The Bribery Act 2010 has been postponed
Delays. We recently told you about the Bribery Act 2010 (yr.11, iss.18, pg.1, see The next step). Originally, it was due to come into force on October 1 2010. However, the government has delayed its implementation date until April 2011. This is partly due to the fact it’s reviewing all laws passed by its predecessor; it wants to see if they benefit companies or restrict them unnecessarily.
No guidance. However, the Act has also been widely criticised as it brings in a number of new criminal offences, particularly where directors are concerned. Furthermore, despite promises to the contrary, the previous administration failed to produce any detailed guidance about it - this clearly needs to be resolved before it comes in.
Tip. The Act may very well be scrapped - we’ll have to wait and see. But, as matters stand, you’ve now got more time to put in place “adequate procedures”; we advised you how to do this in our previous article.
For a link to the previous article, visithttp://companydirector.indicator.co.uk (CD 11.22.09).
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