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30-09-2015

The Modern Slavery Act 2015 will apply to commercial organisations, including partnerships, supplying goods or services and which have a turnover of £36m or more. Under the new laws, organisations will have to report publicly on the steps they have taken to ensure that their operations and supply chains are free from slavery and human trafficking.

In order to comply, businesses must have a slavery and human trafficking statement which they must publish each financial year on their website or, where they do not have a website, on request within 30 days.  The statement must be approved by the board (or equivalent management body) and signed by a director (or equivalent).

The Government is expected to publish statutory guidance on the content of the statement in October 2015. Although the Government has indicated that there will be transitional provisions, organisations affected by the new legislation need to start preparing now.

Read the original announcment about the Modern Slavery Act 2015.

TESTIMONIALS

Standout firm known for its personal insolvency work for clients including private companies, individuals and governmental institutions. Frequently acts for insolvency practitioners, assisting with the realisation of assets, both in the UK and abroad.

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