Question
Download Solution PDFThe New Delhi International Arbitration Centre (Amendment) Bill, 2022 was introduced in Lok Sabha on _________.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is August 5, 2022.Key Points
- The New Delhi International Arbitration Centre (Amendment) Bill, 2022 was introduced in Lok Sabha on August 5, 2022.
- The Bill amends the New Delhi International Arbitration Centre Act, 2019.
- The Act provides for setting up the New Delhi International Arbitration Centre and designates it as an institute of national importance.
- The New Delhi International Arbitration Centre replaced the International Centre for Alternative Dispute Resolution.
Additional Information
- Government of India passed the New Delhi International Arbitration Centre Act 2019.
- The New Delhi International Arbitration Centre Bill, 2019 was introduced in Lok Sabha by the Minister of Law and Justice, Mr. Ravi Shankar Prasad on July 3, 2019.
- It establishes an autonomous and independent institution for better management of arbitration in India.
- The establishment of the NDIAC is to conduct an arbitration, mediation, and conciliation proceedings.
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