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Modern Slavery and Human Trafficking Statement

Scope:

This statement is a response to Section 54(1) of the Modern Slavery Act 2015 (“the Act”).

Introduction:

Panacea Applications Limited is not a relevant commercial organisation as defined by section 4 of the Act. Nonetheless, Panacea Applications Limited is committed to preventing slavery and human trafficking violations in its own operations, its supply chain and its services. We have zero tolerance of slavery and require our supply chain to comply with this.


We are a Private Limited Company operating as a provider of Software as a Service. Our supply chain includes our hosting provider, auditors and consultants.

Policies:

We operate a number of internal policies to ensure we are conducting business in a transparent and ethical manner. While these are not available for public viewing, the policies include the following:

  • Recruitment and selection policy

  • Supplier selection policy

  • Lone working policy

  • Anti-corruption and anti-bribery policy

  • Equality and diversity policy

  • Whistleblowing policy

Due diligence:

As part of our efforts to monitor and reduce the risk of slavery and human trafficking occurring within our supply chains we have adopted the following due diligence procedures:

  • Internal supplier audits

  • External supplier audits

 

Our due diligence procedures aim to:

  • Identify and mitigate potential risks in our business and our supply chains

  • Monitor potential risks in our business and our supply chains

  • Reduce the risk of slavery and human trafficking occurring in our business and supply chains

  • Provide protection for whistle-blowers

Risk and compliance:

Our company has evaluated the nature and extent of its exposure to the risk of slavery and human trafficking occurring in its UK supply chain through:

  • Evaluating the slavery and human trafficking risks of each new supplier

  • Reviewing on a regular basis all aspects of our supply chain

 

We do not consider that we operate in a high-risk environment because the majority of our supply chain is based in the UK and in low-risk industries such as internet software and services.
 

Nevertheless, where there is evidence of failure to comply with our anti-slavery policies and procedures by any of our suppliers, we will immediately terminate our relationship with that supplier.

Effectiveness

Our integrated management system incorporates Key Performance Indicators (KPIs) to measure our effectiveness and ensure that slavery and human trafficking is not taking place in our business and supply chains. These KPIs include:

  • Training our staff about modern slavery issues and increasing awareness within the company

  • Carrying out regular audits of at least 80% of our suppliers each year

Training our staff:

We provide all staff with induction training and annual refresher training. The topics covered include:

  • Steps our staff should take if they suspect that someone in the Company is somehow involved in slavery or human trafficking

  • Steps our Company should take if suppliers in its supply chain do not comply with our anti-slavery policies

 

This statement was approved by the board of directors for Panacea Applications Limited on 06 February 2024

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