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​Companies liable for employees' foreign bribery acts abroad under proposed Australian law

( December 3, 2019, 05:40 GMT | Official Statement) -- MLex Summary: Companies will be considered directly liable for foreign-bribery activities of their employees, external contractors, agents and subsidiaries under tough new legislation introduced to the Australian parliament this week. Speaking in the Australian Senate on Monday, Jonathan Duniam, an assistant minister in Australia’s center-right government, said the proposed legislation was modeled on anti-bribery laws in existence in the UK and would include guidance material to clarify how companies that have taken “adequate procedures” to prevent the act of bribery taking place could avoid prosecution. Such an exemption would be based on guidelines formulated by the Organization for Economic Cooperation and Development. Companies and individuals have until February 2020 to make submissions about the guidelines, Duniam said.Excerpt of Australian Senate debate transcript is attached. ...

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