Australian Federal Modern Slavery Bill 2018 Enters Parliament

Following on from the recent passing of the Modern Slavery Bill in New South Wales, the Australian Federal Modern Slavery Bill 2018 was introduced to Parliament by the Assistant Minister for Home Affairs, Alex Hawke MP. At the center of the Bill is the mandatory requirement whereby entities based, or operating, in Australia, with an annual consolidated revenue in excess of AUD $100 million, must report annually on the risks of modern slavery in their local and global operations and supply chains, and take actions to address those risks. Entities in scope will be required to publish an annual statement, within six months of the end of their financial year, describing the risks and actions taken in relation to modern slavery. Debate on the Federal Bill will occur in the next Parliamentary sittings period beginning in August 2018. If you would like to find out how you can stay on top of regulatory issues related to modern slavery, Talk to Us today!