As followers of this blog will know, there is an ongoing saga of when the Bribery Act 2010 will actually come into force. At the moment we await the Government publishing specific guidance on what the law will actually mean with the undertaking that the law will then come into force 3 months' later.
The fact that the law has still not been brought into effect led to a lively debate in the House of Lords yesterday with views on the merits / dangers of the Act being expressed. While this does not necessarily take the matter forward particularly it was interesting to hear many member of the Lords speaking about some of the more challenging practices involved in overseas trade, including one Lord having been handed a book by a foreign official with the pages hollowed out to allow a bidding company to insert a suitable bundle of banknotes!
The Bribery Act and its potential effect has caused much concern among businesses especially those who trade overseas but the effect on companies within the UK could be equally significant. Everyone awaits the Government's guidance with interest.