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Law firm dedicated to ensuring compliance with modern slavery laws opens
A law firm which will exclusively provide businesses with multidisciplinary and profitable solutions to comply with the NSW and Commonwealth Modern Slavery acts has opened.
Jerome Doraisamy
Fair Supply, which will be located in Sydney, marks a “significant milestone” for executive director and principal lawyer Kimberly Randle, who said in a statement that she has sought to “create innovative, wholistic solutions to human rights issues within businesses such as modern slavery”.
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The firm is a “first of its kind”, Ms Randle proclaimed.
“[It is] a unique opportunity exists for Australian businesses to lead the global market in incorporating transparency, humanity and acuity into best business practice. The NSW and Commonwealth Modern Slavery acts represent significant governmental leadership in combatting modern slavery,” she said.
The Commonwealth Modern Slavery Act requires businesses and other organisations with a consolidated revenue over $100 million to report annually on the risk of slavery in their operations and supply chains, and the threshold for the NSW Modern Slavery Act is $50 million, she continued.
“They must also speak to the steps they have to address that risk taken and the effectiveness of this response. These statements must be approved by the board or directors or equivalent and signed by a director,” the Fair Supply statement noted.
“Under the Commonwealth Legislation failure to comply may result in the publication of information about the organisations failure to comply including the organisations identity.”
The NSW Modern Slavery Act adds a further punitive element, it continued, with businesses affected by the NSW legislation able to be fined up to $1.1 million for non-compliance.
“Australian businesses now have the opportunity to make good on the leadership exhibited by the government in these acts,” Ms Randle said.
“At Fair Supply, we understand that this leadership will demand wisdom and expertise. Fairness is not charity. It’s just good business.”
