TIL Desk/Business/New Delhi/ The passage of the Prevention of Corruption (Amendment) Bill, 2013, corrects two fundamental flaws in the earlier Act by providing for punishment to both who give and receive bribes and requiring the element of dishonest intention of the public official to be proved for an offence, Arun Jaitley said.
In a Facebook post following the passage of the amendments in the Lok Sabha on Tuesday, Mr Jaitley said the present Prevention of Corruption Act, 1988, legislated in the pre liberalisation era had not visualised the changes in the economy, “when higher participation of the private sector would take place” and neither “anticipated the kind of risk that it could put honest decision makers to”.
“The Bill seeks to punish both – the bribe giver and bribe taker. It provides protection if the briber assists the investigative agency. Even non-monetary gratification has been included within the ambit of the Bill. “Promoters of companies have been made more accountable. Since the company cannot be sent to jail, the individual in the management responsible for the corruption will be held liable,” he said.
