Presentation on theme: "4th Meeting September 23rd 2010 Waterfront Bar Bistro, Ipswich The UK Bribery Act and the considerations for UK exporters – Birketts llp Special Guest."— Presentation transcript:
4th Meeting September 23rd 2010 Waterfront Bar Bistro, Ipswich The UK Bribery Act and the considerations for UK exporters – Birketts llp Special Guest appearance from Mr Damion Potter, Head of Commercial Section, British Embassy - Moscow
Agenda 23 rd September 2010 5pm – 5:25pm Networking 5:25 – 5:30pm Welcome by Jim Fanshawe 5:30 – 5:45pm“The Bribery Act 2010” – Leah Finnegan, Birketts llp 5:45 – 6:00pm“Russia – a modern view” – Damion Potter, British Embassy - Moscow 6:00 – 6:10pmAny Questions? 6:10 – 6:15pm SITG Update – Jim Fanshawe 6:15 – 7pm Buffet & Networking
WHY NEW LEGISLATION? Outdated and confusing legislation Difficult to prosecute Pressure from Organisation for Economic Co-operation and Development (OECD) to update laws
KEY PROVISIONS Comes into force in April 2011 The Act applies to: –all UK companies, partnerships, citizens or residents –all foreign companies operating in the UK –non UK persons where any part of the offence takes part in the UK
OFFENCES 1.Making a bribe – the ‘active offence’ the promise or giving of an advantage with the intention of inducing or rewarding the improper performance of a relevant function or activity. 2.Receiving a bribe – the ‘passive offence’ The receipt or acceptance of an advantage for the improper performance of a relevant function or activity ‘Improper performance’ breach expectation of impartiality or good faith. Test is whether act breaches what would be expected by a reasonable person in the UK.
OFFENCES (cont.) 3. Bribing a Foreign Public Official 4. ‘Corporate Offence’ of failing to prevent bribery A company can be held liable for the act of ‘ associated persons’ committing an act of bribery whilst acting on behalf of a company.
PENALTIES Fines – unlimited Prison Debarment from public sector contracts
AREAS OF RISK? Use of agents Facility payments Corporate hospitality
GOVERNMENT GUIDANCE Sets out key principles for preventing bribery: Risk assessment Top level commitment Due diligence Clear, practical and accessible policies and procedures Effective implementation Monitoring and review
NEXT STEPS Review or implement policies and procedures Board responsibility Employees Assess suppliers and sub-contractors
Russia – a modern view Mr. Damion Potter Head of Commercial Section British Embassy - Moscow
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