A More Relaxed Bribery Act – But Beware.

Tuesday, 19. July 2011

Hi, Graham Hill here, thank you so much for visiting my blog, I hope you learn a lot and as a result end up driving a great car. In order to do so you can get all the information you need by buying my book, An Insider Guide To Car Finance or use me to finance your next car. Happy driving.

As of the 1st July the Bribery Act came into force. There was a great deal of concern when the terms of the Act were originally announced as it looked as though buying someone a cup of tea and a sandwich could be construed as an act of bribery. However, it seems that common sense may have played a part in the final wording of the Act following consultations. Whilst my trip to Florida to discuss the implications of the EU Consumer Credit Directive (for a week) may be out of the question now (bugger) it seems that new guidance issued with the Act says that the Act is not meant to criminalise bona fide hospitality aimed at enhancing an organisation’s image, make others aware of its products and services or assist in the development of relationships which are integral parts of doing business.

Florida – here I come, game on! Companies are expected to have ‘adequate procedures’ in order to monitor hospitality and ensure that it is proportionate and that it adheres to the 6 main principles laid down in the Act. I won’t detail them as they are easy enough to find on the Interweb!

The bottom line is that you can still invite me out to events like Grand Prix’, Ascot (ladies day preferred), Goodwood, expensive night clubs and trips abroad all of which are of course proportionate to me being a great bloke! Can’t wait for the invitations to come flooding in. By Graham Hill

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