The Crimes Legislation Amendment (Combatting Foreign Bribery) Bill 2023 has been passed by both houses of Parliament. Background. It is awaiting Royal Assent.
UPDATE: Royal Assent given on 8 March 2024.
The Bill seeks to broaden the scope of commercial and personal conduct that may be captured under the existing offence of foreign bribery.
The Bill introduces a new corporate offence of failure to prevent bribery of a foreign public official.
The Bill also makes related changes to income tax legislation to prohibit a person from claiming tax deductions relating to foreign bribery.
The legislation commences six months after royal assent: 8 September 2024.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
