Senate passes bill to enact Arbitration and Mediation Act, three others for concurrence
PRESS STATEMENT
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.
Signed:
Dr. Ezrel
Tabiowo, FAI, FIMC, CMC, FCP, Fsca
Special
Assistant (Press)
To
President of the Senate
Tuesday,
May 10, 2022.