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Modern Slavery Act - Does it apply to your business?
Many SMEs will not pay much attention to the Modern Slavery Act as it will only apply to commercial organisations turning over more than £36M per annum. Under Section 54 of the 2015 Act which came into force on 29th October such businesses must publish an annual ‘slavery and human trafficking statement’.

However, if your business is part of a franchise or a subsidiary of a larger organisation - or indeed is a supplier to businesses captured by the legislation, you need to be aware of the requirements of the new legislation in case it affects you.

The Government has produced some detailed guidance and it is important to note that businesses whose financial year ends on the 31st March 2016 need to have published their statement as soon as possible after that. Businesses will be required to set out the steps they have taken to ensure that slavery is not taking place in any part of the business or supply chain.

The guidance can be found by searching for "Transparency in Supply Chain" on the website.
Posted on 19 Nov 2016

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