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The Bribery Act 2010: Implications for offshore jurisdictions

June 2011 Ben Adamson

The Bribery Act 2010 (“the Act”) comes into force on 1st July 2011. While the Act concerns UK criminal offences for which prosecutions can only be brought in the UK, the Act has implications for international businesses and will impact the offshore world.

Why has it been introduced?

The UK has been criticised for a lack of effective anti corruption laws and the Act is the result. The Act provides a tough new anti corruption code.

What does the Act do?

The Act has three key features. First, it clarifies and places on a statutory footing the common law offences of bribery. Secondly, the Act introduces a number of novel corporate offences. Thirdly, it provides for long arm jurisdiction for offences committed abroad. It is this third, extra territorial, feature which makes the Act particularly relevant to the offshore world.

The UK Government has published Guidance Notes to help companies ensure they are in step with the new requirements (“the Guidance”).

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Ben Adamson
Director

Bermuda   +1 441 298 7824


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