ISLAMABAD: The Arbitration Law Review Committee (ALRC) was informed that proposed legislation will help in resolving all sorts of arbitration-related disputes expeditiously and swiftly.
Feisal Hussain Naqvi told the committee that it would repeal the Arbitration Act, 1940, and replace it with a modern law consistent with international best practices.
According to the statement issued by PRO SC, Justice Syed Mansoor Ali Shah, Judge Supreme Court, Chairman of the Arbitration Law Review Committee convened the third meeting of the committee on Thursday at the Supreme Court, Islamabad.
Advocates Muhammad Makhdoom Ali Khan, Feisal Hussain Naqvi, Barrister Mian Sami Uddin, RiffatInam Butt, Secretary Law and Justice Commission of Pakistan, Muhammad KhashihurRehman, AS/EDGII, Board of Investment, Zafar Iqbal Khokhar, Research Officer, and Hassan Mehmood, Consultant Ministry of Law and Justice, Islamabad participated in the meeting.
Feisal Hussain Naqvi gave an overview of the proposed legislation on arbitration. The proposed legislation is based on the UNCITRAL Model Law and deals with both domestic and international arbitration.
The proposed law will help in resolving all sorts of arbitration-related disputes expeditiously and swiftly. It will repeal the Arbitration Act, 1940, and replace it with a modern law consistent with international best practices.
The LJCP will soon share the draft legislation with the general public as well as with experts and stakeholders to obtain feedback so as to make the law more comprehensive and inclusive, says the handout.
Copyright Business Recorder, 2023
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