Seyfarth Shaw (UK) LLP:
Draft International Slavery Laws/STT/FT imitative
Table of Contents
Page
1. Germany ................................................................................................................................... 1 2. Canada ...................................................................................................................................... 1 3. Russia ....................................................................................................................................... 3 4. Holland ...................................................................................................................................... 4 5. Poland ....................................................................................................................................... 5 6. Ireland ....................................................................................................................................... 6 7. Portugal ..................................................................................................................................... 8 8. Greece....................................................................................................................................... 9 9. Turkey ....................................................................................................................................... 9 10. Ukraine .................................................................................................................................... 11 11. Malta ........................................................................................................................................ 11 12. Australia .................................................................................................................................. 14 13. India ......................................................................................................................................... 15 14. Spain ....................................................................................................................................... 16 15. Israel ........................................................................................................................................ 19 16. Denmark ................................................................................................................................. 20 17. Sweden ................................................................................................................................... 21 18. United States of America ..................................................................................................... 22 19. China ....................................................................................................................................... 23 20. Uruguay .................................................................................................................................. 24 21. New Zealand .......................................................................................................................... 25 22. Argentina ................................................................................................................................ 25 23. South Africa ............................................................................................................................ 26 24. Brazil........................................................................................................................................ 27 25. Malaysia .................................................................................................................................. 28 26. Hungary .................................................................................................................................. 31 27. Japan ....................................................................................................................................... 32 i
23049838v.2
Draft laws
1.
GERMANY
Act or Statute: German Commercial Code (HGB)
Section or Paragraph: Section 289 para. 3 German Commercial Code
[Amendment text (English Version):
(3) With regard to large corporations (§ 267 (3)1), (1) sentence 3 applies accordingly to non-financial key performance
indicators such as information about environmental and employee issues to the extent that they are significant for
understanding the course of business or the situation. The non-financial statement must show the risk of slavery
and human trafficking at companies that the corporation within the meaning of sentence 1 commissions with
the provision of work or services and at a sub-contractor's or a company commissioned by the entrepreneur or
a sub-contractor (sub-supplier). It must describe the measures the corporation has taken to prevent and/or
combat slavery and human trafficking in the areas mentioned in sentence 2 and present the results of the
measures taken. If the corporation has not taken any of the measures mentioned in sentence 2, reasons must
be given in the statement.]
Amendment text (in Official Language(s:)
(3) Bei einer großen Kapitalgesellschaft (§ 267 Abs. 32) gilt Absatz 1 Satz 3 entsprechend für nichtfinanzielle
Leistungsindikatoren, wie Informationen über Umwelt- und Arbeitnehmerbelange, soweit sie für das Verständnis des
Geschäftsverlaufs oder der Lage von Bedeutung sind. Die nichtfinanzielle Erklärung muss das Risiko von Sklaverei und
Menschenhandel bei den Unternehmen, die die Kapitalgesellschaft im Sinne des Satz 1 mit der Erbringung von Werkoder Dienstleistungen, beauftragt sowie bei einem Nachunternehmer oder eines von dem Unternehmer oder einem
Nachunternehmer beauftragten Unternehmen (Zulieferer) aufzeigen. Sie muss die Maßnahmen beschreiben, die die
Gesellschaft ergriffen hat, um Sklaverei und Menschenhandel in den in Satz 2 lit a) und b) genannten Bereichen zu
verhindern und/oder zu bekämpfen sowie die Ergebnisse der ergriffenen Maßnahmen darstellen. Hat die Gesellschaft
keine der in Satz 2 genannten Maßnahmen ergriffen, sind Angaben zu den Gründen in die Erklärung aufzunehmen.
2.
CANADA
[Canadian Legislation – Corporate governance guidelines for Canadian public companies are set out in National
Policy 58-201 – Corporate Governance Guidelines (the “Guidelines”) which are intended to provide guidance on
corporate governance practices for public companies which:
•
•
1
achieve a balance between providing protection to investors and fostering fair and efficient capital
markets and confidence in capital markets;
be sensitive to the realities of the greater numbers of small companies and controlled companies in the
Canadian corporate landscape;
This covers companies that meet at least two of the following three criteria: -­‐ Total assets of EUR 20,000,000 -­‐ Sales revenues of EUR 40,000,000 in the twelve months preceding the balance sheet date -­‐ Employment of two hundred and fifty employees on the annual average. 2
Erfasst sind Unternehmen, die mindestens zwei der drei folgenden Merkmale erfüllen: -­‐ 20 000 000 EUR Bilanzsumme. -­‐ 40 000 000 EUR Umsatzerlöse in den zwölf Monaten vor dem Abschlussstichtag -­‐ im Jahresdurchschnitt zweihundertfünfzig Arbeitnehmer beschäftigen. 23049838v.2
•
•
take into account the impact of corporate governance developments in the U.S. and around the world;
and
recognize that corporate governance is evolving.
These Guidelines are reflected in the corporate governance disclosure required of Canadian public companies in the
form requirements of the annual management information circular (the “Proxy Circular”) used for soliciting proxies from
shareholders. The Proxy Circular is filed with regulators and is available on line part of the company’s public record and
is typically available on the company’s investor page on its website.
Code of Business Conduct and Ethics – The Guidelines currently provide that the board should adopt a written code
of business conduct and ethics (a “Code”) which should be applicable to directors, officers and employees of the
company. The Code should constitute written standards that are reasonably designed to promote integrity and to deter
wrongdoing. It is also typically made available on the company’s investor page on its website. In particular, the Code
should address the following issues:
(a) conflicts of interest, including transactions and agreements in respect of which a director or executive officer
has a material interest;
(b) protection and proper use of corporate assets and opportunities;
(c) confidentiality of corporate information;
(d) fair dealing with the issuer’s security holders, customers, suppliers, competitors and employees;
(e) compliance with laws, rules and regulations; and
(f) reporting of any illegal or unethical behaviour.
In order to incorporate supply chain transparency provisions similar to those in section 54 of the Modern Slavery Act
2015 (UK) changes should be made to the Guidelines to ensure that boards include a clean supply chain as part of its
Code.] The list in section 3.8 of the Corporate Governance Guidelines (National Policy 58-201) Guidelines be expanded
to include the following:
“(g) ensure that its business operations, and its supply chain, are free from slavery and human trafficking.”
[Enhanced Transparency Statement – The form requirements for the Proxy Circular currently require that a
statement be included regarding whether or not the board has adopted a Code. If the board has adopted a Code the
company must describe how the board monitors compliance with its Code, or if the board does not monitor compliance,
explain whether and how the board satisfies itself regarding compliance with its Code. If the Guidelines are changed as
contemplated above and the Code addresses supply chain integrity, the Company’s supply chain practices should be
addressed in this general comply or explain disclosure.
However, in addition to this general disclosure, in order to
achieve similar disclosure to the transparency statement contemplated in section 54 of the Modern Slavery Act (UK) we
would propose that] An enhanced disclosure requirement should be added to the Proxy Circular specifically related to
the Code of Business Conduct and Ethics as it applies to supply chain, slavery and human trafficking as follows:
Policies Regarding Supply Chain, Slavery and Human Trafficking
(a) Disclose whether the issuer has adopted a written policy to ensure that its business operations, and its
supply chain, are free from slavery and human trafficking. If the issuer has not adopted such a policy, disclose
why it has not done so.
(b) If an issuer has adopted a policy referred to in (a), disclose the following in
respect of the policy:
(i) a short summary of its objectives and key provisions,
(ii) the measures taken to ensure that the policy has been effectively
2
23049838v.2
implemented,
(iii) annual and cumulative progress by the issuer in achieving the
objectives of the policy, and
(iv) whether and, if so, how the board measures the effectiveness of the policy.
[With these changes outlined above we believe that Canadian public company disclosure requirements would be
substantially similar regarding supply chain, slavery and human trafficking to those contemplated by the section 54 of
the Modern Slavery Act (UK).]
3.
RUSSIA
(1) Act or Statute
Federal Law #14-FZ on Limited Liability Companies dated 8 February 1998 (as amended)
Section or paragraph
Article 36 item 3.
[Amended Text (English)]
[The initial part of the text in item 3 should be replaced with the following wording:]
“The information and materials to be disclosed to the participants of the company in preparation for the general meeting
of participants of the company shall include the annual report of the company, which shall contain, among other
provisions, the summary of measures taken to monitor human rights compliance and identify human rights risk in the
activities of the company, …”.]
Amended Text (Russian)
«К информации и материалам, подлежащим предоставлению участникам общества при подготовке общего
собрания участников общества, относятся годовой отчет общества, который, помимо прочего, должен
содержать краткое описание принимаемых мер по контролю над соблюдением прав человека и по выявлению
рисков нарушения прав человека в деятельности Общества…»
(2) Act or Statute
Federal Law #208-FZ on Joint-Stock Companies dated 26 December 1995 (as amended)
Section or paragraph
Article 52 item 3.
[Amended Text (English)
[The initial part of the text in item 3 of article 56 should be replaced with the following wording:]
“The information (materials) to be provided to the persons that are entitled to participate in the general meeting of
shareholders, in preparation for the general meeting of shareholders of the company shall include the annual report of
the company, which shall contain, among other provisions, the summary of measures taken to monitor human rights
compliance and identify human rights risk in the activities of the company, …”.]
Amended Text (Russian)
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23049838v.2
«К информации (материалам), подлежащей предоставлению лицам, имеющим право на участие в общем
собрании акционеров, при подготовке к проведению общего собрания акционеров общества относятся годовой
отчет общества, который, помимо прочего, должен содержать краткое описание принимаемых мер по контролю
над соблюдением прав человека и по выявлению рисков нарушения прав человека в деятельности
Общества…».
(3) Act or Statute
Regulations on Information Disclosure by Issue-grade Securities Issuers (approved by the Bank of Russia on 30
December 2014, No. 454-P)
Section or paragraph
Article 70.3
[Amended Text (English)
[the text below needs to be added to the list of information to be included to the annual report of a joint-stock company ]
“Summary of measures taken to monitor human rights compliance and identify human rights risk in the activities of the
Company”.]
Amended Text (Russian)
«Краткое описание принимаемых мер по контролю над соблюдением прав человека и по выявлению рисков
нарушения прав человека в деятельности Общества.»
(4) In addition, special section on the recommended procedures on monitoring human rights compliance and human
rights risk for public joint-stock companies the shares and other issue-grade securities of which are publicly traded
could be added to the Code of Corporate Governance (recommended by the Bank of Russia as per the Letter #0652/2463 as of 10 April 2014).
4.
HOLLAND
[[As in most jurisdictions, a Dutch company should draw up financial statements after the end of each financial year.
The financial statements consist of the annual accounts and the annual report and should be approved by the
shareholders and published with the Dutch trade register. Pursuant to Dutch accounting rules contained in the Dutch
Civil Code, the annual report must, amongst others, provide for a full and correct analyses of the state of the company.
In addition, the relevant provision in the Dutch Civil Code concerning the requirements for the annual report states that
“further rules regarding the content of the annual report may be laid down pursuant to a governmental decree.” We
could therefore propose that a governmental decree should be issued along the lines of the sentence that was included
in your letter. However, more appropriate and realistic would be to start with a requirement for listed companies in The
Netherlands that often operate on a global scale. Dutch listed companies need to adhere to the Dutch Corporate
Governance Code (the “DCGC”) on a ‘comply or explain’ basis. The DCGC is widely accepted as the standard for
corporate governance for listed companies, but also for large privately and state owned large companies and has been
granted a statutory basis pursuant to a governmental degree as referred to above. The DCGC requires that corporate
social responsibility issues that are relevant to the company should be addressed in the annual report. In our view, a
first preliminary but important step could be to extend this provision in order to make sure that it also covers the issue of
human rights in the global supply chain of the company.]]
Act or statute:
Dutch Corporate Governance Code (Nederlandse Corporate Governance Code)
Section:
Best practice provision II.1.2
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23049838v.2
[Amended text (English version)
The management board shall submit to the supervisory board for approval:
a.
the operational and financial objectives of the company;
b.
the strategy designed to achieve the objectives;
c.
the parameters to be applied in relation to the strategy, for example in respect of the financial ratios;
and
d.
corporate social responsibility issues that are relevant to the enterprise, including a summary of
measures taken to monitor human rights compliance and identifying human rights risk in the global supply chain
of the Company.
The main elements shall be mentioned in the annual report.]
Amended text (Dutch language)
Het bestuur legt ter goedkeuring voor aan de raad van commissarissen:
a.
de operationele en financiële doelstellingen van de vennootschap;
b.
de strategie die moet leiden tot het realiseren van de doelstellingen;
c.
de randvoorwaarden die bij de strategie worden gehanteerd, bijvoorbeeld ten aanzien van de
financiële ratio’s; en
d.
de voor de onderneming relevante maatschappelijke aspecten van ondernemen, inclusief een
samenvatting van de genomen maatregelen op het gebied van naleving van mensenrechten en risico’s van
schending van mensenrechten in de wereldwijde keten van toeleveranciers van de onderneming.
De hoofdzaken hiervan worden vermeld in het jaarverslag.
5.
POLAND
In the case of companies, companies limited by shares, mutual insurance companies, reinsurers mutual cooperatives,
state-owned enterprises, as well as those of partnerships and limited partnerships, where all members having unlimited
liability company with share capital, limited joint-stock or companies from other Member with a similar legal form of the
companies whose annual turnover exceeds the amount specified in separate regulations, a report on the activities
should include a statement of the company relating to human trafficking activities indicating that the company has made
in the financial year, within its own organization to prevent human trafficking.
Act or Statute
Ustawa z dnia 29 września 1994 r. o rachunkowości
(Dz.U.2013.330 j.t.)
The Accounting Act of 29 September 1994 (Journal of
Laws 2013.330, as amended)
Section or Paragraph
Art. 49 ust. 2b
Article 49, section 2b
Text
W przypadku spółek kapitałowych, spółek
In the case of limited liability and joint stock
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23049838v.2
komandytowo-akcyjnych, towarzystw ubezpieczeń
wzajemnych, towarzystw reasekuracji wzajemnej,
spółdzielni, przedsiębiorstw państwowych, a także
tych spółek jawnych i komandytowych, których
wszystkimi wspólnikami ponoszącymi nieograniczoną
odpowiedzialność są spółki kapitałowe, spółki
komandytowo-akcyjne lub spółki z innych państw o
podobnej do tych spółek formie prawnej, których obrót
roczny przekracza kwotę określoną w odrębnych
przepisach, sprawozdanie z działalności powinno
zawierać również oświadczenie spółki dotyczące
handlu ludźmi wskazujące czynności, jakie spółka
podjęła w roku finansowym, w ramach własnej
organizacji oraz w ramach sieci dostawców, aby
zapobiec handlowi ludźmi.
6.
companies, limited joint-stock partnerships, mutual
insurance companies, mutual reinsurance companies,
co-operatives, state-owned enterprises, as well as
general partnerships and limited partnerships where
the partners with unlimited liability are limited liability
companies, joint stock or limited joint-stock
companies or companies based in other counties that
have similar legal form, with a total year-on-year
turnover in an amount specified in separate
provisions, the annual report should also include a
human trafficking statement which outlines the steps
that the company has taken during the financial year
to ensure that human trafficking is not taking place
within its organisation or its supply chain.
IRELAND
Act or Statute: the Companies Act 2014
Section or Paragraph: Section 225
http://www.irishstatutebook.ie/eli/2014/act/38/section/225/enacted/en/html
Amendment text (English version/in Official Language)
Directors' compliance statement and related statement
225. (1) In this section—
“amount of turnover” and “balance sheet total” have the same meanings as they have in section 350 ;
“relevant obligations”, in relation to a company, means the company's obligations under—
(a) this Act, where a failure to comply with any such obligation would (were it to occur) be—
(i) a category 1 offence or a category 2 offence; or
(ii) a serious Market Abuse offence or a serious Prospectus offence;
And
(c) responsible business operating practices;
“responsible business operating practices”, in relation to a company, means the company's practices and measures
taken to monitor human rights compliance and to identify human rights risks in the global supply chain of the company;
“serious Market Abuse offence” means an offence referred to in section 1368 ;
“serious Prospectus offence” means an offence referred to in section 1356 ;
“tax law” means—
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23049838v.2
(a)
the Customs Acts;
(b)
the statutes relating to the duties of excise and to the management of those duties;
(c)
the Tax Acts;
(d)
the Capital Gains Tax Acts;
(e)
the Value-Added Tax Acts;
(f)
the Capital Acquisitions Tax Consolidation Act 2003 and the enactments amending or extending that
Act;
(g)
the Stamp Duties Consolidation Act 1999 and the enactments amending or extending that Act; and
(h)
any instruments made under an enactment referred to in any of paragraphs (a) to (g) or made under
any other enactment and relating to tax.
(2) The directors of a company to which this section applies shall also include in their report under section 325 a
statement—
(a) acknowledging that they are responsible for securing the company's compliance with its relevant obligations; and
(b) with respect to each of the things specified in subsection (3), confirming that the thing has been done or, if it has not
been done, specifying the reasons why it has not been done.
(3) The things mentioned in subsection (2)(b) are—
(a)
the drawing up of a statement (to be known, and in this Act referred to as, a “compliance policy
statement”) setting out the company's policies (that, in the directors' opinion, are appropriate to the company)
respecting compliance by the company with its relevant obligations;
(b)
the putting in place of appropriate arrangements or structures that are, in the directors' opinion,
designed to secure material compliance with the company's relevant obligations; and
(c)
the conducting of a review, during the financial year to which the report referred to in subsection (2)
relates, of any arrangements or structures referred to in paragraph (b) that have been put in place.
(4) The arrangements or structures referred to in subsection (3)(b) may, if the directors of the company in their
discretion so decide, include reliance on the advice of one or more than one person employed by the company or
retained by it under a contract for services, being a person who appears to the directors to have the requisite
knowledge and experience to advise the company on compliance with its relevant obligations.
(5) For the purposes of this section, the arrangements or structures referred to in subsection (3)(b) shall be regarded as
being designed to secure material compliance by the company concerned with its relevant obligations if they provide a
reasonable assurance of compliance in all material respects with those obligations.
(6) If default is made in complying with subsection (2), each director to whom the default is attributable shall be guilty of
a category 3 offence.
(7) Subject to subsection (8), this section shall apply to a company if, in respect of the financial year of the company to
which the report referred to in subsection (2) relates—
(a) its balance sheet total for the year exceeds—
(i) subject to subparagraph (ii), €12,500,000; or
(ii) if an amount is prescribed under section 943 (1)(i), the prescribed amount;
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23049838v.2
and
(b) the amount of its turnover for the year exceeds—
(i) subject to subparagraph (ii), €25,000,000; or
(ii) if an amount is prescribed under section 943 (1)(i), the prescribed amount.
(8) This section does not apply to any company that is of a class exempted under section 943 (1)(g) from this section.
7.
PORTUGAL
i. [Article 66 of the Companies Code [Decree-Law 262/86, dated 2 September 1986, as amended] sets
the info that must be included in the annual Management Report.
ii. The Management Report is signed by all the directors of the company and submitted for analysis to
the shareholders within 3 months of the year end (as per article 65 of the Companies Code).
iii. Presently it is not mandatory to include a reference to human rights. We would suggest to include a
new article 66 (5)(i).]
Artigo 66.º of the Companies Code (Decree-Law 262/86, dated 2 September 1986),
Relatório de gestão
1 - O relatório da gestão deve conter, pelo menos, uma exposição fiel e clara da evolução dos negócios, do
desempenho e da posição da sociedade, bem como uma descrição dos principais riscos e incertezas com que a
mesma se defronta.
2 - A exposição prevista no número anterior deve consistir numa análise equilibrada e global da evolução dos
negócios, dos resultados e da posição da sociedade, em conformidade com a dimensão e complexidade da sua
actividade.
3 - Na medida do necessário à compreensão da evolução dos negócios, do desempenho ou da posição da sociedade,
a análise prevista no número anterior deve abranger tanto os aspectos financeiros como, quando adequado,
referências de desempenho não financeiras relevantes para as actividades específicas da sociedade, incluindo
informações sobre questões ambientais e questões relativas aos trabalhadores.
4 - Na apresentação da análise prevista no n.º 2 o relatório da gestão deve, quando adequado, incluir uma referência
aos montantes inscritos nas contas do exercício e explicações adicionais relativas a esses montantes.
5 - O relatório deve indicar, em especial:
(a)
A evolução da gestão nos diferentes sectores em que a sociedade exerceu actividade,
designadamente no que respeita a condições do mercado, investimentos, custos, proveitos e actividades de
investigação e desenvolvimento;
(b)
Os factos relevantes ocorridos após o termo do exercício;
(c)
A evolução previsível da sociedade;
(d)
O número e o valor nominal ou, na falta de valor nominal, o valor contabilístico das quotas ou ações
próprias adquiridas ou alienadas durante o período, a fração do capital subscrito que representam, os motivos
desses atos e o respetivo preço, bem como o número e valor nominal ou contabilístico de todas as quotas e
ações próprias detidas no fim do período;
(e)
As autorizações concedidas a negócios entre a sociedade e os seus administradores, nos termos do
artigo 397.º;
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23049838v.2
(f)
Uma proposta de aplicação de resultados devidamente fundamentada.
(g)
A existência de sucursais da sociedade.
(h)
Os objectivos e as políticas da sociedade em matéria de gestão dos riscos financeiros, incluindo as
políticas de cobertura de cada uma das principais categorias de transacções previstas para as quais seja
utilizada a contabilização de cobertura, e a exposição por parte da sociedade aos riscos de preço, de crédito,
de liquidez e de fluxos de caixa, quando materialmente relevantes para a avaliação dos elementos do activo e
do passivo, da posição financeira e dos resultados, em relação com a utilização dos instrumentos financeiros.
6 - Ficam dispensadas da obrigação de elaborar o relatório de gestão as microentidades, tal como definidas no n.º 1 do
artigo 9.º do Decreto-Lei n.º 158/2009, de 13 de julho, alterado pela Lei n.º 20/2010, de 23 de agosto, pelo Decreto-Lei
n.º 36-A/2011, de 9 de março, e pelas Leis n.os 66-B/2012, de 31 de dezembro, e 83-C/2013, de 31 de dezembro,
desde que procedam à divulgação, quando aplicável, no final do balanço, das informações mencionadas na alínea d)
do n.º 5 do presente artigo.
8.
GREECE
Act or Statute: Law 2190/1920 (on Societe Anonyme Companies as amended and codified)
Section or paragraph: Article 43a (Content of the addendum and the management report of the BoD), paragraph 3,
subparagraph b, addition of a new subparagraph ee
[Amendment text (English version):
Article 43a) […]
3) […]
b) Additionally, in the annual management report there are mentioned:
[….]
ee) A summary of the measures taken by the company to monitor human rights compliance and identify human rights
risk in the global supply chain of the company.]
Amendment text (Greek version):
Άρθρο 43α) [….]
3) [….]
β) Επιπλέον, στην Έκθεση διαχείρισης αναφέρονται:
[….]
εε) Μια συνοπτική καταγραφή των µέτρων που έχουν ληφθεί από την εταιρεία για τον έλεγχο της συµµόρφωσης προς τα
ανθρώπινα δικαιώµατα και για την ανίχνευση κινδύνων για τα ανθρώπινα δικαιώµατα στην παγκόσµια αλυσίδα
εφοδιασµού της εταιρείας.
9.
TURKEY
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23049838v.2
Act or Statute:
6102 sayılı Türk Ticaret Kanunu / Turkish Commercial Code numbered 6102
Section or Paragraph:
MADDE 516 / ARTICLE 516
[Amendment text (English version):
Annual activity report of the board of directors
ARTICLE 516:
(1)
Board of Directors’ annual activity report should state the company’s flow of activity in that year and give
correct, complete, true and actual details of the company’s financial conditions in a proper and honest
manner. This report evaluates the financial status on the basis of financial tables. This report also clearly
states the corporate development and possible risks to be suffered by the company. The comments of
the board of directors on such matters shall also be stated on this report.
(2)
The Board of Directors’ activity report should also include the following items:
a)
Materially important incidents took place at the company following the end of activity year.
b)
Company’s research and development activities.
c)
Monetary benefits paid to the board of directors’ members and senior executives such as fees,
premiums and bonus, allowances, travelling, accommodation and hosting expenses, real and cash
benefits, insurances and such rights.
(3)
Minimum content requirements of any annual activity report, issued either by a joint stock company or
group of companies, are subject to a “Implementing Regulation” issued by the Ministry of Customs and
Commerce.”
(4)
In addition to the information outlined in paragraph two above, companies which are subject to
independent external audit under the Council of Minister’s Decision based on Article 398(4), must also
include in the annual activity report a summary of the policies and measures taken regarding human
rights risks identified in terms of slavery and human trafficking, including activities by real persons and
legal entities within the Company’s supply chain. Information should also address measures taken by the
Company to prevent and mitigate these risks, including but not limited to trainings, due diligence,
policies, disclosures and audit activities undertaken by entities within the Company’s direct control, as
well as information about measures taken regarding unrelated entities which the Company interacts with
in any manner. Provisions of Article 553 regarding the Board Members’ liabilities and Article 554
regarding the Auditors’ Liabilities are reserved in terms of the scope, reality, expediency, transparency,
and auditing of the summary.]
Amendment text (in Turkish):
Yönetim kurulunun yıllık faaliyet raporu
MADDE 516:
(1)
Yönetim kurulunun yıllık faaliyet raporu, şirketin, o yıla ait faaliyetlerinin akışı ile her yönüyle finansal
durumunu, doğru, eksiksiz, dolambaçsız, gerçeğe uygun ve dürüst bir şekilde yansıtır. Bu raporda finansal
durum, finansal tablolara göre değerlendirilir. Raporda ayrıca, şirketin gelişmesine ve karşılaşması muhtemel
risklere de açıkça işaret olunur. Bu konulara ilişkin yönetim kurulunun değerlendirmesi de raporda yer alır.
(2)
Yönetim kurulunun faaliyet raporu ayrıca aşağıdaki hususları da içermelidir:
10
23049838v.2
a) Faaliyet yılının sona ermesinden sonra şirkette meydana gelen ve özel önem taşıyan olaylar.
b) Şirketin araştırma ve geliştirme çalışmaları.
c) Yönetim Kurulu üyeleri ile üst düzey yöneticilere ödenen ücret, prim, ikramiye gibi mali menfaatler,
ödenekler, yolculuk, konaklama ve temsil giderleri, ayni ve nakdî imkânlar, sigortalar ve benzeri
teminatlar.
(3)
Hem anonim şirketler hem de şirketler topluluğu bakımından, yönetim kurulunun yıllık faaliyet
raporunun zorunlu asgari içeriği, ayrıntılı olarak Sanayi ve Ticaret Bakanlığı tarafından bir yönetmelikle
düzenlenir.
(4)
Yukarıda 2’nci fıkrada sayılan hususlara ek olarak; 398’nci maddenin dördüncü fıkrası uyarınca
Bakanlar Kurulu Kararı ile bağımsız denetime tabi olan şirketlerin faaliyet raporunda, ilgili şirketin tedarik
zincirinde yer alan gerçek ve tüzel kişilerin faaliyetleri de göz önünde bulundurulmak üzere, kölelik ve insan
ticareti kaynaklı insan hakları ihlallerinin engellenmesi için şirket tarafından alınan önlem ve uygulanan
politikaların özeti de yer alacaktır. Bu kapsamda, olası ihlalleri önlemek ve/veya en aza indirgemek için, verilen
eğitimler, yapılan detaylı incelemeler, kabul edilen Şirket politikaları, bildirim ve denetim faaliyetleri de dâhil
olmak ancak bunlarla sınırlı olmamak üzere, Şirket ve Şirket’in doğrudan kontrolu altında bulunan tüzel
kişiliklerce alınan tüm önlemler ile Şirket ile ilişkisi olmayan fakat herhangi bir şekilde etkileşimde bulunduğu
diğer tüzel kişiliklerce alınan önlemlere dair bilgi de özette yer almalıdır. Bu fıkra kapsamında hazırlanacak
özetin kapsamı, doğruluğu, amaca elverişliliği, şeffaflığının sağlanması ve denetlenmesine ilişkin olarak,
yönetim kurulu üyelerinin sorumluluğuna dair 553’üncü ve denetçilerin sorumluluğunu düzenleyen 554’üncü
madde hükümleri saklıdır.
10.
UKRAINE
Act or Statute:
the Commercial Code of Ukraine as of January 16, 2003
Section or Paragraph:
Section II
Chapter 7
Article 69. Social activity of the company
[Amended text (English version):
To add clause 9 as follows:
“Executive body of the company is obliged to report to shareholders on summary of measures taken to monitor human
rights compliance and identify human rights risk in the global supply chain of the company”]
Amended text (Ukrainian version):
Додати пункт 9 такого змісту:
«Органи управління підприємства зобов’язані надавати власникам звіт, який повинен включати перелік заходів з
моніторингу дотримання прав людини та виявлення можливих загроз їх порушення у всесвітній мережі
постачальників підприємства»
11.
MALTA
11
23049838v.2
A BILL
Entitled
AN ACT to amend the Companies Act, Cap. 386.
1. (1) The title of these regulations is the Companies Act (Transparency in
Supply Chains) Regulations.
Citation and
Commencement
(2) These regulations shall come into force on the ●.
