"THE TOUGHEST ANTI-CORRUPTION LEGISLATION IN THE WORLD"
The OEG Offshore group values its reputation and is committed to maintaining the highest level of ethical standards in the conduct of its business affairs. The actions and conduct of the company’s staff as well as others acting on the company’s behalf is a key driver to maintaining these standards.
The Bribery Act 2010 was introduced to update and enhance UK law on bribery including foreign bribery in order to address better the requirements of the 1997 OECD anti-bribery Convention. It is now among the strictest legislation internationally on bribery. Notably, it introduces a new strict liability offence for companies and partnerships of failing to prevent bribery & Corruption.
The introduction of this new corporate criminal offence places a burden of proof on companies to show they have adequate procedures in place to prevent bribery. The Bribery Act also provides for strict penalties for active and passive bribery by individuals as well as companies.
Implication for companies, boards and management
The Bribery Act is legislation of great significance for companies incorporated in or carrying on business in the UK. It presents heightened liability risks for companies, directors and individuals. To avoid corporate liability for bribery, companies must make sure that they have strong, up-to-date and effective anti-bribery policies and systems.
The Bribery Act unlike previous legislation places strict liability upon companies for failure to prevent bribes being given (active bribery) and the only defence is that the company had in place adequate procedures designed to prevent persons associated with it from undertaking bribery.
The Bribery Act creates four prime offences :
Two general offences covering the offering, promising or giving of an advantage, and requesting, agreeing to receive or accepting of an advantage;
A discrete offence of bribery of a foreign public official ; and
A new offence of failure by a commercial organisation to prevent a bribe being paid to obtain or retain business or a business advantage (should an offence be committed, it will be a defence that the organisation has adequate procedures in place to prevent bribery).
It may not always be a simple matter to determine whether a possible course of action is appropriate. If there are doubts as to whether a possible act might be in breach of the OEG Offshore Group company policy or the law, the matter should be referred to your Head of Department.
OEG Offshore Group will investigate thoroughly any actual or suspected breach of our policy, or the spirit of our policy. Employees found to be in breach of this policy may be subject to disciplinary action which may ultimately result in their dismissal.
Jurisdictional reach of the bribery act
The Bribery Act has extra-territorial reach both for UK companies operating abroad and for overseas companies with a presence in the UK.
Companies doing business overseas :
Companies registered in the UK must take note of the extra-territorial reach of the Bribery Act. A company can commit an offence under section 7 of failure to prevent bribery if an employee, subsidiary, agent or service provider (‘associated persons’) bribes another person anywhere in the world to obtain or retain business or a business advantage.
A foreign subsidiary of a UK company can cause the parent company to become liable under section 7 when the subsidiary commits an act of bribery in the context of performing services for the UK parent. If the foreign subsidiary were acting entirely on its own account it would not cause the UK parent to be liable for failure to prevent bribery under section 7 as it would not then be performing services for the UK parent.
However, the UK parent might still be liable for the actions of its subsidiary in other ways such as false accounting offences or under the Proceeds of Crime Act 2002.
Employees responsibility and how to raise a concern
The prevention, detection and reporting of bribery or corruption is the responsibility of all employees throughout the OEG Offshore Group. If any Employee becomes aware or suspects that an activity or conduct which is proposed or has taken place is a bribe or is in anyway corrupt, then it must be reported immediately.
Any such incidents should be reported in accordance the Company's whistle blowing policy (which can be found on the Employee Intranet in the Anti-Bribery & Corruption section) or to john dot heiton at oegoffshore dot com, Group CEO.
Resources and training
It is OEG Offshore Group policy to conduct its business in an honest and ethical manner. OEG takes a zero-tolerance approach to bribery and corruption and is committed to acting professionally, fairly and with integrity in all of its business dealings and relationships wherever OEG operates. We provide policy awareness training and enhanced training where necessary to ensure that we have adequate to prevent Bribery.
We are committed to the prevention, deterrence and detection of bribery and corruption. We aim to maintain anti-bribery compliance “business as usual”, rather than as a one-off exercise.
The following resource links are provided for our Employees and website visitors to further expand awareness and updates on the latest online information available;
|OEG Offshore Group Policy|
|Wikipedia - Bribery Act 2010 (History)|
|Transparency UK - Resouce links|
|Corruption by Country|
|Serious Fraud Office|
|UK Anti-Bribery Policy - UK Gov|
|Corruption Perceptions Index (CPI) Video|