Australian Government announces details of Modern Slavery Reporting Requirement
The Department of Home Affairs will introduce legislation to Parliament by mid-2018 to enact a Commonwealth Modern Slavery Act (MSA). The MSA will establish a Modern Slavery Reporting Requirement which will include four mandatory reporting criteria. Companies with an annual consolidated revenue of $100 million or more will be required to provide information about:
- their structure, operations and supply chain
- potential modern slavery risks
- actions taken to address these risks
- how they assess defectiveness of their actions.
Support and assistance for reporting entities will be provided through a dedicated Business Engagement unit in the Department of Home Affairs. The Unit will also promote best practice, administer the central repository and undertake awareness raising and training.
The legislation will not provide for an Independent Anti-Slavery Commissioner.