Upcoming Events :
Seminar: Outsourcing and Contract Procurement
Tue 28 Feb 2012
Minerva House, 5 Montague Close, London, SE1 9BB
Bribery Bill going through parliament
Fri 05 Mar 2010
Legislation which hands more power to the Serious Fraud Office when dealing with bribery is currently going through Parliament.
The government's Bribery Bill has been drawn up after former Lord Chancellor Lord Falconer said the existing law was toothless.
Both sides of the house are in favour of the legislation, which means it could receive Royal Assent before the upcoming general election.
If the bill does become law, companies will be required to prove they have policies in place to stop corruption from occurring.
It would also stop organisations from using cash or gifts to win contracts.
The Bribery Bill has been welcomed by Jonathan Djanogly MP, the shadow solicitor general, who said he shares Lord Falconer's desire to see it in place by the time of the election.
However, he warned that the resulting rush to get the bill through could lead to it being less effective than he would have wished.
Writing in the Financial Times, Mr Djanogly said the government did not give the joint committee that examined the bill enough time to study its practical application.
Richard Tinham, a partner at Winckworth Sherwood Solicitors, commented: "Although the new legislation is intended to clarify the law, it remains to be seen whether this will be true in practice.
"As with any law affecting the behaviour of corporate entities its effectiveness will depend, in part, on the willingness with which it is embraced and the time and money employers invest in suitable policies and training to ensure all employees are fully aware of its significance."
