The Bribery Bill and how it will impact construction companiesJanuary 2010
The construction industry received a sharp reminder of how costly corrupt practices can be when 103 construction firms were fined a total of £129.5m by the OFT in September 2009 for “illegal anti-competitive bid rigging activities”. However, the publication of the Bribery Bill demonstrates that construction firms will need to be even more vigilant in ensuring that they conduct their businesses in accordance with the law. The Bill has sufficient teeth to tackle corruption committed by UK companies both at home and abroad. It also requires new disciplines predominantly for those dependent on winning public sector work to have internal procedures that prevent bribery occurring.
In light of the House of Lords second reading of the Bill on 9 December 2009 this article looks at how companies in the UK will be affected by the Bill, and the steps that can be taken to prepare for when it becomes law.
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