Anti-Bribery and Anti-Corruption Policy Statement
LTSS Limited – CREE Lighting UK Authorised Agents
Anti-Bribery and Anti-Corruption Policy Statement
LTSS Limited as CREE Lighting UK Agents are committed to developing a CREE UK entity fully compliant with all UK legislative and business requirements.
Under UK law, there is a general offence of bribery, and of bribing a foreign official. Bribery is defined as giving or receiving a financial or other advantage to induce someone to perform their functions or activities improperly, or to reward them for having already done so. In addition, there is an offence relating to failure by a business to prevent a person associated with it from committing the above offences on its behalf in order to win business, keep business or gain a business advantage for the organisation. Penalties arising from bribery offences committed by an individual include possible imprisonment, and/or unlimited fines. A Director may also be disqualified from acting as a Director, and a Company can be subject to an unlimited fine and also debarred from public sector contracts.
LTSS Limited is committed to maintaining its reputation for lawful and ethical behaviour and for financial integrity in all aspects of its business, and absolutely forbids corruption and the giving or receipt of bribes for any purpose. LTSS Limited prohibits bribery of or by any person or company, in any jurisdiction, wherever they are situated and whether they are a public official or body or private person or company, or by any individual employee, agent or other person or body acting on the companies behalf in order to:
• gain any commercial, contractual or regulatory advantage for the Group in a way which is unethical or
• gain any personal advantage, pecuniary or otherwise, for the individual or anyone connected with the individual or
• induce the improper performance of any function that is of a public nature, connected with a business, performed by a body or performed by a person in the course of their employment.
LTSS Limited aims to prevent its and CREE’s exposure to bribery and corruption by:
• Maintaining a corporate culture and values in which bribery would not be acceptable
• Setting out a clear anti-bribery policy
• Widely communicating the company’s anti-bribery policy internally;
• Ensuring that employees understand, recognise and avoid the use of bribery by themselves and others;
• Encouraging employees to be alert to, and report any suspicion of, bribery immediately,
• providing proper channels of communication and ensuring all information is treated in an appropriate manner;
• Taking appropriate disciplinary action against any employee(s) involved in bribery.
The prevention, detection and reporting of bribery is the responsibility of all employees throughout the Company. Suitable channels of communication by which employees can report confidentially any instances of bribery or corruption or suspicion of bribery or corruption should be kept open. Employees suspected to be in breach will be subject to a thorough investigation and disciplinary proceedings, if appropriate, in addition to potential criminal proceedings.