Business Mantra News
- Lok Sabha on Tuesday cleared The Prevention of Corruption Amendment Bill, 2018 seeking to amend the various provisions of “The Prevention of Corruption Act, 1988”.
- The Amendment Bill provides for enhanced punishment for both public servants and private persons who are found guilty of corruption. Both Briber giver and Briber taker would be punished under the new legislation.
- The Bill has already been passed by the Rajya Sabha on 19th July 2018 enhanced the sentence of corrupt public servants and those bribing them.
- The Punishment of those who found guilty of bribe giving and taking has been increased from imprisonment of6 months in the original law to 3 years which may extend up to 7 year with fine and the minimum punishment for repeat offenders is set to 5 years which may extend up to 10 years with fine. However,a person who is compelled to give bribe will not be liable to punished.
- The new Bill also expended the definition of “Undue Advantage” which is any gratification other than legal remuneration.
- Apart from the enhanced term of punishment, the new enactment provides for immediate attachment and forfeiture of illegal property of a public servant under the Prevention of Money Laundering Act, 2002.
- The Law also provides of time limit for trial of cases. Trials must be concluded within a period of 2 years and if not, reasons must be recorded for delay with time extension of six months of trial. However, the maximum period for trial must not exceed upto 4 years.