Modern Slavery Reporting for Australian Businesses
Today, the Assistant Minister for Home Affairs, the Hon Alex
Hawke MP, tabled the Modern Slavery Bill 2018 in Parliament. The
new reporting regime will have a significant impact on larger
businesses operating in or from Australia.
The Modern Slavery Bill requires businesses based, or operating,
in Australia, which have an annual consolidated revenue of more
than $100 million, to report annually on the risks of modern
slavery in their operations and supply chains, and actions to
address those risks. Entities not caught by this threshold can opt
in.
Under the Bill, businesses will be required annually to submit a
"modern slavery statement" that complies with the
following mandatory criteria (which may change as the Bill passes
through Parliament and is referred to a committee for
consideration). In summary, the statement must:
