Statutory Review of the Modern Slavery Act 2018 (Cth)

The Report of the statutory review of the Modern Slavery Act 2018 (Cth) has been released.

 

The statutory review, led by Professor John McMillan, AO, looks at the effectiveness of the Act over the last three years, and makes 30 recommendations to strengthen modern slavery legislation and reporting. The recommendations have a substantial impact on businesses operating in Australia and underscore the necessity for businesses to prepare now.

 

The key themes covered in the recommendations include:

• The revision of reporting criteria

• The establishment of due diligence systems

• The frequency and format of reporting

• The use of templates and online submission

• Coversheets and signature requirements

• Challenges with joint reporting

• Offenses and penalties for non-compliance

• Notification of non-lodgement

• Publication of entities

• Reviews and guidelines, and;

• The role of the Anti-Slavery Commissioner.
   

View the full report here

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Overall, businesses need to act swiftly and proactively to keep up with possible changes based on the Modern Slavery Act review and recommendations. You should review your internal processes, reporting systems, and compliance mechanisms to align with the proposed amendments. Staying informed, adapting to new requirements, and ensuring transparent reporting will be crucial to fulfil your obligations and effectively combat modern slavery.

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The iPRO Modern Slavery Statement Tool is the fastest and most affordable way to help you deal with your modern slavery reporting obligations.

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