Share Tweet Plus One Pin It Email Print By: Vipin Warrier August 24, 2018 3:24 pm Change Font Size India has a long history when it comes to regulation of corruption, commencing from the enactment of the Criminal Law (Amendment) Ordinance, 1944 under the Government of India Act, 1935. The first consolidated law in independent India was the Prevention of Corruption Act, 1947. The 1947 Act was replaced with the Prevention of Corruption Act, 1988 (PC Act) whereby the scope of the definition of a public servant was widened. The instant amendment that received the assent of the President on 26th July 2018 was “necessitated by India’s ratification of the United Nations Convention Against Corruption (UNCAC) in May 2011, judicial pronouncements, and the need to bring domestic laws in line with international practices”. One of the most significant aspects of the amendment is that almost akin to the UK Bribery Act 2010 and Foreign Corrupt Practices Act, 1977, private sector entities that carries on business (defined as commercial organisation) has been distinctly brought under the purview of the PC Act. Offences by a Commercial Organisation s.8 makes that act of a person giving or offering undue advantage to another person… Read full this story
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