2. In this regulations, unless the context otherwise requires –
“the Act” means the Companies Act;
"commercial organisation" means a commercial partnership which supplies any
goods or services and conducts its business or part of its business in Malta.
Interpretation.
Cap. 386.
“the Minister” means, unless otherwise stated, the Minister responsible for the
registration of commercial partnerships;
“slavery and human trafficking” means conduct which constitutes an offence
under any of the following:
(i) Article 54C (2)(c) of the Criminal Code;
(ii) Article 248A (1) and (2) of the Criminal Code;
(iii) Article 248E (1) of the Criminal Code;
(iv) First Schedule Article 7 of the International Criminal Court Act.
“slavery and human trafficking statement” means a statement issued by a
commercial organisation for each financial year wherein the commercial
organisation shall:
a.
disclose the steps the commercial organisation has taken
during the financial year to ensure that slavery and human trafficking is
not taking place in:
(i) in any of its supply chains, and
(ii) in any part of its own business; or
b.
disclose that the commercial organisation has not taken any
such steps during the financial year.
3. (1) Unless the context otherwise requires, and subject to the provisions
of these regulations, these provisions shall apply to commercial
organisations who supply goods or services, and have a total turnover of not
less than ●.
4. A commercial organisation shall prepare a slavery and human trafficking
statement for each financial year.
5. Each slavery and human trafficking statement issued by a commercial
organisation shall include information relating to:
(a) the structure, business and supply chains of the commercial
organisation;
(b) its policies in relation to slavery and human trafficking;
(c) its due diligence processes in relation to slavery and human trafficking in
its business and supply chains;
(d) the parts of its business and supply chains where there is a risk of
slavery and human trafficking taking place, and the steps it has taken to
12
23049838v.2
Cap. 9.
Cap. 9.
Cap. 9.
Cap. 453.
Application of the
Rules.
Duties of a
commercial
organisation.
Contents of
statement.
assess and manage that risk;
(e) its effectiveness in ensuring that slavery and human trafficking is not
taking place in its business or supply chains, measured against such
performance indicators as it considers appropriate;
(f) the training about slavery and human trafficking available to its staff.
6. In the event a commercial organisation operates or controls a website,
the commercial organisation shall:
(a) publish the slavery and human trafficking statement on any website the
commercial organisation operates or controls; and
Publication of
Statement.
(b) include a link to the slavery and human trafficking statement in a
prominent place on the homepage of any website the commercial
organisation operates or controls.
Provided that, if the commercial organisation does not operate and/or
control any website, it shall provide a copy of the slavery and human
trafficking statement, either in physical or readable electronic form, to the
Registrar or to any person making a written request within thirty (30 days)
from receipt of such request.
7. (1) If default is made in complying with the provisions of these
regulations the commercial organisation and every officer of the commercial
organisation shall be jointly and severally liable to a penalty of not more than
two thousand three hundred euro (€2,300) and, where applicable, to a
further penalty of fifty euro (€50) for every day during which the default
continues.
(2) Without prejudice to any other penalties provided in terms of these
regulations or by law, the Registrar shall have the power to publish in the
Gazette and/or on a website maintained by the Registrar the name of any
commercial organisation failing to comply with the provisions of regulation 6
of these regulations.
Penalty and
publication of
non-compliant
commercial
organisations
Offences
Power to issue
guidelines.
BE IT ENACTED by the President, by and with the advice and consent of the House of Representatives in this present
Parliament assembled, and by the authority of the same as follows: Short title.
1. The short title of this Act is the Companies Act (Amendment) Act, 2015 and it shall be read and construed as one
with the Companies Act, hereinafter referred to as "the principal Act".
Addition of
2. Sub-article (1) of article 425 of the Act shall be amended as follows:
new paragraph to the principle
13
23049838v.2
(a) paragraph (n) thereof shall be renumbered as paragraph (o); and
act.
(b) immediately after paragraph (m) there shall be added the following new
paragraph:
“(n) prescribe the necessary reporting requirements in relation to the transparency of a company’s supply
chain in order to comply with provisions relating to human rights and conditions and to authorise the Registrar
to issue such guidelines as the Minister may deem appropriate for the proper implementation of such reporting
requirements.”
Objects and Reasons
The objects and reasons of this Bill is the amendment to the Companies Act for the purpose of explicitly addressing
modern day slavery within the corporate industry, to further safeguard employees’ rights, and to safeguard human
rights.
SUBSIDIARY LEGISLATION ●
COMPANIES ACT (TRANSPARENCY IN SUPPLY CHAINS) REGULATIONS
(●, 201●)
LEGAL NOTICE ● of 201●
IN exercise of the powers conferred by article 425 and 426 of the Companies Act the Minister responsible for
registration of commercial partnerships, has made the following regulations:-
12.
AUSTRALIA
Act or Statute:
Corporations Act 2001 (Cth)
Section or Paragraph:
Proposed new section 299(1)(g)
Amendment text
The directors’ report for a financial year must:
…
(g) give details of the measures taken by the entity during the year to:
(i) monitor labour standards, social and ethical issues including human rights compliance, in respect of the
operations of the entity; and
(ii) identify human rights risks (including slavery and human trafficking) in the supply chain of the entity
regardless of the jurisdiction in which any supplier in that chain is incorporated, registered or trading.
14
23049838v.2
13.
INDIA
#
Name of Statute
Relevant provisions
Amendment text (English version)
1.
Companies Act,
2013 and the
Companies
(Accounts) Rules,
2014
Section 134 of the
Companies Act;
In Section 134 of the Companies Act, 2013, the
following provision shall be added as Section 134
(3)(q):
Rule 8 of the Companies
(Accounts) Rules, 2014
“a summary of measures taken to monitor human
rights compliance and identify human
rights risk in the global supply chain of the company”
Applicable only to
companies
incorporated under
the Companies Act,
2013/1956
In Rule 8 of the Companies (Accounts) Rules, 2014 the
following provision shall be added as Rule 8 (3) (D):
“(D) Slavery, bonded labour, human trafficking and
human rights
(i)
statement of the steps the
organisation has taken during the financial
year to ensure that slavery, bonded labour
and human trafficking is not taking place (a)
in any of its supply chains, and (b) in any part
of its own business;
(ii)
policies to monitor human rights
compliance and identify human rights risks,
within the organisation, and global supply
chain; and
(iii)
other steps adopted by the
organisation in this respect.”
2.
Securities and
Exchange Board of
India (Listing
Obligations and
Disclosure
Requirements)
Regulations, 2015
Business responsibility
report under Regulation
34 of the Securities and
Exchange Board of India
(Listing Obligations and
Disclosure
Requirements)
Regulations, 2015
State-specific
legislation applicable
to shops and
commercial
establishments.
“6. Has the Company taken any steps during the year
to ensure that slavery, bonded labour and human
trafficking is not taking place (a) in any of its supply
chains, and (b) in any part of its own business? If yes,
please list the steps taken.
7. Does the Company have any policies to monitor
human rights compliance and identify human rights
risks, within the organisation, and global supply chain?”
Applicable only to
companies whose
shares are listed on
a recognized stock
exchange in India.
3.
In Section E of the Business Responsibility Report, the
following provisions shall be added after point 5:
The legislation are state
specific and the
amendments will need to
be passed by the
respective state
legislature.
The following disclosure requirement may be included
in the annual report/return to be filed under the statute:
“Slavery, bonded labour, human trafficking and human
rights
(i)
statement of the steps the employer
has taken during the year to ensure that
slavery, bonded labour and and human
Applicable to shops
15
23049838v.2
and commercial
establishments.
trafficking is not taking place (a) in any of its
supply chains, and (b) in any part of its own
business;
(ii)
employer’s policies to monitor human
rights compliance and identify human rights
risks, within the shop or establishment, and
global supply chain; and
(iii)
other steps adopted by the employer
in this respect.”
4.
Factories Act, 19483
Applicable only to
factories (where
manufacturing
processes are
undertaken.)
While this is a central
legislation, the
disclosure formats and
requirements are
prescribed by the state
legislature.
The following disclosure requirement may be included
in the annual report/return to be filed under the statute:
“Slavery, bonded labour, human trafficking and human
rights
(i)
statement of the steps the employer
has taken during the financial year to ensure
that slavery, bonded labour and human
trafficking is not taking place (a) in any of its
supply chains, and (b) in any part of its own
business;
(ii)
employer’s policies to monitor human
rights compliance and identify human rights
risks, within the factory, and global supply
chain; and
(iii)
other steps adopted by the employer
in this respect.”
14.
SPAIN
Act or Statute:
§
Real Decreto Legislativo 1/2010, de 2 de julio, por el que se aprueba el texto refundido de la Ley de
Sociedades de Capital
Section or Paragraph:
Título VII; Capítulo III; Artículo 262.
§
[Amendment text (English version:)
Article 262. Content of the annual management report.
3
[[ In addition, we can consider adding similar provisions to sector / industry specific labour legislation such as Building and Other Construction Workers’ (Regulation of Employment and Conditions of Service) Act, 1996, Dock Workers (Regulation of Employment) Act, 1948, Employment of Manual Scavengers and Construction of Dry Latrines (Prohibition) Act, 1993, Inter-­‐
State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, 1979, Mines Act, 1952, Motor Transport Workers Act, 1961, Plantation Labour Act, 1951, Sales Promotion Employees (Condition of Service) Act, 1976 and Working Journalists and Other Newspaper Employees (Condition of Service) and Miscellaneous Provisions Act, 1955. Also, similar provisions may be added to license issued to a contractor under the Contract Labour (Regulation and Abolition) Act, 1970. ]] 16
23049838v.2
1. The annual report shall contain an accurate description of the company’s business development and state of the
art,
along
with
a
description
of
the
principal
risks
and
uncertainties
that
it
faces.
The description shall consist of a balanced and comprehensive analysis of the business development and
performance of the company and its position, taking into account its magnitude and complexity.
