Firm News and Blog

Welcome to our latest news and blogs page. Click to read the latest articles below or browse by category on the right.

Modern Slavery Act 2015 statements: Does your organisation qualify?


Background

The Modern Slavery Act 2015 came into force one year ago this month. It requires certain large businesses to produce a statement each year setting out the steps they have taken to ensure modern slavery and human trafficking is not taking place in their business or supply chains.

New Prime Minister, Theresa May, has made combating modern slavery one of her main objectives for the new Cabinet. A government task force has been set up to battle modern slavery and ensure compliance with new legislation.

Who must produce this statement?

A commercial organisation must publish a statement if it meets both of the following criteria:

  • A body corporate or partnership that carries on a business or part of a business in the UK; and
  • Supplys goods or services and has a minimum total turnover of £36 million per year (including any subsidiary undertakings’ turnover).

Foreign parent and subsidiary companies

Where a foreign parent is carrying on a business or part of a business in the UK, it will be required to produce a statement as well as the subsidiary. However, a parent company whose subsidiary meets the criteria can produce a ‘group statement’ for all companies within its group structure.

The Statement itself

The Government has not been prescriptive about the layout, specific content or detail of a slavery and human trafficking statement. However, a statement must include all the steps they have taken or are intending to take to combat modern slavery and human trafficking in the business or supply chain.

Timescales

Statements will have to be prepared for each financial year ending on or after 31 March 2016. A statement should be published as soon as reasonably practicable after the end of the financial year and the guidance states that this should be done within six months of the year end.

Failure to comply

The statement must be published on organisation’s website and include a link to it in a prominent place on the homepage. While injunctive steps can be taken to enforce the duty, public scrutiny is expected to be the primary incentive for compliance.

How we can help

If your company and/or parent company fall under the criteria then we can assist with the following:

  • Preparation of your Anti-slavery policy document;
  • Drafting of your ‘Slavery and human trafficking statement’;
  • Advising your company on approval of these documents by the Board; and
  • Compliance with subsequent publication obligations.

 

For further information about how the Modern Slavery Act affects your business, please contact Will Cadbury at Will.Cadbury@smesolicitors.co.uk

Added: 01 Nov 2016 14:50


Back To Blog