New Public Reporting Obligations for Certain Public and Private Entities Coming Into Force at the End of 2023: Preparing for Supply Chain Management Disclosure

Canada has implemented new laws which come into effect on January 1, 2024 that will impact certain businesses engaged in producing, selling or distributing goods in Canada or elsewhere, or importing into Canada goods produced outside Canada (including for their own use in their business). The rules are broadly drafted and will be effective across numerous industries.  Entities with a connection to Canada or that are doing business in Canada will need to determine in the near term whether the public reporting obligations will apply to them in order to take necessary steps to prepare. Those impacted by the new rules must report to the Canadian government annually, on or before May 31st starting in 2024. In addition, they must prepare a report that must be made publicly available (e.g., in a prominent place on the businesses website) and shared with shareholders for corporations incorporated under the Canada Business Corporations Act.

Anti-slavery and child labour legislation already exists in the UK and Australia and places an onus on local businesses to examine their supply chains. Bill S-211, An Act to enact the Fighting Against Forced Labour and Child Labour in Supply Chains Act and to amend the Customs Tariff, referred to as Canada’s “Modern Slavery Act” (the Act) is set to come into force on January 1, 2024. The Act creates reporting obligations for a wide range of businesses including many that you would not expect.

Please join us on July 20 to learn more about what Bill S-211 means for your business, including Canadian reporting obligations and disclosure requirements, and legal and reputational risks. The session will also cover steps your business can take to prepare under the new Canadian rules.