To the necessary extent to understand the development, the analysis shall include the evolution, performance or
position of the company, financial key indicators, where appropriate, as also non-financial, which may be relevant
to the particular business activity of the company, including information on environmental issues, employees and
respect for human rights. Companies that may submit abridged profit and loss account should be exempted to
include non-financial information in the annual management report.
When non-financial information is included, the report shall, where appropriate, make reference to the financial
statements.
Companies that cannot submit abridged profit and loss accounts shall indicate in the report the average payment
period to its suppliers; if that average period exceeds the maximum established in the legislation for default, they
should also indicate the measures which will be applied the following year to reduce it to reach such maximum.
2. The report shall also state important events for the company occurred after year-end, the likely future evolution of
the activities in research and development and, in the terms established in this law, the acquisitions of own shares.
3. The annual management report shall include a statement on the respect for human rights within the
organization and supply chains of a company that supply goods or services, provided it has
a.
more than 500 workers, or
b.
an annual global turnover equal or greater than 100 million euros.
A statement on the respect for human rights within the company’s organization and supply chains shall
include information, among others, regarding the following points:
a.
a brief description of the company’s business model, its organization and its supply
chains;
b.
a description of those policies on respect for human rights matters within its
organization and supply chains pursued by the company;
c.
the due diligence and auditing processes carried out to respect human rights within its
organization and supply chains;
d.
the parts of its organization and supply chains where there is a risk of human rights
infringements taking place, and the steps it has taken to assess and manage that risk;
e.
its effectiveness in ensuring that human rights infringements are not taking place in its
organization or supply chains.
Any already in the annual management report mentioned information may not be mentioned again in this
part of it, even though required.
In case the company does not apply any policy regarding respect for human rights within its organization
or supply chains, the annual management report shall provide statement explaining why the company has
taken no such steps.
4. A company which may submit an abridged balance sheet and statement of changes in equity shortcuts are not
required to elaborate an annual management report. In such cases, if the company acquires its own shares or of its
parent company, the information required by the letter d) of Article 148 should be at least included in the memory.
17
23049838v.2
5. Regarding the company’s use of financial instruments, and if appropriate, the assessment of assets, liabilities,
financial position and results, the annual management report should include:
a.
The objectives and policies of financial risk management of the company, including its policy
for hedging each major type of planned transaction for which hedge accounting is used.
b.
The company’s exposure to price, credit, liquidity and cash flow risks.
6. The information contained in the annual management report shall not justify under any circumstances its
absence in the financial statements when such information should be included in it in accordance with the
provisions of the preceding articles and the regulations that developed them.]
Amendment text (in Official Language(s:)
Artículo 262. Contenido del informe de gestión.
1. El informe de gestión habrá de contener una exposición fiel sobre la evolución de los negocios y la situación de
la sociedad, junto con una descripción de los principales riesgos e incertidumbres a los que se enfrenta.
La exposición consistirá en un análisis equilibrado y exhaustivo de la evolución y los resultados de los negocios y
la situación de la sociedad, teniendo en cuenta la magnitud y la complejidad de la misma.
En la medida necesaria para la comprensión de la evolución, los resultados o la situación de la sociedad, este
análisis incluirá tanto indicadores clave financieros como, cuando proceda, de carácter no financiero, que sean
pertinentes respecto de la actividad empresarial concreta, incluida información sobre cuestiones relativas al medio
ambiente, al personal y al respeto de los derechos humanos. Se exceptúa de la obligación de incluir información
de carácter no financiero, a las sociedades que puedan presentar cuenta de pérdidas y ganancias abreviada.
Al proporcionar este análisis, el informe de gestión incluirá, si procede, referencias y explicaciones
complementarias sobre los importes detallados de las cuentas anuales.
Las sociedades que no puedan presentar cuenta de pérdidas y ganancias abreviada deberán indicar en el informe
de gestión el periodo medio de pago a sus proveedores; en caso de que dicho periodo medio sea superior al
máximo establecido en la normativa de morosidad, habrán de indicarse asimismo las medidas a aplicar en el
siguiente ejercicio para su reducción hasta alcanzar dicho máximo.
2. Informará igualmente sobre los acontecimientos importantes para la sociedad ocurridos después del cierre del
ejercicio, la evolución previsible de aquélla, las actividades en materia de investigación y desarrollo y, en los
términos establecidos en esta ley, las adquisiciones de acciones propias.
3. El informe de gestión deberá incluir información sobre el respeto de los derechos humanos dentro de la
estructura organizativa y la cadena de producción de las sociedades que provean bienes o servicios,
siempre y cuando:
a.
Tenga más de 500 trabajadores, o
b.
Tenga una facturación global anual igual o mayor a 100 millones de euros.
La información sobre el respeto de los derechos humanos dentro de la estructura organizativa y la cadena
de producción reflejará, entre otros, los siguientes extremos:
a.
Una breve descripción del modelo de negocio de la sociedad, su estructura
organizativa y cadena de producción;
b.
Las políticas adoptadas en relación con el respeto de los derechos humanos dentro de
la estructura organizativa y la cadena de producción;
18
23049838v.2
c.
Los procesos de comprobación y auditoría efectuados en relación con el respeto de
los derechos humanos dentro de la estructura organizativa o de la cadena de producción;
d.
La identificación de los riesgos de situaciones de vulneración de derechos humanos
dentro de la estructura organizativa o de la cadena de producción y las medidas llevadas a
cabo para paliar tales riesgos;
e.
Los resultados obtenidos a la hora de erradicar las situaciones de vulneración de
derechos humanos en la estructura organizativa o su cadena de producción de la sociedad.
Se podrán omitir aquellos aspectos de contenido mínimo que ya se hayan mencionado en otros apartados
o secciones del informe de gestión.
En caso que la sociedad no aplique ninguna política en relación con el respeto a los derechos humanos
dentro de su estructura organizativa o cadena de producción, el informe de gestión ofrecerá una
explicación motivada al respecto.
4. Las sociedades que formulen balance y estado de cambios en el patrimonio neto abreviados no estarán
obligadas a elaborar el informe de gestión. En ese caso, si la sociedad hubiera adquirido acciones propias o de su
sociedad dominante, deberá incluir en la memoria, como mínimo, las menciones exigidas por la letra d) del artículo
148.
5. Con respecto al uso de instrumentos financieros por la sociedad, y cuando resulte relevante para la valoración
de sus activos, pasivos, situación financiera y resultados, el informe de gestión incluirá lo siguiente:
a.
Objetivos y políticas de gestión del riesgo financiero de la sociedad, incluida la política
aplicada para cubrir cada tipo significativo de transacción prevista para la que se utilice la contabilidad
de cobertura.
b.
La exposición de la sociedad al riesgo de precio, riesgo de crédito, riesgo de liquidez y riesgo
de flujo de efectivo.
6. La información contenida en el informe de gestión, en ningún caso, justificará su ausencia en las cuentas
anuales cuando esta información deba incluirse en éstas de conformidad con lo previsto en los artículos anteriores
y las disposiciones que los desarrollan.
15.
ISRAEL
Act or Statute:
The Israeli Securities Law Regulations (Periodic and Immediate Reports), 1970
Section or Paragraph:
Chapter B: Periodic Report - Date of Filing and Particulars to be Included Therein ("Chapter B").
[Suggested Text (English version):
The following regulation will be included in the Israeli Securities Law Regulations (Periodic and Immediate
Reports) – 1970, under chapter B:
(a) A corporation will attach to its periodic report, a report concerning the prevention of slavery and human
trafficking (the "Annual Report Concerning the Prevention of Slavery and Human Trafficking"), which shall
apply to the annual reporting year:
(b) The Annual Report Concerning the Prevention of Slavery and Human Trafficking shall include, inter alia,
reference to the following matters:
19
23049838v.2
(1)
the corporation's policy in relation to slavery and human trafficking, to the extent the corporation has
adopted such a policy;
(2)
the operations of the corporation, which may involve a risk of slavery and/or human trafficking taking
place, and the measures the corporation has taken to assess and manage the risk of slavery and/or human
trafficking taking place in the course of such activities;
(3)
the measures which have been taken by the corporation during the reporting year in order to ensure
that slavery and human trafficking is not taking place in the course of the corporation's business and
operations;
(4)
the name of, and details regarding the person at the corporation who is responsible for inspecting and
supervising the prevention of slavery and trafficking in the course of the corporation's business and
operations; and
(5)
the frequency of the Board of Directors actual engagement in the matter of the prevention of slavery
and human trafficking in the course of the corporation's business and operations;
(c) The Annual Report Concerning the Prevention of Slavery and Human Trafficking shall be approved by the
corporation's Board of Directors and signed by the corporation’s Chief Executive Officer and by the corporation’s
Chairman of the Board of the Directors.]
Suggested text (In Official Language - Hebrew):
:‫ התקנה הבאה‬1970 ‫ התש"ל‬,(‫תתווסף לתקנות ניירות ערך )דו"חות תקופתיים ומיידיים‬
‫ בדבר מניעת עבדות וסחר בבני אדם )"דוח שנתי בדבר מניעת עבדות וסחר‬,‫( תאגיד יצרף לדוח התקופתי דוח ביחס לשנת הדיווח‬1)
.("‫בבני אדם‬
:‫ התייחסות לעניינים הבאים‬,‫ בין היתר‬,‫( בדוח השנתי בדבר מניעת עבדות וסחר בבני אדם תובא‬2)
;‫ ככל שקיימת כזו בתאגיד‬,‫( תפורט מדיניות התאגיד בקשר עם מניעת עבדות וסחר בבני אדם‬1)
‫ וכן לצעדים בהם נוקט‬,‫או סחר בבני אדם‬/‫(יינתן גילוי באשר לפעילויות של התאגיד אשר קיים ביחס אליהן חשש לקיום עבדות ו‬2)
;‫או סחר בבני אדם במסגרת הפעילויות האמורות‬/‫התאגיד במטרה למזער את את הסיכון להיווצרות עבדות ו‬
‫או סחר בבני אדם במסגרת‬/‫(יפורטו האמצעים שנקט התאגיד במהלך שנת הדיווח על מנת להבטיח שלא מתקיימים עבדות ו‬3)
;‫ יכלול הדוח הצהרה לפיה התאגיד לא נקט באמצעים כאמור‬,‫ לחלופין‬.‫פעילותו ועסקיו‬
‫(יינתן גילוי בדבר זהות ופרטי הממונה בתאגיד על ביצוע בדיקות ופיקוח בעניין עבדות וסחר בבני אדם במסגרת פעילותו ועסקיו‬4)
;‫של התאגיד‬
;‫(יינתן גילוי בדבר תדירות ההתייחסות בפועל של דירקטוריון התאגיד לסוגיות של מניעת עבדות וסחר בבני אדם בתאגיד‬5)
‫( הדוח השנתי בדבר מניעת עבדות וסחר בבני אדם יאושר על ידי דירקטוריון החברה וייחתם על ידי מנכ"ל החברה וכן על ידי יו"ר‬3)
.‫דירקטוריון החברה‬
(4)
16.
