Modern slavery reporting regime to commence

The NSW Government has recently passed the Modern Slavery Act 2018 which will require some companies to report on the risks of modern slavery, such as child labour practices of their suppliers overseas, within their company and supply chain. Under the new Act, companies with revenue of over $50 million and at least one employee in NSW will have to report on the company’s supply chains, foreseeable risks for modern slavery, any actions the company has taken to address those risks and the effectiveness of such actions. If a company either fails to prepare the report in a timely manner or fails to publish the report to the general public, they may face penalties of up to $1.1 million.

Leave a Reply

%d bloggers like this: