Modern Slavery Act 2015 made law today: What it means for companies and their supply chains
On Thursday March 26th, the Modern Slavery Bill received Royal Assent in parliament to become the Modern Slavery Act 2015.
The Modern Slavery Act consolidates the current legislation relating to trafficking and slavery.
It contains a specific supply chains clause requiring businesses over a yet to be determined size threshold to report annually on the action they have taken to ensure there is no modern slavery in their business or supply chain.
The government said it was fitting for the Bill to be passed on the United Nations day of remembrance for victims of slavery.
On Wednesday March 5th, the Modern Slavery Bill passed through the House of Lords with a number of key amendments to the Supply Chains clause for companies.
The Modern Slavery Bill consolidates the current offences relating to trafficking and slavery, and is due to be passed into law by May 2015. It contains a specific supply chains clause requiring businesses to report annually on the action they have taken to ensure there is no modern slavery in their business or supply chain.
The primary amendments in the House of Lords will require a director to approve or sign a company's annual slavery and human trafficking statement, and also give guidance to the areas which may be included in the annual statement. These final changes are being debated in parliament on March 17.