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This statement is made on behalf of Panacea under section 54(1) of the Modern Slavery Act 2015 and comprises our slavery and human trafficking statement. This is Panacea's first statement issued under the Modern Slavery Act 2015. It outlines the steps we have taken as a business to identify and prevent slavery and human trafficking in our own operations and supply chains. We understand our responsibilities and are committed to improving our practices to combat slavery and human trafficking.
We are a consultancy business focusing on IT and Business process consulting, with a speciality in information security, risk management, data privacy, and ERP solutions. Panacea has its head office in the UK and is registered in England. Our employees, both permanent and temporary, are currently spread across the UK, Europe, and India.
For further information, please visit panaceallc.net
Panacea has direct relationships with several UK- and India-based suppliers offering a wide range of services to Panacea and for the benefit of our customers. Our supply chains also include the outplacement of IT services, and other routine administrative tasks commoditised. Outplacement is to a mix of onshore and offshore providers.
We are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or any part of our business. Our Anti-Slavery and Human Trafficking Policy reflects our commitment to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking are not taking place anywhere in our business and in our supply chains. Accompanying this is our Whistleblowing Policy, which provides a system for our employees to escalate slavery and human trafficking issues and breaches of our Group policies. Both policies are reviewed annually. There have been no breaches or suspected breaches of our Anti-Slavery and Human Trafficking Policy since the company's inception in 2012.
As part of our initiative to identify, monitor and mitigate against industry risk, business transaction risk and risk in the countries in which we operate, we nominate senior representatives of the business units and functions, who in turn report to the company's managing director. We have in place policies and systems across our business, our trading partners, and our supply chains to: -
We have zero tolerance for slavery and human trafficking. To ensure all those in our supply chain and contractors comply with our values, we operate in line with responsible sourcing principles, including paying employees the prevailing minimum wage applicable within their relevant country of operations. We also have a Supplier Code of Conduct, which outlines our expectations. The Supplier Code of Conduct lists the mandatory policies, and we expect Suppliers to adhere to these standards or higher. The relevant account managers will monitor and enforce compliance with the Supplier Code of Conduct.
To ensure a high level of understanding of the risks of modern slavery and human trafficking in our business, our supply chains, and our business partners, we provide relevant in-house training to our colleagues. Under our Supplier Code of Conduct, we also require our business partners to provide regular and relevant training to their staff, suppliers, and providers.
We understand that some workers may be more vulnerable to modern slavery during the coronavirus pandemic. Panacea has adopted government guidelines for COVID-19-secure workplaces and paid statutory sick pay to prevent the spread of coronavirus. Our employees have been and continue to have access to our grievance procedures.
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015 and constitutes Panacea's slavery and human trafficking statement for the financial year ending 31 October 2022. It was approved by Panacea's Board of Directors on 1 November 2021.
Signed by
Paresh Deshmukh
Director
Panacea LLC
1 November 2021