Acting for You, February 2019

Modern Slavery Act passed

The Modern Slavery legislation passed both Houses of Parliament in the last sittings in 2018, introducing a new statutory modern slavery reporting requirement for larger companies operating in Australia. The operative provisions of the Act commenced on 1 January 2019. As previously reported to members (Acting for You, August 2018), the Act incorporates a number of aspects which Governance Institute supports including: the reporting requirements will apply to Commonwealth non-corporate entities, companies and corporations, the $100 million consolidated revenue threshold for reporting, the absence of penalties from the Act, entities’ ability to opt-in to the reporting requirement and the flexibility allowing entities to report within six months after the end of their reporting period which allows for entities with varying year ends.

This article is exclusive to Governance Institute members and subscribers.

To read the full article…

or Become a member