Australia to Review their Foreign Bribery Law
The Australia Senate is reviewing the state of their foreign bribery law which may lead to Australia amending the current law to include, for example:
– Introducing a new offence similar to section 7 of the UK Bribery Act where a company could be found liable for bribery of its employees and/or agents unless the company can show it had in place adequate procedures to prevent such an offence.
– Abolishing facilitation payments as a defence to foreign bribery
– Introducing structured settlement agreements between prosecutors and a company, which are supervised by a Court
– Enacting broad statutory protections for all private sector whistleblowers.
At this stage Australia is considering submissions made by lawyers, companies and trade bodies to decide whether to change their current laws.
Bivonas Law LLP contributed to the International Bar Association’s Anti-Corruption Committee’s submission to the Australian Senate Economics References Committee on this topic. The submission has been published on the Australian Senate Economics References Committee’s webpage as Submission Number 6 and can be found here.