DENMARK
Act or Statute:
The Danish Financial Statements Act (in Danish: ‘Årsregnskabsloven’)
[Amendment text (English version:)
“Section 99a (2)
[…]
20
23049838v.2
(v.) As for human rights, cf. (ii), the undertaking must disclose information on what measures the undertaking has
implemented to ensure respect of human rights and identify any risks related thereto, both with regard to the enterprise
and the global supply chain and subcontractors of the undertaking.”]
The company conduct report shall contain the following information
1. The principles for corporate governance which the company applies in addition to the ones under law or
other regulations and information on where these principles can be found.
2.
[…]
If the company does not apply any Corporate Governance Code, the reasons for this shall be stated. If the
company applies a Corporate Governance Code, it shall indicate which parts of the code that the company
deviates from and the reasons for it. [Emphasis added]
Amendment text (in Official Language(s:)
I § 99a, stk. 2, indsættes som nyt nr. 5:
”nr. 5. For så vidt angår menneskerettigheder, jf. nr. 2, skal det oplyses, hvilke foranstaltninger virksomheden har
iværksat med henblik på at kontrollere overholdelsen af menneskerettigheder samt identificere risikable forhold i
relation hertil både for så vidt angår virksomheden og virksomhedens globale forsyningskæde og underleverandører.”
Virksomheders ledelsesberetning skal indeholde følgende:
1.
Oplysning om virksomhedens politikker for samfundsansvar, ud over det der følger af lov eller anden
regulering, samt information om, hvor disse politikker kan findes.
2.
[…]
Følger virksomheden ikke standarder, retningslinjer eller principper for samfundsansvar, skal grundene til dette oplyses
i ledelsesberetningen. Anvender virksomheden standarder, retningslinjer eller politikker for samfundsansvar skal det
oplyses i ledelsesberetningen. Afviger virksomheden på enkeltområder fra de fulgte standarder, retningslinjer eller
principper, skal dette oplyses i ledelsesberetningen, ligesom grundene hertil for de enkelte områder også skal oplyses.
17.
SWEDEN
Act or Statute:
Annual Accounts Act (Sw: årsredovisninglagen)
[[Swedish Code for Corporate Governance (Sw: Svensk kod för bolagsstyrning)
The Swedish Code for Corporate Governance is published by the Swedish Corporate Governance Board. The aim of
the Swedish Corporate Governance Code is primarily to improve confidence in Swedish listed companies, but the
Swedish Code for Corporate Governance is also applied in larger private and publicly owned companies. The code acts
as a complement to legislation and other regulations by specifying a norm for good corporate governance at a higher
level of ambition than the statutory regulation. However, this norm is not mandatory. Companies may deviate from
individual rules, providing they report each deviation and describe their own solution and explain why the deviation was
made (“comply or explain”).]]
Section or Paragraph:
[Annual Accounts Act Chapter 6 Section 6
21
23049838v.2
The statement of the board of directors for a limited company whose shares, subscription options or promissory notes
are registered for trade on a regulated market shall contain a company conduct report; unless the company chooses to
publish a company conduct report separated from the annual accounts in accordance with section 8.
The company conduct report shall contain the following information
3. The principles for corporate governance which the company applies in addition to the ones under law or other
regulations and information on where these principles can be found.
4.
[…]
If the company does not apply any Corporate Governance Code, the reasons for this shall be stated. If the company
applies a Corporate Governance Code, it shall indicate which parts of the code that the company deviates from and the
reasons for it. [Emphasis added]
Swedish Code for Corporate Governance Chapter 3, the tasks of the board of directors.
Section 3.1
The principle tasks of the board of directors include
•
•
•
•
•
•
establishing the overall operational goals and strategy of the company,
appointing, evaluating and, if necessary, dismissing the chief executive officer,
ensuring that there is an effective system for follow up and control of the company’s operations,
ensuring that there is a satisfactory process for monitoring the company’s compliance with laws and other
regulations relevant to the company’s operations,
defining necessary guidelines to govern the company’s ethical conduct,
ensuring that the company’s external communications are characterised by openness and that they are
accurate reliable and relevant. [Emphasis added]
Amendment text (English version):
To be added to Section 3.1 in the Swedish Code for Corporate Governance:
Establishing that there is a satisfactory process for monitoring the company’s human rights compliance and identifying
human rights risks in the company’s global supply chain. A summary of any taken measures shall be included in the
corporate governance report.]
Amendment text (in Official Language):
Att infogas i avsnitt 3.1 i svensk kod för bolagsstyrning:
Fastställa erforderliga riktlinjer för bolagets arbete med att försäkra efterföljande av de mänskliga rättigheterna och
identifiera risker för brott mot mänskliga rättigheter hos bolagets leverantörer. En sammanfattning över vidtagna
åtgärder ska inkluderas i bolagsstyrningsrapporten.
18.
UNITED STATES OF AMERICA
[[Securities and Exchange Commission Regulation S-K provides a set of disclosure requirements for public companies
in their periodic reports, annual report and proxy statement. Item 406 of Regulation S-K requires a public company
(registrant) to disclose certain information about its “code of ethics,” to post the code of ethics with the Commission, to
post the text of the code of ethics on the registrant’s web site, and to undertake in its annual report to provide any
person with a copy of the code of ethics.
As currently drafted, Item 406 only contemplates that the code of ethics would apply to a registrant’s principal
executive, financial, and accounting officers. The amendment to Item 406 suggested below would add a requirement
that the code of ethics would address how the specified officers deal with supply chain matters relevant to the business
of the entire company rather than being limited to the conduct of the specified officers.]]
22
23049838v.2
The proposed amendment follows:
§ 229.406 (Item 406) Code of ethics.
(a)
Disclose whether the registrant has adopted a code of ethics that applies to the registrant's principal
executive officer, principal financial officer, principal accounting officer or controller, or persons
performing similar functions. If the registrant has not adopted such a code of ethics, explain why it has
not done so.
(b)
For purposes of this Item 406, the term code of ethics means written standards that are reasonably
designed to deter wrongdoing and to promote:
(1) Honest and ethical conduct, including (A) the ethical handling of actual or apparent conflicts of
interest between personal and professional relationships and (B) ensuring that the registrant’s
business operations, including its supply chain, are free from slavery, forced or compulsory labor, and
human trafficking;
(2) Full, fair, accurate, timely, and understandable disclosure in reports and documents that a
registrant files with, or submits to, the Commission and in other public communications made by the
registrant;
(3) Compliance with applicable governmental laws, rules and regulations;
(4) The prompt internal reporting of violations of the code to an appropriate person or persons
identified in the code; and
(5) Accountability for adherence to the code.
[[Generally, the federal securities laws are designed to promote disclosure of material information to enable investors to
decide the merits of holding a particular corporation’s shares and their value. All corporations, whether private or
public, are subject to the corporate laws of the state in which they are organized, which govern the substantive internal
affairs of the entity. Although each of the 50 states has its own business corporation act, 32 states have broadened the
scope of a director’s discretion by authorizing them to consider, in addition to the interests of the corporation and its
stockholders, the effect of board action (or refraining to act) on the interests of “other constituencies.” These states
have four basic categories of “other constituencies” that the directors may consider without breaching their fiduciary
duties: long- and short-term interests of the corporation and its shareholders; employees, customers, suppliers, and
creditors; community and societal considerations; and the state and national economy.
In order to provide for a comprehensive approach that encompasses both public and private corporations, the following
is proposed for adoption by each state in its corporate statute:
In discharging the duties of their respective positions, the board of directors, committees of the board, individual
directors and individual officers may, in considering the best long term and short term interests of the corporation,
consider the effects of any action upon employees, suppliers and customers of the corporation or its subsidiaries
(including whether the corporation’s or its subsidiaries’ business operations, including its supply chain, are free from
slavery, forced or compulsory labor, and human trafficking), communities in which officers or other establishments of
the corporation or its subsidiaries are located, and all other pertinent factors.]]
19.
CHINA
Act or Statute:
Administrative Measures on Information Disclosure by Listed Companies, issued by China Securities Regulatory
Commission, Standards for Contents and Formats of Information Disclosure by Companies for Public Issuance of
Securities No. 1---Prospectus, issued by China Securities Regulatory Commission
[Section or Paragraph:
23
23049838v.2
Proposed new paragraph: Paragraph two of Article 21, Chapter three “Regular Report” of the Administrative Measures
on Information Disclosure by Listed Companies; Article 39 of the Standards for Contents and Formats of Information
Disclosure by Companies for Public Issuance of Securities No. 1---Prospectus.
