The Modern Slavery Act – Time to Act
From 1 April 2016 any commercial organisation or public body with an annual turnover exceeding £36m that engages in the supply of goods and services in the UK in full or in part, is now required to produce an annual ‘slavery and human trafficking statement’, as part of The Modern Slavery Act 2015.
The statement should be published within six months of a company’s year end and applies for financial years ending on or after 31 March 2016.
The statement can be included within the financial statements or published on the company’s website with a prominent link on the homepage.
Whilst it has been stressed the contents of the statement have not been specifically prescribed, guidance for details to include in the statement are as follows:
- The organisation’s structure, nature of its business and its supply chains;
- The organisation’s policy on slavery and human trafficking
- Details of any part of your supply chain where there may be a risk of slavery and human trafficking
- The steps taken to ensure that slavery and human trafficking is not taking place within your operations or supply chain
- The organisation’s policy on training key employees about slavery and human trafficking, to identify areas of risk within their business
The statement should be approved by the Board of Directors or equivalent and signed on its behalf by a Director.
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