Senate passes bill to enact Arbitration and Mediation Act, three others for concurrence
Senate Passes Bill To Enact Arbitration and Mediation Act, Three Others For Concurrence
The Senate, on Tuesday, May 10, 2022 passed into law a Bill to enact the Arbitration and Mediation Act to provide for a unified legal framework for the settlement of commercial disputes.
Also passed into law were three Concurrence Bills from the House of Representatives. The Bills got the ultimate legislative nod after their clause by clause consideration in the Committee of the Whole.
The Bills passed into law include: Federal Medical Centre, Ogoja, Cross-River State (Establishment) Bill, 2022, Federal Medical Centre, Igboora, Oyo State (Establishment) Bill, 2022 and Advertising Regulatory Council Bill, 2022.
The four Concurrence Bills were sponsored by the Senate Leader, Yahaya Abdullahi (Kebbi North).
The Senate Leader, while presenting the report on the Arbitration and Mediation Act, 2022, said the Bill seeks to repeal the Arbitration and Conciliation Act, Cap A18, Laws of the Federation of Nigeria, 2004.
He disclosed that the piece of legislation recognizes and enforces the New York convention on foreign arbitration awards to any award made in Nigeria or in any contracting state arising out of international commercial arbitration.
He added that it also seeks the application of the Singapore convention on the international settlement agreements resulting from mediation.
The four Concurrence Bills were passed into law by the Senate after their clause-by-clause consideration in the Committee of the Whole.
Meanwhile, a Bill to repeal the National Secondary Education Commission Act, also scaled through second reading in the Senate on Tuesday.
The Bill seeks to enact the National Senior Secondary Education Act, 2022, to prescribe minimum standards for senior secondary education in Nigeria.
Sponsor of the Bill, the Senate Leader, Yahaya Abdullahi (Kebbi North) in his lead debate on the general principles of the legislation, said the Bill will make provision for the management of the National Senior Secondary Education Commission Fund - as a source of government intervention towards repositioning Senior Secondary Schools in Nigeria.
The Bill having scaled through second reading after its debate was referred to the Committee on Education (Basic and Secondary) by the Senate President, Ahmad Lawan, for further legislative work. The Committee has four weeks to report back to the chamber in plenary.
Dr. Ezrel Tabiowo, FAI, FIMC, CMC, FCP, Fsca
Special Assistant (Press)
To President of the Senate
Tuesday, May 10, 2022.