This week the Ministry of Justice proudly announced that the long-awaited Bribery Act will become law in 2011. "The act will ensure the UK is at the forefront of the battle against bribery," it said on Tuesday. The legislation follows a long-term Guardian investigation into allegations of corruption against BAE (vigorously denied), and some costly plea bargaining with the authorities on both sides of the Atlantic on the part of the arms company.

Earlier this year BAE paid the Serious Fraud Office and the US justice department £286m in fines relating to charges of false accounting and making misleading statements.

The act creates a new, strict liability offence of failure by a commercial organisation to prevent payments of bribes by employees or others working on its behalf. Although the intention of the defendant is not relevant in strict liability offences, companies will have a defence if they have adequate procedures in place to prevent bribery. The act also increases the maximum jail term for bribery from seven to 10 years.

Hang on a minute. Wasn't the act supposed to come into force in 2010? It received royal assent in April, nearly 18 months after the law commission's "final report" on bribery recommended the introduction of the new corporate offences. Why the delay?

The government says there is going to be another period of consultation about the guidance companies should put in place. Eoin O'Shea, head of the anti-corruption group at legal firm Lawrence Graham, points out that the OECD and others have already made recommendations about corporate procedures, that could be adapted. "I'm sure the government is sincere in this," he told me. "But I cannot help being reminded of the prayer of St Augustine of Hippo, who asked to be made chaste, but not yet."

Transparency International has also expressed disappointment. "The danger is that under the guise of consultation attempts may be made by those who want to pursue 'business as usual' to water down the Bribery Act," it said. It has published its own guidance on the act to help move things along.

• Afua Hirsch is away