New South Wales Legislative Council
New South Wales Legislative Council released its Final Report into the Modern Slavery Act 2018 and associated matters: Business operating in Australia should pay attention to the proposed recommendations, which include retaining penalties for non- compliance.
Of particular interest to business will be how the lower proposed $50 million threshold will be harmonised with teh current national standard under the Australian Commonwealth Act of $100 million. There is also a recommendation that the threshold is based on ‘consolidated turnover’ rather than the reference to existing ‘turnover’.
Unlike the Commonwealth Act, the NSW Act contains penalties for failing to prepare a modern slavery statement. The Committee was in favour or retaining the penalties, even though this creates a discrepancy between the Commonwealth and NSW legislation. It suggested that as part of the Commonwealth statutory review, it would be appropriate for the Commonwealth to re-evaluate its position with respect to penalties for non-compliance.
The Committee recommended that the NSW Government amends the NSW act to specify the relevant authority responsible for conducting prosecutions that involve the requirement to prepare a modern slavey statement.
It is now up to the NSW Parliament to review the Committee’s findings and consider whether to legislate to implement the recommendations contained in the report.
Their approach to take the lead in developing modern slavery legislation will be monitored by other countries and within Australia.
How can Ardea help?
If your business wants to understand its reporting requirements and the risks Ardea International provides support on these issues, drawing on our experience or helping business in the UK implement the requirements of the Modern Slavery Act 2015 #