The NSW Parliament has passed the Modern Slavery Act 2018 (NSW) which will establish a modern slavery reporting requirement for businesses operating in NSW that have an annual turnover of $50 million or more. The Act has not yet been proclaimed and the commencement date is currently unknown.
Under the legislation, businesses which have an annual turnover of $50 million in a financial year will be required to prepare and make public an annual modern slavery statement. A $1.1 million maximum financial penalty can be imposed on an organisation that fails to provide a modern slavery statement.
If you would like more information requirements under the Act please contact Ai Group’s Workplace Advice Service on 1300 55 66 77.
Alternatively, if you would like advice developing compliance programs under the Act and avoiding penalties please contact your local employment, workplace and industrial lawyer in Sydney, Newcastle, Wollongong, Adelaide, Melbourne or Brisbane or email Ai Group Workplace Lawyers at firstname.lastname@example.org.