very seriously. Shows more detailed guidance Ministry of Justice with six basic principles that businesses should follow to ensure compliance. Each principle is given a chapter in a more detailed guidance notes, again demonstrating compliance rate is expected. Citing some guidance, it is clear that all businesses need to be aware of the Act. Small businesses can get away with a verbal briefing to staff but larger multi-national PLC and should be written procedures in place to deal with compliance. A key area for the Olympics and Jubilee Year is due diligence. Businesses are expected to assess the market risk and the type of work. If a lot of business is done through third party agents, particularly overseas, the business is expected to ensure that they are in accordance with the Bribery Act. Several attempts entertaining and hospitality companies in the UK (risk areas within them under the Act) will conduct the sale with ticket agents and third parties. Businesses should therefore ensure that the agent is identified, and that he was familiar with their obligations under the Act. Given the scale of tourism is expected in 2012, it could put another burden on UK businesses as we begin to emerge from the economic slowdown. :: Neil Warwick is a partner at Dickinson Dees, the leading law firms in the region.