ARTICLE
6 September 2019

Modern slavery reporting requirements

CG
Cooper Grace Ward

Contributor

Established in 1980, Cooper Grace Ward is a leading independent law firm in Brisbane with over 20 partners and 200 team members. They offer a wide range of commercial legal services with a focus on corporate, commercial, property, litigation, insurance, tax, and family law. Their specialized team works across various industries, providing exceptional client service and fostering a strong team culture.
Large Australian entities or large 'entities that carry on business in Australia' must submit a modern slavery report.
Australia Government, Public Sector

Under the Modern Slavery Act 2018 (Cth), Australian entities or 'entities that carry on business in Australia' with a yearly consolidated revenue of at least $100 million will be required to submit a modern slavery report.

In a modern slavery report an entity must describe the nature of their structure, operations and supply chain in order to identify the risk of modern slavery practices and describe the actions that the entity is taking to control, assess and address the risks identified.

In addition to identifying and addressing the relevant modern slavery risks, a reporting entity must sign the statement and provide it to the Department of Home Affairs for publication on the online register.

If an entity fails to comply with the reporting obligations under the Act, the Minister may:

  • request an explanation for the entity's failure to comply
  • request further remedial action
  • publish information surrounding the entity's failure to comply with the requirements.

With the Act commencing on 1 July 2019, an entity's first reporting period will begin in their annual accounting period and their first modern slavery report must be given within six months after its completion.

The New South Wales equivalent legislation, which provides similar obligations for entities with a yearly consolidated revenue of between $50-$100 million, is currently under review and is yet to commence.

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Cooper Grace Ward is a leading Australian law firm based in Brisbane.

This publication is for information only and is not legal advice. You should obtain advice that is specific to your circumstances and not rely on this publication as legal advice. If there are any issues you would like us to advise you on arising from this publication, please contact Cooper Grace Ward Lawyers.

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