Amendment text (English version)
A public company shall disclose the following contents in its prospectus (in the case of a newly listed company) or in its
annual report if its shares are already listed on a stock exchange:
Paragraph two:
The report of the board of directors as specified in the preceding paragraph shall include a “Report on labourer’s
legitimate rights protection and unlawful acts supervision in the supply chain of the company”. This report shall include
a commitment specifying that the company has not violated any labour and social security laws, regulations, rules and
other relevant regulatory documents, and a summary of measures taken by the company to monitor labour law
compliance, labourer’s legitimate rights protection and whether there is any conduct of forced labour, employing child
labourer, compelled hazardous work and any other illegal conduct, as well as any potential associated legal risks of the
relevant enterprises in the supply chain of the company.]
Amendment text (in Official Language(s))
首次公开发行股票的公司在其招股说明书，已公开发行股票的公司在其年度报告中应当记载以下内容:
第二段：
前款董事会报告中应包括该年度《公司所处产业链劳动者合法权益保护及违法行为监督报告》。报告内容应包括公司不
存在违反与劳动和社会保障有关的法律、法规、规章等规范性文件的承诺，并概括公司对所处产业链相关企业劳动法合
规、劳动者权益保障事项以及是否存在强迫劳动、雇用童工、强令危险作业等其他违法犯罪行为进行监督所采取的措施
以及所发现的相关潜在法律风险
20.
URUGUAY
The amendment is the one we mentioned in our email below, inclusion of paragraph number 7) in article 92 of law
16.060.
The sentence we propose including is the following:
"7) a description of the actions taken to monitor the protection of Human Rights and the actions taken upon the
identification of any potential risks affecting its employees and all persons participating in its production chains”.
In Spanish. Complete chapter with the amendment highlighted:
"(Memoria). Los administradores de las sociedades deberán rendir cuentas
sobre los negocios sociales y el estado de la sociedad, presentando una
memoria explicativa del balance general (estado de situación patrimonial y
de resultados), informando a los socios sobre todos los puntos que se
estimen de interés.
Especialmente se establecerá:
1) Las razones de variaciones significativas operadas en las partidas del activo y del pasivo.
2) Una adecuada explicación de los gastos y ganancias extraordinarias y su origen y de los ajustes por ganancias y
gastos de ejercicios anteriores, cuando sean significativos.
3) Las razones por las cuales se proponga la constitución de reservas, explicadas clara y circunstanciadamente.
24
23049838v.2
4) Explicación u orientación sobre la perspectiva de las futuras operaciones.
5) Las relaciones con las sociedades vinculadas, controladas o controlantes y las variaciones operadas en las
respectivas participaciones y en los créditos y deudas.
6) Las causas, detalladamente expuestas, por las que se proponga el pago de dividendos o la distribución de
ganancias en otra forma que en efectivo.
7) Una descripción de las acciones realizadas para monitorear la protección de los Derechos Humanos y las acciones
realizadas en cuanto a la identificación de cualquier riesgo potencial que pudiera afectar a sus empleados y a todas las
personas que participen en sus cadenas de producción".
21.
NEW ZEALAND
Act or Statute: Companies Act 1993 (New Zealand)
Section: 211(1)
Amendment: introduce new paragraph (k) to subsection 211(1), and new sub-section (2A), as below.
Amendment text (English version):
“211
Contents of annual report
(1)
Every annual report for a company must be in writing and be dated and, subject to subsection (3),
must – […]
k.
if the company is a large company (within the meaning of section 198), include a
summary of measures taken to monitor human rights compliance and identify human rights
risk in the global supply chain of the company; and …”
[…]
(2A) A company that is required to include group financial statements in its annual report must
include, in relation to its subsidiaries, the information specified in paragraph (k) of subsection (1) of
this section.
22.
ARGENTINA
LAW 25877
Chapter IV
Add to the endo of Article 26.k.
In English:
[“Supply chain: report measures adopted to identify risks and monitor the compliance of the fundamental principles and
rights at work in suppliers that are part of the supply chain.”]
[In Spanish. Complete chapter with the amendment highlighted:]
Capítulo IV
Balance Social
25
23049838v.2
ARTICULO 25. — Las empresas que ocupen a más de TRESCIENTOS (300) trabajadores deberán elaborar,
anualmente, un balance social que recoja información sistematizada relativa a condiciones de trabajo y empleo, costo
laboral y prestaciones sociales a cargo de la empresa. Este documento será girado por la empresa al sindicato con
personería gremial, signatario de la convención colectiva de trabajo que le sea aplicable, dentro de los TREINTA (30)
días de elaborado. Una copia del balance será depositada en el MINISTERIO DE TRABAJO EMPLEO Y SEGURIDAD
SOCIAL, la que será considerada estrictamente confidencial.
Las empresas que empleen trabajadores distribuidos en varios establecimientos, deberán elaborar un balance social
único, si la convención colectiva aplicable fuese de actividad o se aplicare un único convenio colectivo de empresa.
Para el caso de que la misma empresa sea suscriptora de más de un convenio colectivo de trabajo, deberá elaborar un
balance social en cada caso, cualquiera sea el número de trabajadores comprendidos.
ARTICULO 26. — El balance social incluirá la información que seguidamente se indica, la que podrá ser ampliada por
la reglamentación tomando en cuenta, entre otras consideraciones, las actividades de que se trate:
(a)
Balance general anual, cuenta de ganancias y pérdidas, notas complementarias, cuadros anexos y
memoria del ejercicio.
(b)
Estado y evolución económica y financiera de la empresa y del mercado en que actúa.
(c)
Incidencia del costo laboral.
(d)
Evolución de la masa salarial promedio. Su distribución según niveles y categorías.
(e)
Evolución de la dotación del personal y distribución del tiempo de trabajo.
(f)
Rotación del personal por edad y sexo.
(g)
Capacitación.
(h)
Personal efectivizado.
(i)
Régimen de pasantías y prácticas rentadas.
(j)
Estadísticas sobre accidentes de trabajo y enfermedades inculpables.
(k)
Tercerizaciones y subcontrataciones efectuadas. Cadena de Valor: informar medidas adoptadas para
identificar riesgos y monitorear el cumplimiento de los principios y derechos fundamentales en el trabajo en los
proveedores que hacen a su cadena de valor.
(l)
Programas de innovación tecnológica y organizacional que impacten sobre la plantilla de personal o
puedan involucrar modificación de condiciones de trabajo.
ARTICULO 27. — El primer balance social de cada empresa o establecimiento corresponderá al año siguiente al que
se registre la cantidad mínima de trabajadores legalmente exigida.
23.
SOUTH AFRICA
Act or Statute:
Companies Act No 71 of 2008 and particularly the regulations issued thereunder known as the Companies Act
Regulations, 2011
Section or Paragraph:
Regulation 43(5) of the Companies Act Regulations, 2011.
Amendment text (English version:)
See the tracked proposed amendments to Regulation 43(5):
26
23049838v.2
A social and ethics committee has the following functions:
(a)
To monitor the company's activities, having regard to any relevant legislation, other legal requirements or
prevailing codes of best practice, with regard to matters relating to —
(i)
social and economic development, including the company's standing in terms of the goals and purposes of —
(aa)
the 10 principles set out in the United Nations Global Compact Principles; and
(bb)
the OECD recommendations regarding corruption;
(cc)
the Employment Equity Act; and
(dd)
the Broad-Based Black Economic Empowerment Act;
(ii)
good corporate citizenship, including the company's —
(aa)
promotion of equality, prevention of unfair discrimination, and reduction of corruption;
(bb)
contribution to development of the communities in which its activities are predominantly conducted or within
which its products or services are predominantly marketed; and
(cc)
record of sponsorship, donations and charitable giving;
(iii)
the environment, health and public safety, including the impact of the company's activities and of its products or
services;
(iv)
consumer relationships, including the company's advertising, public relations and compliance with consumer
protection laws; and
(v)
human rights compliance and the identification of human rights risk in the global supply chain of the company;
(vi)
labour and employment, including—
(aa)
the company's standing in terms of the International Labour Organization Protocol on decent work and working
conditions; and
(bb)
the company's employment relationships, and its contribution toward the educational development of its
employees;
(b)
to draw matters within its mandate to the attention of the Board as occasion requires; and
(c)
to report, through one of its members, to the shareholders at the company's annual general meeting on the
matters within its mandate, which report must include a summary of measures taken to monitor human rights
compliance and identify human rights risk in the global supply chain of the company.
24.
BRAZIL
Initial remarks
[[There are no specific corporate or securities rules and regulations in Brazil that would require the disclosure of a
statement in every corporate document of a Brazilian company regarding the compliance with any specific social
responsibility policies.
However, Brazilian listed companies are required to disclose yearly in their Formulario de Referencia, the main
Brazilian corporate disclosure document, the social responsibility policies adopted by the company (Normative Ruling
480, issued by Brazilian Securities and Exchange Commission - CVM). There is also an item in the Formulario de
27
23049838v.2
Referencia that requires the disclosure of the issuer’s material long term relations. The annual circular issued by CVM
(Oficio- Circular/CVM/SEP/Nº 02/2015, item 7.8) describes that the social and environmental responsibility policies,
sustainable practices and main projects developed in each of these areas or in which the issuer participates should be
included in such item.
Statement Proposal]]
I - Act or statute:
Normative Ruling 480, issued by Brazilian Securities and Exchange Commission – CVM
Section or paragraph:
Section II, Subsection II, article 24
[Amendment text (English version):
“This document [Formulario de Referencia] must also include a summary of measures taken, according to the
company’s discretion, to monitor human rights compliance and identify human rights at risk in the global supply chain of
the Company.”]
Amendment text (in official language):
“Este documento [Formulário de Referência] deve incluir um sumário das medidas adotadas, de acordo com critérios
definidos pela empresa, para monitorar o cumprimento e identificar direitos humanos em risco na cadeia global de
fornecedores da empresa.
[[II - Act or statute:
There is not a specific command in the Brazilian Law that states the need to inform the shareholders about their
respective company’s socio-environmental commitment. Thus, this kind of commitment would have to be created and
introduced in an existing law, such as the Civil Code, or in another appropriate regulation.]]
