With the adoption of Sultani Decree 41/2016, the Sultanate of
Oman ratified the Convention on Combating Bribery of Foreign Public
Officials in International Business Transactions (the
The core obligation of the Convention requires Oman to make it a
criminal offence for any person to intentionally bribe a foreign
public official. Inciting, aiding, abetting and authorising
an act of bribery of a foreign official are also to become criminal
offences, as are attempting to and conspiring to bribe a foreign
official. Effective, proportionate and dissuasive criminal
penalties must be imposed and rules for seizure and confiscation of
the relevant bribes must also be introduced. While the
primary criminal liability is imposed on individuals, legal persons
such as companies are also to be liable.
Bribery of foreign officials is to be an offence under Oman law
wherever the offence is committed in whole or in part in Oman, and
Omani nationals will also be liable for offences committed
Oman's anti-money laundering legislation will also apply to
funds involved in bribery of a foreign official. Civil,
administrative or criminal penalties must be imposed for omissions
or falsification of companies' books, records, accounts and
financial statements. Further, bribery of a public official
will become an extraditable offence.
At the same time a number of connected recommendations have been
adopted which could result in obligations on companies relating to
external audit, internal controls, ethics and compliance
programmes, in line with good practice guidelines. Companies
are to be encouraged to make statements in their annual reports or
otherwise publicly disclose their internal controls, ethics and
compliance programmes and other measures for the purpose of
preventing and detecting foreign bribery. They should also
create monitoring bodies that are independent of management, such
as audit committees of boards of directors. Channels for
communication are to be provided for employees who wish to report
breaches of the law, professional standards or ethics, and
protection should be provided for those individuals.
Government authorities should be able to suspend companies that
have bribed foreign public officials from competing for public
contracts or other public advantages.
Combined with other recent changes in the laws relating to
corruption and money laundering, the ratification of the Convention
generally points to the importance of companies ensuring that they
have clear and up-to-date policies, procedures and structures in
place to combat these risks, and that they have sufficiently
Dentons is the world's first polycentric global law firm. A
top 20 firm on the Acritas 2015 Global Elite Brand Index, the Firm
is committed to challenging the status quo in delivering consistent
and uncompromising quality and value in new and inventive ways.
Driven to provide clients a competitive edge, and connected to the
communities where its clients want to do business, Dentons knows
that understanding local cultures is crucial to successfully
completing a deal, resolving a dispute or solving a business
challenge. Now the world's largest law firm, Dentons'
global team builds agile, tailored solutions to meet the local,
national and global needs of private and public clients of any size
in more than 125 locations serving 50-plus countries.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
Join us for an engaging discussion on the Trump administration's workplace policy priorities, their likely impacts on employers, and what you can do now to prepare for the changes to come. Among the topics to be covered are: the effect on the labor pool of proposed changes in immigration policy; the impact of Obamacare "repeal and replace" on employer-sponsored health plans; compensation issues; the future of regulations covering whistleblowing and human rights protections; the Trump NLRB; the DOL's Fiduciary Rule; and workplace discrimination. Dentons partner Cynthia Jackson will lead a panel of Dentons attorneys as they tackle these questions and more.
Co-hosted by Dentons Rodyk and the Singapore Chamber of Commerce (Western Australia), this invitation only event is an opportunity to hear from experienced Australian-based ASX advisors as they discuss the processes for Singaporean based growth companies considering seeking a listing on ASX.
3:45 p.m. - Registration & refreshments
4:00 p.m. - Welcome address by Mr S. Sivanesan, Corporate Senior Partner, Dentons Rodyk
4:05 p.m. - Opening remarks by Moderator, Mr Roger Steinepreis, Chairman of Partners, Steinepreis Paganin, Foundation Member of the Singapore Chamber of Commerce (Western Australia)
4:10 p.m. - Start of presentation
5:05 p.m. - Q & A
5:35 p.m. - Closing remarks by Mr Eugene Lim, CEO, Singapore Chamber of Commerce (Western Australia)
6:00 p.m. - End of session.
Please mark your calendar and join us in our New York office on February 15, from 3 to 6:30 p.m. for a global cross-border M&A seminar featuring two separate panel discussions followed by a cocktail reception. The first panel will discuss the prospects for global M&A under a new US administration with perspectives from our colleagues in Latin America as well as US industry experts. The second panel will review the impact of Chinese investments on a global stage featuring both US and China decision makers.
Many were surprised to see a Minister of Regional Re-organisation & Development' included amongst the second batch of ministerial appointees announced by Ghana's new President, Nana Addo Dankwa Akufo-Addo.
He was the first law graduate of a free Congo in 1961 and was for a
long time, a loyalist of President Mobutu Sese Seko (1965-1997),
holding the roles of Minster of Interior and Minister of
Justice for example.
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).