the wood and wood products industry
Bribery Act
The Bribery Bill received Royal Assent on 8 April 2010, becoming the Bribery Act 2010, and will come into force on 1 July 2011. When it is brought into force, the Act will repeal and replace England's old, much-criticised, laws on bribery with a new comprehensive anti-bribery code.
The Serious Fraud Office will enforce the Act. This is arguably the toughest piece of anti bribery legislation in the world and covers everything from business gifts to overseas bribes. It also covers things you may know nothing about but done in your name. You can go to prison if you get it wrong.
The penalties for a breach of the Act are severe and the timber trade and companies within it are exposed to risk. Our solicitors, BPE, have prepared some specific guidance for TTF members to supplement the Government’s official guidance. They have also prepared a template anti-bribery policy which you can adapt and use within your own business. Both the guidance and template can be downloaded by clicking on the links below. Remember to have your user name and password to access the documents.
Guidance on the Bribery Act 2010
Bribery Act Policy Template for TTF Members
BS 10500 Specification for an anti-bribery management system (ABMS)
The objective of this British Standard is to help an organization to implement an effective antibribery management system and thereby comply with relevant legislation and good practice. TTF Members can download a draft copy of this standard by clicking here.
