The National Assembly is preparing to forward the Bribery Bill to President Uhuru Kenyatta for assent after a one-year delay.
The proposed law, modelled along the UK’s Bribery Act, seeks to punish private sector bribery especially in dealings with government and public agencies.
Majority leader Aden Duale said Bill is being fine-tuned before it is sent to the Head of State to either assent it or reject it with suggested improvements.
“We are now preparing a vellum copy which will shortly be sent to the President. I expect that before Christmas it will be signed into law,” Mr Duale told the Business Daily on Wednesday.
He said there were no amendments done by lawmakers. “The Bill passed as it was.”
The proposed law, drafted by lawyer Mohammed Nyaoga, was presented to Mr Kenyatta in November 2015 by Safaricom boss Bob Collymore on behalf of the Kenya Private Sector Alliance (KEPSA).
Those convicted of giving, soliciting, receiving, or agreeing to receive a bribe face a Sh1 million fine and a 10-year jail term.
Companies engaging in bribery face Sh5 million fine accompanied with a 10-year ban from transacting business with the national or county governments.
Further, once the Bill becomes law, those found to have benefited from proceeds of bribery and graft will have their assets seized five times the amount of bribe or loss suffered by taxpayers.