Litigation Corporate Governance Reforms: The Modern Slavery Act Review

The Modern Slavery Act 2018 has been under review, with key recommendations for reform emerging in 2021. In December 2024, the Australian government issued its response to the independent review of the Act. The government has agreed, or agreed in principle, to 25 out of 30 recommendations, signalling a more robust approach to addressing modern slavery in corporate supply chains.

Key reforms include:

• Mandatory Reporting: Companies with annual revenue of $100 million or more will be required to report on their efforts to identify and address modern slavery risks within their operations and supply chains. Notably, the current reporting threshold remains unchanged, despite recommendations to lower it. However, the government has agreed in principle to consult further on changes to the reporting criteria, which may include:
  • Modern slavery incidents or risks identified by the entity during the reporting year;