Common use of Prevention of Fraud and Corruption Clause in Contracts

Prevention of Fraud and Corruption. 9.1 The RSB will not offer, give, or agree to give anything to any person as an inducement or reward for doing, refraining from doing, or for having done or refrained from doing, any act in relation to the obtaining or execution of this Delegation Agreement or for showing or refraining from showing favour or disfavour to any person in relation to this Delegation Agreement. 9.2 The RSB will take all reasonable steps, in accordance with good industry practice, to prevent fraud by the Staff and the RSB (including its shareholders, members and directors) in connection with this Delegation Agreement and will notify the FRC immediately if it has reason to suspect that any fraud has occurred or is occurring or is likely to occur. 9.3 If the RSB or the Staff engages in conduct prohibited by clause 9.1 or commits fraud in relation to this Delegation Agreement or any other contract with the Crown (including the FRC) the FRC may: (a) terminate this Delegation Agreement and recover from the RSB the amount of any loss suffered by the FRC resulting from the termination, including the cost reasonably incurred by the FRC of making other arrangements for the performance of the Delegated Tasks and any additional expenditure reasonably incurred by the FRC throughout the remainder of this Delegation Agreement; and/or (b) recover in full from the RSB any other loss sustained by the FRC in consequence of any breach of this clause.