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.
Under the legislation, businesses which have an annual turnover of $50 million in a financial year will be required to submit 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.
No regulations for the legislation have yet been made. The Act has not yet been proclaimed and the commencement date is currently unknown.
If you would like more information about the Bill please contact Ai Group’s Workplace Advice Service on 1300 55 66 77.
Alternatively, if you would like advice regarding about developing modern slavery policies in your workplace please contact your local employment, workplace and industrial lawyer in Sydney, Newcastle, Wollongong, Adelaide, Melbourne or Brisbane or email Ai Group Workplace Lawyers at email@example.com.
If you would like assistance with training and short courses, please find our current training calendar at this link. In addition, Ai Group can develop and conduct specific training programs for your business on a wide range of topics. Please contact Ai Group’s Training on 1300 55 66 77 for further details.