Is your company ready to comply?

Section 54 of the Modern Slavery Act will come into force tomorrow and as companies are aware, under the Act commercial organisations, supplying goods or services, with a turnover of £36 million or above will have to publish an annual statement setting out what they are doing to ensure that there is no modern slavery in their own organisation any of their supply chains. The turnover calculation includes those organisations that are only carrying out part of their business in the UK, as well as including the turnover of foreign subsidiaries, so supply chains can be complex particularly as services are caught as well as goods.

Companies with a financial year-end from 29 October up to and including 30 March 2016 will not be required to make a slavery and human trafficking statement for the financial year 2015/16. However all organisations with a financial year-end of 31 March 2016 will be required to publish a slavery and human trafficking statement for the financial year 2015/16 within 6 months of their financial year-end so if that is you, are you ready to comply?

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