This session took place 11th October 2023
New Zealand’s Deputy Prime Minister has announced the introduction of new modern slavery legislation.
The proposed law (which is in the drafting phase) will introduce mandatory reporting for companies with an annual revenue of NZ$20 million or more.
This will be in the form of an annual statement, which will be accessible on a public register, identifying modern slavery risks within the entity’s operations and supply chains.
Organisations will also be required to report on what they are doing to address and mitigate the identified risks. Failure will lead to fines ranging up to NZ$200,000.
At the outset the proposal sounds similar to Australia’s Modern Slavery Act, but with a significantly lower reporting threshold and financial penalties - creating new legal obligations for a substantial number of businesses on both sides of ‘the Ditch’
Your expert presenters
Luke Geary, Partner, Mills Oakley legal services
Georgia Davis, Lawyer, Mills Oakley
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|Keywords||Modern slavery, NZ Modern Slavery|
|Topic / Interest||Modern Slavery|
|Type||Presentations, Virtual Round-table Recording|