The 2501 Group Pty Ltd - Trading As Studio2501 (herein referred to as Studio2501) is committed to responsible corporate governance and to conducting business in an honest and ethical manner in accordance with State and Federal Australian Law. Honesty and integrity are considered to be integral to the Company’s values and the way Studio 2501 and its subsidiaries (2501 Group Pty Ltd) operate their businesses. Conduct associated with bribery, corruption and dishonesty is inconsistent with the core values of the business and against Australian State and Federal Law. A breach of this policy and associated legislation, may result in Studio2501 and individual company employees being prosecuted.
This Anti-Bribery and Anti-Corruption Policy (Policy) prohibits Studio2501 employees (defined below) from engaging in activity that constitutes bribery or corruption. This Policy supports Studio2501’s corporate governance framework.
The purpose of this policy is to:
This Policy applies to Studio2501 employees irrespective of their employment status (that is, whether they are employed on a full-time, part-time, fixed term, casual, contractual, or temporary basis).
This Policy applies to all individuals at all levels who are employed by, act for, or represent Studio2501 in all locations. This includes, but is not limited to, the following:
Bribery is the act of offering or accepting a benefit, with the intention of influencing a person to behave outside the responsibilities of their role or to not act in good faith, in order to gain a personal or business advantage that is not legitimately due.
Acts of bribery are typically intended to improperly influence individuals to act dishonestly in the performance or discharge of their duty.
A bribe could be either a direct or indirect promise, offering, or authorisation, of anything of value designed to exert improper influence.
The benefit that is offered, given or received may be monetary or non-monetary. For example, it may involve non-cash gifts, political or charitable contributions, loans, reciprocal favours, business or employment opportunities or lavish corporate hospitality.
Whether the target of the act of bribery works in the public or private sector is irrelevant. The relevant laws apply to bribery of public officials as well as bribery in respect of any proposed or completed commercial transaction in the private sector.
Bribery can be direct or indirect. It may involve procuring an intermediary or an agent to make an offer which constitutes a bribe to another person, or where a bribe is made to an associate of a person who is sought to be influenced.
It is irrelevant if a bribe is accepted or paid. Merely offering the bribe will usually be sufficient for an offence to be committed.
Corruption is the misuse of office or power or influence for private or personal gain.
Facilitation payments are typically, but not always, minor unofficial payments made for the purposes of securing or expediting a routine government action by a government official or employee.
Secret commissions typically, but not always, arise where a person or entity (eg any Studio2501 employees) offers or gives a commission to an agent or representative of another person which is not disclosed by that agent or representative to their principal. Such a payment is made as an inducement to influence the conduct of the principal's business.
Most countries have laws that prohibit bribery and corruption domestically. Australia, the United Kingdom and the United States, among others, also have laws that prohibit bribery even when it is committed in another country. In Australia, those prohibitions apply to businesses incorporated in Australia and to individuals who are Australian citizens or residents, wherever they may be.
Studio2501 Employees must not participate in any act that constitutes bribery or corruption as described in this Policy. This means that Studio2501 employees must not directly or indirectly give, offer, promise, request or receive a bribe or cause a bribe to be given or received.
The making of facilitation payments by any Studio2501 employees is also prohibited.
In addition, the payment of secret commissions by any Studio2501 employees is prohibited.
Corruption, bribery and any related conduct are very serious offences.
If any Studio2501 employee or affiliated company is found to have taken part in bribery or any other related improper conduct addressed by this policy, it could face a fine, be excluded from tendering for public contracts and/or suffer reputational harm. An individual may be subject to penalties or lengthy terms of imprisonment.
A breach of this Policy by any Studio2501 employee will be regarded by Studio2501 as serious misconduct, and may lead to disciplinary action which may include termination of employment and/or referral of a matter to relevant authorities.
Gifts, meals, travel, entertainment and other hospitality (Gifts) often form part of a legitimate commercial relationship. However, in some circumstances Gifts can compromise the exercise of objective business judgement, and may result in a breach of this Policy.
