This note transmitted by the Danish Permanent Representative to the Secretary-general of the Council, presents a draft Danish initiative aiming to fighting against corruption in the private sector and aims to takeover the 1998 Joint Action adopted on basis of Article K.3 on this same subject (98/742/JAI). In this document, the Danish delegation describes the general objective of the initiative, definitions of acts of corruption, the type of penalties to be imposed for both legal and natural persons. Lastly, the text requires the Member States to ratify two significant conventions relating to the fight against corruption at European and national level.