The Winter Session of the Parliament is beginning from today (11.12.2018). The New Delhi International Arbitration Centre Bill, 2018 is listed in the List of Business in the Lok Sabha for today. The broad aims of the Bill are to:
establishment and
incorporation of New Delhi International Arbitration
Centre for the purpose of creating an independent and
autonomous regime for institutionalised arbitration and
for acquisition and transfer of undertakings of the
International Centre for Alternative Dispute Resolution
and to vest such undertakings in the New Delhi
International Arbitration Centre for the better
management of arbitration so as to make it a hub for
institutional arbitration and to declare the New Delhi
International Arbitration Centre to be an institution of
national importance and for matters connected
therewith or incidental thereto, be taken into
consideration.
- establish and incorporate the New Delhi International Arbitration Centre (NDIAC);
- create NDIAC as an independent and autonomous institution for institutionalised arbitration;
- acquisition and transfer of undertakings of the ICADR- International Centre for ADR and to vest such undertakings in the NDIAC for better management of arbitration so as to make it a hub of institutional arbitration; and
- to declare NDIAC as an institution of national importance.
We had discussed the Bill in a previous post in the form of a presentation. Do have a look at it. With the election results being announced in a few states today and the current political climate, this blogger is not sure if the Parliament is going to discuss Bills today. Most likely the legislative bills would be taken after Wednesday. We'll keep the readers posted on further developments.
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