Therefore, it is important to be careful when offering, promising, giving or receiving anything of value, particularly involving any government official, to ensure that it does not constitute a bribe or corrupt payment or that it would not be perceived as engaging in improper conduct. As such, precautions must be taken and this Policy must be complied with when offering Gifts to, or receiving Gifts from, any external party or entity.
This Policy does not preclude any Studio2501 employees from giving to, or accepting a Gift from, a government official or any other person, when engaging in Studio2501 business in accordance with the following guidelines.
Before giving a Gift to, or accepting a Gift from, any person, including a government official it is important to:
If a Gift does not satisfy the criteria set out in this policy the Gift must not be given or received by the 2501 Group or employees of Studio2501.
The criteria set out in this policy remains applicable in the case of customary gifts (such as for weddings or cultural festivals).
If any Studio2501 employee proposes to give a Gift to any external party which is of a value in excess of $300, they must obtain prior written clearance from their Immediate Manager.
Gifts of any kind must not be demanded or sought from any supplier, customer, government official or other party with whom Studio2501 conducts business.
If any member of Studio2501 receives a Gift from an external party which is of a value in excess of $300, they must report it to their Immediate Manager, who will then decide whether to provide clearance for the Studio2501 employee to accept the Gift having regard to the criteria set out in this policy.
If clearance is given to give a Gift to an external party in accordance with this policy, it must be recorded in a register (Register of Gifts), which will be maintained by each office and consolidated quarterly by Corporate Services and provided to the Directors of Studio2501.
Where a Gift is received by a employee of Studio2501, after reporting it to their Immediate Manager, it must also be recorded in the Register of Gifts.
Studio2501 will not engage or deal with any third party (being any person or entity, including agents, consultants, distributors, other contractors or joint venture partners) if there is a known risk that they will breach applicable anti-bribery or anti-corruption laws or Studio2501’s policies and procedures relating to anti-bribery and anti-corruption.
Third parties must be chosen carefully and engaged appropriately, as any improper conduct by a third party could damage Studio2501’s reputation and expose the company, its directors and employees to criminal or civil liability or other sanctions.
Before entering into a relationship with a third party, appropriate due diligence enquiries must be undertaken in relation to the third party. The necessary enquiries will vary depending on the nature of the proposed relationship, but will typically, among other things, determine whether:
Once a third party is engaged, they must be given a copy of this Policy.
Standard terms must be included in contractual arrangements with the third party that oblige the third party to operate in accordance with relevant anti-bribery and anti- corruption laws and in accordance with this Policy, and if requested in writing by Studio2501, provide Studio2501 with a written statement that the third party is fully compliant with the relevant anti-bribery and anti-corruption laws and this Policy.
Furthermore, reasonable steps must be taken to monitor the transactions of the third party, which may involve periodic due diligence and review.
All accounts, invoices, and other documents and records relating to dealings with any external party or third party should be prepared and maintained with accuracy and completeness. No accounts may be kept “off-book” to facilitate or conceal potential breaches of this Policy.
All expenditure by Studio2501 employees, including Gifts, must be included in expense reports and approved in accordance with the Studio2501’s policies.
All Studio2501 employees have a responsibility to aid in the prevention, detection and reporting of behaviour in contravention of this Policy.
Should a Studio2501 employee reasonably believe or suspect that a breach of this Policy has occurred, or is likely to occur, they must immediately notify their Immediate Manager or contact Studio2501’s confidential external independent Human Resource Consultant, for the purposes of Whistle Blowing.
As detailed in the Whistle-blower policy, Studio2501 is committed to ensuring that no person will suffer detriment because they have reported a matter. Detriment includes dismissal, disciplinary action, threats or other unfavourable treatment connected with reporting a matter.
Persons who are subjected to such treatment should inform their Immediate Manager or Manager-once-Removed, or contact Studio2501’s confidential external independent Whistle-blower Hotline established under the Whistle-blower System.
Studio2501 external whistle blower contact:
+61 7 3102 5479