Modern Slavery Act: Annual statement requirement
23 April 2015
The Modern Slavery Act requires companies with a certain level of turnover, to disclose what steps they have taken to ensure their business and supply chains are slavery free. The Government are now consulting on what level of turnover a business should be required to have for this provision to apply.
The consultation is open until 7 May 2015 and is specifically focused on which companies the transparency in supply chains measure should apply to, and what statutory guidance on this measure should contain.
A size threshold for turnover will be set by secondary legislation, before the transparency in supply chains measure is commenced. Draft statutory guidance will then be produced.