Two sets of regulations have come into force under S.54 of the Modern Slavery Act 2015 (MSA 2015) relating to the requirement for any commercial organisation with a total turnover of £36m and above to prepare an annual slavery and human trafficking statement in each financial year.
The Modern Slavery Act 2015 (Transparency in Supply Chains) Regulations 2015 : S.54 of the MSA 2015 requires a commercial organisation supplying goods and services to prepare a slavery and human trafficking statement for each financial year if its total turnover is not less than an amount prescribed by the Secretary of State. These Regulations prescribe that amount as £36m and set out how a commercial organisation’s total annual turnover is to be determined, i.e. the turnover of that organisation and of its subsidiary undertakings after deduction of trade discounts, VAT and any other taxes based on the amounts so derived.
The Modern Slavery Act 2015 (Commencement No. 3 and Transitional Provision) Regulations 2015 brought S.54 into force on 29 October 2015 and include a transitional provision so that a commercial organisation with a financial year that ends before 31st March 2016 does not have to make a slavery and human trafficking statement in respect of that financial year.
To accompany S.54, the Home Office have published a statutory guidance document which sets out what businesses must do to comply with the legislation.
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The aim is to provide summary information and comment on the subject areas covered. In particular, where employment tribunal and appellate court cases are reported, the information does not set out all of the facts, the legal arguments presented by the parties and the judgments made in every aspect of the case. Click on the links provided to access full details. If no link is provided, contact us for further details. Employment law is subject to constant change either by statute or by interpretation by the courts. While every care has been taken in compiling this information, SM&B cannot be held responsible for any errors or omissions. Specialist legal advice must be taken on any legal issues that may arise before embarking upon any formal course of action.
This provides summary information and comment on the subject areas covered. Where employment tribunal and appellate court cases are reported, the information does not set out all of the facts, the legal arguments presented and the judgments made in every aspect of the case. Employment law is subject to constant change either by statute or by interpretation by the courts. While every care has been taken in compiling this information, we cannot be held responsible for any errors or omissions. Specialist legal advice must be taken on any legal issues that may arise before embarking upon any formal course of action.
