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No penalties for Modern Slavery non-compliance

No penalties for Modern Slavery non-compliance

By Karin Derkley

Legislation Workplace Relations 

The LIV has described as "fundamentally flawed" the fact that new federal legislation to combat modern slavery does not include penalties against companies that fail to comply with its requirements. The Modern Slavery Bill 2018 requires Australian entities with revenue of more than $100 million to report annually on the risks of modern slavery in their local and global operations and supply chains. However, the Bill prescribes no financial or criminal penalties for failing to comply. The LIV describes this as a "fundamental flaw" in its feedback to the Law Council of Australia for their submission to the Legal and Constitutional Affairs Legislation Committee's inquiry into the Bill."The only consequence for entities that do not comply would be the risk of negative publicity, the threat to brand value, company reputation and investor relations. The LIV does not consider these consequences sufficient," the memo says. A similar Act in NSW includes penalties and fines for non-reporting.

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