Section 54 of the Modern Slavery Act 2015 came into force on 29 October 2015. This section requires commercial organisations operating in the UK with an annual turnover of over £36 million to publish a statement setting out what it does to alleviate slavery and human trafficking in its business and its supply chain.
The Government has now also published eagerly awaited guidance which explains how to comply with the Act, and what information organisations should consider including in their statement.
Transitional provisions have now been published too. Helpfully, these provisions have clarified that the requirement to publish the anti-slavery statement will only apply in respect of financial years ending on or after 31 March 2016.
There is no prescribed time limit in which to make the statement. The guidance suggests it should be published as soon as reasonably practicable after the financial year end to which it relates, to ensure that it is relevant and current. Organisations will be encouraged to make the report within six months of the organisation's financial year end to which the statement relates.
We previously issued a guide to the Modern Slavery Act which includes a helpful checklist of things organisations should be considering now to put them in the best position to comply with the Act in the most positive way.
You can access the key information here: