The article is a little confusing about where the act applies. It says that it targets companies "who make corrupt payments abroad", but the detailed guidance issued by the Ministry of Justice doesn't mention any difference between payments in the UK or abroad (on a quick reading).
Personally, I think this legislation is a good thing. Over the years, I've seen many examples of bribery - large and small. I once confronted an executive withe evidence that his staff were attempting to bribe potential customers, and he shrugged it off as normal business practice.