‘The Modern Slavery Act 2015 (“MSA”) came into force on 29 October 2015. It seeks to address the growing scourge of forced labour and human trafficking within these shores. It does so by creating various criminal offences in relation to holding another person in
slavery or servitude or requiring them to perform forced labour, and also in relation to the movement of persons with a view to exploiting them. However, MSA also has a broader aim. Part 6 of MSA contains provisions requiring transparency in supply chains. Businesses above a specified level of turnover are required to provide a statement setting out the steps taken in the course of a financial year to ensure that slavery and human trafficking is not taking place in any of its supply chains.’
11 KBW, 14th August 2017
Source: www.11kbw.com
