Anti-bribery and Corruption Policy


Policy summary:

 

All Ikonic employees, officers and directors, and all those acting for or on Ikonic's behalf are prohibited from offering, paying, soliciting or accepting bribes or kickbacks, including facilitation payments.

The requirements set out in this policy apply to Ikonic and all their employees, officers and directors.

Given the serious nature of a breach, an employee’s failure to comply with this policy, whether intentionally or by an act of negligence, may lead to disciplinary action being taken that could ultimately result in termination of employment.

 

 

Relevant law

 

Anti-bribery laws exist in most countries around the world. Ikonic focus on the laws in the UK but Ikonic requires compliance with the laws of all countries which are applicable to our business and you should seek advice where relevant.

 

 

UK Bribery Act

 

Under the UK Bribery Act it is an offence for a person to offer, promise or give money, gifts or anything of value to another person, or to request or receive the same from another person, as an inducement or reward for performing a function improperly or where the acceptance or receipt would itself be improper. Any form of gift, consideration, reward or advantage can constitute a bribe – it need not be an offer of money. This general law criminalises the offering of bribes to persons in both the public and private sector, i.e. it is not confined to the corruption of government officials.

The Act also contains a specific offence for the bribing of foreign public officials. A prosecutor does not need to show ‘impropriety’, only that it was the offender’s intention to influence the public official in order to obtain or retain business or a business advantage.

The Bribery Act applies to any offences taking place in the UK, but also to offences taking  place wholly outside the UK where they are committed by British citizens, UK residents or  bodies incorporated in the UK, even in some cases where they are customary locally or permitted under local law.

The Act also introduces a new corporate offence which imposes criminal liability on any company incorporated in the UK or which carries on part of its business in the UK (including, for example, a foreign corporate with only a branch office in the UK) for failure to prevent bribery by anyone providing services for or on behalf of the company. This may include employees, agents, representatives, intermediaries, subsidiaries and joint ventures.

A company will not be guilty of the corporate offence if it can demonstrate that it has ‘adequate procedures’ in place to prevent such persons and entities from committing bribery. This Antibribery Policy forms part of Ikonic’s ‘adequate procedures’.

Individuals who commit bribery can be subject to up to ten years’ imprisonment and/or unlimited fines. Companies that commit an offence may also face significant fines, confiscation of the benefits of any tainted contract and debarment from tendering for public procurement work and other government contracts.

 

 

Compliance and oversight

 

Every Ikonic employee is responsible for compliance with this policy. Responsibility for oversight of the policy and its enforcement has been assigned to the Managing Director, with the assistance professional adviser as appropriate. Adherence to the policy will be subject to regular review by other senior management/Directors. Ikonic will also provide regular training for relevant employees regarding this policy and general compliance with anti-bribery obligations. All new employees whose day-today activities may be affected by this policy will receive appropriate training within a reasonable time after commencing employment and will acknowledge that they have received a copy of this policy and will comply with the policy and all associated laws and procedures.

 

Chris Perry – Managing Director

  

 

Policy summary:

 

All Ikonic employees, officers and directors, and all those acting for or on Ikonic's behalf are prohibited from offering, paying, soliciting or accepting bribes or kickbacks, including facilitation payments.

The requirements set out in this policy apply to Ikonic and all their employees, officers and directors.

Given the serious nature of a breach, an employee’s failure to comply with this policy, whether intentionally or by an act of negligence, may lead to disciplinary action being taken that could ultimately result in termination of employment.

 

 

Relevant law

 

Anti-bribery laws exist in most countries around the world. Ikonic focus on the laws in the UK but Ikonic requires compliance with the laws of all countries which are applicable to our business and you should seek advice where relevant.

 

 

UK Bribery Act

 

Under the UK Bribery Act it is an offence for a person to offer, promise or give money, gifts or anything of value to another person, or to request or receive the same from another person, as an inducement or reward for performing a function improperly or where the acceptance or receipt would itself be improper. Any form of gift, consideration, reward or advantage can constitute a bribe – it need not be an offer of money. This general law criminalises the offering of bribes to persons in both the public and private sector, i.e. it is not confined to the corruption of government officials.

The Act also contains a specific offence for the bribing of foreign public officials. A prosecutor does not need to show ‘impropriety’, only that it was the offender’s intention to influence the public official in order to obtain or retain business or a business advantage.

The Bribery Act applies to any offences taking place in the UK, but also to offences taking  place wholly outside the UK where they are committed by British citizens, UK residents or  bodies incorporated in the UK, even in some cases where they are customary locally or permitted under local law.

The Act also introduces a new corporate offence which imposes criminal liability on any company incorporated in the UK or which carries on part of its business in the UK (including, for example, a foreign corporate with only a branch office in the UK) for failure to prevent bribery by anyone providing services for or on behalf of the company. This may include employees, agents, representatives, intermediaries, subsidiaries and joint ventures.

A company will not be guilty of the corporate offence if it can demonstrate that it has ‘adequate procedures’ in place to prevent such persons and entities from committing bribery. This Antibribery Policy forms part of Ikonic's  ‘adequate procedures’.

Individuals who commit bribery can be subject to up to ten years’ imprisonment and/or unlimited fines. Companies that commit an offence may also face significant fines, confiscation of the benefits of any tainted contract and debarment from tendering for public procurement work and other government contracts.

 

 

Compliance and oversight

 

Every Ikonic employee is responsible for compliance with this policy. Responsibility for oversight of the policy and its enforcement has been assigned to the Managing Director, with the assistance professional adviser as appropriate. Adherence to the policy will be subject to regular review by other senior management/Directors. Ikonic will also provide regular training for relevant employees regarding this policy and general compliance with anti-bribery obligations. All new employees whose day-today activities may be affected by this policy will receive appropriate training within a reasonable time after commencing employment and will acknowledge that they have received a copy of this policy and will comply with the policy and all associated laws and procedures.

 

Chris Perry – Managing Director