BRIBERY Most developed countries will have their own laws and penalties in relation to dealing with bribery and corruption. The UK Bribery Act 2010 (the Act) came into force on the 1st July 2011. With the potential to affect various industry professionals from builders to brokers, the key points to highlight are: What is bribery? • Defined as a financial or other advantage offered, promised, or given to another party to induce them to perform a function or activity improperly, or to reward them for doing so. This can include gifts, corporate hospitality and client entertainment Who is it applicable to? • Applies to individuals closely associated with the UK such as ordinary residents, citizens, all businesses operating in the UK for acts contrary to the Act carried out by them or their associated entities (subsidiaries, agents, employees) and all UK registered commercial organisations and partnerships for their actions or the actions of their associated entities Where is it applicable? • The Act applies to activities contrary to the Act carried out anywhere in the world What activities are contrary to the Act? • To make or receive a bribe which applies to both bribery of public officials and to bribery of any other person who is not a public official. For example, paying a harbour official to get a better mooring slot • Any type of facilitation payment, which is payment made to a foreign official to influence the timing of a public function. For example, payment to obtain a permit or licence quicker On summary conviction, up to 12 months imprisonment and a GBP 5,000 fine. On indictment, unlimited fines and up to ten years in prison. For example, in a recent case, a company was fined GBP 2.2 million for corrupt payments to foreign officials to secure contracts abroad.
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