Home Energy conservation Center to Move New Delhi International Arbitration Center (Amd) Bill to LS

Center to Move New Delhi International Arbitration Center (Amd) Bill to LS

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The central government will table the “New Delhi International Arbitration Center (Amendment) Bill, 2022” in the Lok Sabha on Monday.

Justice Minister Kiren Rijuju will propose the New Delhi International Arbitration Center Amendment Bill 2019 for consideration.

The Act provides for the establishment of the New Delhi International Arbitration Center and designates it as an institute of national importance.

The Arbitration Center replaces the International Center for Alternative Dispute Resolution.

The law states that the Arbitration Center will endeavor to facilitate the conduct of international and domestic arbitration and conciliation.

The bill plans to include the conduct of other forms of alternative dispute resolution. But the mode of conduct of arbitration and other forms of alternative dispute resolution will be specified by the central government through regulations.

The Act allows the Union Government to provide for the removal of any difficulties in the implementation of the Act for up to two years from the date the Act comes into force. The bill increases this period to five years.

The House will also hold a discussion of a bill to amend the Energy Conservation Act 2001 and will also be considered.”

–IANS

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