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International Arbitration Centre Bill passed in LS

  • Category
    Polity & Governance
  • Published
    16th Jul, 2019

The Lok Sabha has passed the New Delhi International Arbitration Centre Bill, aimed at establishing an independent and autonomous body for institutionalized domestic and international arbitration

Issue

Context

The Lok Sabha has passed the New Delhi International Arbitration Centre Bill, aimed at establishing an independent and autonomous body for institutionalized domestic and international arbitration

Background

  • The Government in view of the urgency to make India a hub of institutionalized arbitration and promote 'Ease of Doing Business’ promulgated The New Delhi International Arbitration Centre Ordinance, 2019 on March 2, 2019, to establish an autonomous and independent institution for better management of arbitration in India.
  • Previously, a similar Bill was passed by Lok Sabha on January 4, 2019. However, the Bill lapsed with the dissolution of the 16th Lok Sabha.
  • As per the provisions of Article 107(5) of the Constitution of India, a Bill, which has been passed by the Lok Sabha but is still pending in the Rajya Sabha, shall lapse on dissolution of the Lok Sabha.
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