Modern Slavery Act comes into force - turnover threshold for business to declare what steps they are taking has been set at £36m

Modern Slavery Act comes into force – turnover threshold for business to declare what steps they are taking has been set at £36m

On 1 July 2015, the new Modern Slavery Act came into force.

Under the act there is a requirement that, starting October 2015, commercial organisations with a turnover of £36 million or more carrying on business in the UK will have to prepare a slavery and human trafficking statement each financial year, stating the steps they have taken to ensure their business and supply chains are slavery free.

The statement requires sign-off from those responsible for the organisation and should outline the steps taken by the business to ensure that no slavery or trafficking is occurring in its supply chain or within its operations.

Section 54(5) under Part 6 of the Act elaborates on what provisions should be included in a statement, such as:

the organisation’s structure, its business and supply chains;
its policies in relation to slavery and human trafficking;
its due diligence processes in relation to slavery and human trafficking in its business and supply chains;
the parts of its business and supply chains where there is a risk of slavery and human trafficking taking place, and the steps it has taken to assess and manage that risk;
its effectiveness in ensuring that slavery and human trafficking is not taking place in its business or supply chains, measured against such performance indicators as it considers appropriate;
the training about slavery and human trafficking available to its staff.

Click here to download the act.

VinciWorks has released an online training course on the Modern Slavery Act. The 20 minute, online course:

reviews the legal requirements
teaches staff how to identify slavery in the supply chain
provides examples of red flags
explains the organisation’s reporting procedures

Click here for more more information or fill in the form below.

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