Section or paragraph:
Book II - Title II - Brazilian Civil Code
[Amendment text (English version):
The companies should inform its shareholders and partners about the measures taken, according to the company’s
discretion, to monitor human rights compliance and identify human rights risk in the global supply chain of the
Company.]
Amendment text (in official language):
As empresas devem informar os seus acionistas e sócios das medidas adotadas, de acordo com critérios definidos
pela empresa, para monitorar o cumprimento e identificar direitos humanos em risco na cadeia global de fornecedores
da empresa.
25.
MALAYSIA
Act or Statute:
ANTI-TRAFFICKING IN PERSONS AND ANTI-SMUGGLING OF MIGRANTS ACT 2007 (“ATIPSOM 2007”)
Section or Paragraph:
28
23049838v.2
[[ATIPSOM 2007, which is the existing legislation in Malaysia governing anti-trafficking and anti-smuggling of persons,
does not impose reporting obligations in relation to anti-trafficking of persons within a supply chain.
Therefore, the following amendments the ATIPSOM 2007 are proposed to empower the Minister to make regulations in
relation to the publication of an Annual Anti-Trafficking Statement:]]
• Addition of a definition of “prescribed entities” in Section 2 of the ATIPSOM 2007.
• Addition of a new Section 23A in the ATIPSOM 2007 to empower the Minister to make regulations in relation to
the publication of an Annual Anti-Trafficking Statement.
We have also drafted a set of Regulations entitled ANNUAL ANTI-TRAFFICKING STATEMENT REGULATIONS 2016
to be passed by the Minister pursuant to the new Section 23A governing the “prescribed entities” and the Annual AntiTrafficking Statement.]]
[Amendment text of the Act (English version)
Section 2.
Interpretation
[…]
“prescribed” means prescribed by or under this Act;
“prescribed entity” means any person or body corporate prescribed by the Minister under Section 23A of this
Act as a prescribed entity.
[…]
Section 23A.
Annual Anti-Trafficking Statement
(1) The Minister, after consultation with the Council, may by regulation prescribe any person or body
corporate to be a prescribed entity.
(2) Prescribed entities shall be required to publish an Annual Anti-Trafficking Statement, which shall
consist of:
(a)
A statement of the steps the prescribed entity has taken during the financial year to
ensure that human trafficking and migrant smuggling is not taking place:
(b)
(i)
In any of its supply chains, and
(ii)
In any part of its own business, or
A statement that the prescribed entity has taken no such steps.
(3) Any regulations made under subsection (1) may specify rules relating to the contents, form, or
structure of the Annual Anti-Trafficking Statement.
(4) Any prescribed entity which fails or refuses to comply with any regulations made under subsection (1)
shall be guilty of an offence under this Act and shall be liable to any fines, penalties or liabilities as may
be prescribed by the Minister in such Regulation.
[DRAFT]
ANTI-TRAFFICKING IN PERSONS AND ANTI-SMUGGLING OF MIGRANTS ACT 2007
ANNUAL ANTI-TRAFFICKING STATEMENT REGULATIONS 2016
29
23049838v.2
IN exercise of the powers conferred by section 23A and section 66 of the Anti-Trafficking in Persons and AntiSmuggling of Migrants Act 2007, the Minister, after consultation with the Council for Anti-Trafficking in Persons and
Anti-Smuggling of Migrants, makes the following Regulations:
PART I
PRELIMINARY
1.
Citation and commencement
(1) These regulations may be cited as the Anti Trafficking in Persons and Anti-Smuggling of Migrants
(Annual Anti-Trafficking Statement) Regulations 2016.
(2) These regulations shall come into force on [a date to be prescribed by the Minister].
2.
Interpretation
In these regulations -“prescribed entity” means any person or body of persons, whether incorporated or unincorporated, which:
(a)
supplies goods and services, and
(b)
has a total annual turnover of not less than an amount prescribed within these Regulations, or by
the Minister on the recommendation of the Council, or by the Council by publication on its website.
“trafficking” means any conduct which constitutes an offence under Part III of the Anti-Trafficking of Persons and AntiSmuggling of Migrants Act 2007.
PART II
ANNUAL ANTI-TRAFFICKING STATEMENT
3.
Contents of the Annual Anti-Trafficking Statement
The Annual Anti-Trafficking Statement which is required to be prepared by prescribed entities pursuant to
Section 23A of the Anti-Trafficking in Persons and Anti-Smuggling in Migrants Act 2007 may include
information about –
(a)
The prescribed entity’s structure, its business and supply chains;
(b)
Its policies in relation to anti-trafficking in persons;
(c)
Its due diligence processes in relation to trafficking in its business and supply chains;
(d)
The parts of its business and supply chains where there is a risk of trafficking, and the steps it has
taken to assess and manage that risk;
(e)
Its effectiveness in ensuring that trafficking is not taking place in its business or supply chains,
measured against such performance indicators as it considers appropriate;
(f)
4.
The anti-trafficking training available to its staff.
Signing of the Annual Anti-Trafficking Statement
The Annual Anti-Trafficking Statement –
30
23049838v.2
(a)
(b)
(c)
5.
where the prescribed entity is a body corporate, must be approved by the board of directors and
signed by a director;
where the prescribed entity is a partnership, must be approved by the members and signed by a
designated member;
where the prescribed entity is a sole proprietorship or individual, must be signed by the sole proprietor
or individual.
Publication of the Annual Anti-Trafficking Statement
(1) If the prescribed entity has a website, it must –
(a)
Publish the Annual Anti-Trafficking Statement on that website, and
(b)
Include a link to the Annual Anti-Trafficking Statement in a prominent place on that website’s
homepage.
(2)
If the prescribed entity does not have a website, it must provide a copy of the Annual Anti-Trafficking
Statement to anyone who makes a written request for one, and must do so before the end of the
period of 30 days beginning with the day on which the request is received.
PART III
POWERS OF THE COUNCIL AND HIGH LEVEL COMMITTEE
6.
(1)
Power to issue guidance documents
The Council –
(a)
May issue guidance about the duties imposed on prescribed entities under these regulations;
(b)
Shall publish any such guidance on the Council’s website or by way of notification.
(2)
7.
Without prejudice to the generality of sub-regulation (1), the guidance issued by the Council may in
particular include further provisions about the kind of information to be included in an Annual AntiTrafficking Statement.
Enforcement
The duties imposed on prescribed entities by these Regulations are enforceable by the Council or the High
Level Committee bringing civil proceedings in the High Court for an injunction.
26.
HUNGARY
Act or Statue:
Act No. V of 2013 on the Civil Code;
Act No. C of 2000 on Accounting.
Section or Paragraph:
s. 3:23. subsection (1) of Act No. V of 2013 on the Civil Code;
s. 95. subsection (4) point e) of Act No. C of 2000 on Accounting.
[Amendment text (English version):
1.
s. 3:23 subsection (1) of Act No. V of 2013 on the Civil Code
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The executive officer is required to keep the members of the legal person, or the founders in the case of nonmembership legal persons, informed concerning the legal person, and to provide access for them to the legal person’s
documents, records and registers. This notification must also include a summary of measures taken to monitor human
rights compliance and identify human rights risk in the global supply chain of the legal person. The executive officer
shall be entitled to request a written declaration of confidentiality prior to the notification or the access to the documents.
2.
s. 95. subsection (4) point e) of Act No. C of 2000 on Accounting
The annual report shall describe the employment policy of the company concerned. The annual report must also
include a summary of measures taken to monitor human rights compliance and identify human rights risk in the global
supply chain of the company.]
Amendment text (in Official Language(s):
1.
s. 3:23 subsection (1) of Act No. V of 2013 on the Civil Code
A vezető tisztségviselő a jogi személy tagjai, tagság nélküli jogi személy esetén a jogi személy alapítói részére köteles
a jogi személyre vonatkozóan felvilágosítást adni, és számukra a jogi személyre vonatkozó iratokba és
nyilvántartásokba betekintést biztosítani. A felvilágosításnak tartalmaznia kell azon intézkedések összefoglalóját,
amelyeket a jogi személy az emberi jogi előírásoknak történő megfelelés ellenőrzésére és az emberi jogi kockázatok
azonosítására alkalmazott a jogi személy globális kereskedelmi láncolatának vonatkozásában. A felvilágosítást és az
iratbetekintést a vezető tisztségviselő a jogosult által tett írásbeli titoktartási nyilatkozat tételéhez kötheti.
2.
s. 95. subsection (4) point e) of Act No. C of 2000 on Accounting
Az üzleti jelentésben ki kell térni a vállalkozó által folytatott foglalkoztatáspolitikára. Az üzleti jelentésnek tartalmaznia
kell azon intézkedések összefoglalóját, amelyeket a vállalkozó az emberi jogi előírásoknak történő megfelelés
ellenőrzésére és az emberi jogi kockázatok azonosítására alkalmazott a vállalkozás globális kereskedelmi láncolatának
vonatkozásában.
27.
JAPAN
Act or Statute:
the Corporation Act Enforcement Regulation
Section or Paragraph:
Article 118 of the Corporation Act Enforcement Regulation
[Amendment text (English version:)
Article 118
The business report that a corporation shall prepare in line with Article 435, Clause II of the Corporation Act shall
include the following pieces of information:
[Item (1)-(3) omitted]
Item (4)
The overall content of the status quo of (a) terms and conditions of employment with employees, (b) statutory labor
insurance and social insurance concerning employees, and (c) compliance regarding human rights (including slavery
and human trafficking) in respect of the operations of the entity, as well as the recognition and evaluation of human
rights risks within the entity.]
Amendment text (in Official Language(s:)
会社法435条第2項に定める事業報告は、次に掲げる事項をその内容としなければならない。
4号
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23049838v.2
（あ）労働者の労働条件、 （い） 労働者の労働保険・社会保険、そして（う）法人の事業に関連する人権(隷属的利用および人身
売買を含む)についての法令遵守、の現状の概要。加えて、法人における人権に関するリスクの認識および評価。
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