1. Stability Reliability

2. UK BRIBARY ACT 2010 Surveyor’s Day 24th October 2014

3. UK Bribary Act  The Bribery Act 2010 (c.23) is an Act of the Parliament of the United Kingdom that covers the criminal law relating to bribery.  The Act came into force on 1 July 2011.  The Act regulate all the crimes of bribery, being bribed, the bribery of foreign public officials, and the failure of a commercial organisation to prevent bribery on its behalf.  The penalties for committing a crime under the Act are a maximum of 10 years' imprisonment, along with an unlimited fine, and the potential for the confiscation of property under the Proceeds of Crime Act 2002, as well as the disqualification of directors under the Company Directors Disqualification Act 1986.  The Act has a near-universal jurisdiction, allowing for the prosecution of an individual or company with links to the United Kingdom, regardless of where the crime occurred.  Described as "the toughest anti-corruption legislation in the world", concerns have been raised that the Act's provisions criminalise behaviour that is acceptable in the global market, and puts British business at a competitive disadvantage.

4. Extra-territorial effect  Although it is a foreign statute it is extra-territorial in effect. It extends to  (i) companies that have links to the UK even although they may not carry on business there;  (ii) offences committed within and outside the UK by such companies and  (iii) offences committed by persons “associated with” a company who enter into corrupt practices on its behalf.  An associated person is someone who, in whatever capacity, performs services for and on behalf of a company, for example correspondents and other service providers.

5. What is an offence  The principal offences under the Act are:  The offering, promising or giving of a bribe (active bribery )  Requesting, agreeing to receive or acceptance of a bribe( passive bribery);  Bribing a foreign official in order to obtain or retain business or an advantage in the conduct of business;  failure by commercial organizations to prevent bribery committed on their behalf.

6. Consequences  If you have sufficient connection with the UK, and engage in bribery or fail to prevent bribery being committed on your behalf, you (the individual, the company and your directors) may be criminally charged under the Act.  Even if you have no such connection with the UK, if you are involved in the giving of a bribe, you could expose the member or underwriter to conviction under the Act.

7. Examples  Paying witnesses more than reasonable expenses incurred  Facilitation payments, otherwise known as “grease payments” can be summarised as small bribes paid to facilitate routine Government action.  Paying a judge to obtain a favorable judgement  Disproportionate hospitality. The Act does not make corporate hospitality illegal, but the level must be within reasonable limits.

8. Requirements  Adequate procedures in place to prevent bribery.  Instructions to Surveyor to abstain from making an offence under the Act, including preventing that any sub contractors make an offence.  Zero-tolerance to bribery in all its forms