I am interested in Taylor Wessing's
The UK’s Modern Slavery Act requires businesses to disclose their approach to forced labour on their website. Affected organisations need to produce a statement within six months of their year-end.
Find out by using our free Modern Slavery assessment tool.
Any business with UK operations and a revenue of £36m or more. It is UK presence (not country of origin) and size of operations that makes the Act applicable. So businesses based outside the UK may still be caught.
If they are in scope, publish a website statement of their approach to modern slavery – or state they take no measures. Many will feel this is a burden – and we offer a proportionate, pragmatic solution.
Within six months of their year end from March 2016. So statements will be appearing with increasing rapidity.
The UK government is increasingly following a know and show (or to some, name and shame) approach to business standards.
When she was Home Secretary, Theresa May promoted the Modern Slavery Act which requires affected businesses to publish a statement regarding their approach to forced labour and exploitation. As with anti-bribery and corruption legislation, the aim is to improve business in the UK, and to compel those doing business in the UK to be accountable for supplier practices around the world. The UK wants to set a standard internationally.
Politicians have signalled they intend to improve trust in business standards in several areas. This is just one.
Watch the video Mrs May made explaining the issue for business. She spoke again on the Act on 12 October 2016.
This is not just an issue of compliance. It goes to brand, customer and regulator reputation and helps demonstrate an organisation’s status as a well-run business.
Over 700 businesses in the UK now have published statements about their compliance with the Act. Visit the register of them which is actively monitored. Landlords include anti-slavery clauses in leases. Others include key terms in supplier contracts, and Stronger Together provides a resource centre.