Modern slavery act was passed by NSW Parliament and is awaiting proclamation. The act is meant to stop slavery used in Australian supply chains.
‘The NSW Act requires all businesses with an annual turnover of more than $50 million to report on the risk of modern slavery occurring in their supply chains. In addition, it requires government agencies to take reasonable steps to ensure that the goods and services they procure are not the product of modern slavery.
The NSW Act is in addition to the Commonwealth Modern Slavery Act. It ensures greater transparency for government and business supply chains and provides enforcement and penalties for non-compliance (fines of up to $1.1 million).
