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Business and FinanceReligion and Community

Shura Council Approves Draft Law Establishing Investment and Trade Court

27 Apr, 2021 10:19 AMAl Raya Newspaper, The PeninsulaIntended Audience
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News Details

The Shura Council held its regular weekly meeting yesterday, under the chairmanship of the Speaker HE Mr. Ahmed bin Abdullah bin Zaid Al Mahmoud, via video conference at the Council's headquarters.

At the outset of the meeting, the Shura Council discussed a draft law on mediation in settling civil and commercial disputes, which consists of 32 articles. The draft law defines mediation agreements in which its provisions apply, the procedures and methods for mediation and the conditions that must be met by the mediator, whether he/she is a natural person or legal person. This also includes the procedures for stopping a lawsuit in court if parties agree to settle a dispute through mediation, and the procedures for the settlement agreement.

After discussion, the Council decided to refer the draft law to the Legal and Legislative Affairs Committee for study and submit a report on it to the Council.

The Shura Council reviewed the report of the Legal and Legislative Affairs Committee on the draft law establishing the investment and trade court.

After extensive discussion of the report, the Council recommended amending one of the articles of the abovementioned draft law, approving it in its amended form and referring its recommendations regarding it to the esteemed Government.

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