In The Bribery Act 2010 and its international impact in China Business Law Journal volume 1 issue 8, we commented on the uncertainty over the international effect of the UK Bribery Act 2010.
There has been controversy regarding the implementation of the act and how it will operate, the cost of compliance, and the impact of the act on UK companies and companies which “carry on business” in the UK, including those from China. The UK government has now published guidance on the act which aims to address some of these concerns. The act will come into effect on 1 July.
Partner
Eversheds
The most controversial aspect of the act is to create criminal liability for businesses when bribes are paid by any “associated person” in order to obtain business or an advantage for the company.
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Mark Yeadon is a partner and Steven Cannon is a senior associate at Eversheds
Hong Kong
21/F Gloucester Tower, The Landmark
15 Queen’s Road Central, Hong Kong
Tel: +852 2186 3200
Fax: +852 2186 3201
E-mail: markyeadon@eversheds.com
Singapore
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Singapore
049246
Tel: +65 6572 5555
Fax: +65 6572 5550
E-mail: stevencannon@eversheds.com
www.eversheds.com
