News / Government Committee Recommends Passing Reforms to Commercial Arbitration in Queensland /
Government Committee Recommends Passing Reforms to Commercial Arbitration in Queensland
7 February 2013
In a report tabled on 4 February, the Legal Affairs and Community Safety Committee has recommended that the Commercial Arbitration Bill 2012 (Qld) be passed by the Queensland Parliament. This is the final step in the process of bringing the state into alignment with the original reforms proposed by the Standing Committee of Attorneys- General (SCAG) back in 2010 as a response to the increasingly litigious nature of arbitration in Australia.
The Commercial Arbitration Bill 2012 replaces the Commercial Arbitration Bill 2011 which lapsed as a result of the dissolution of Parliament at the end of 2011.
The aim of the Bill is to align Queensland arbitration legislation with international standards for best practice for commercial dispute resolution in addition to harmonising the law with the International Arbitration Act 1974 (Cth) and providing uniformity for the application of commercial arbitration principles across all participating Australian jurisdictions. The proposed legislation will replace the Commercial Arbitration Act 1990 (Qld).
The Bill aims to enable parties involved in a commercial dispute to come to an agreement on how their dispute can be resolved. This increased efficacy of process will produce more cost-effective outcomes and applies to all domestic commercial arbitrations.
For more information contact:
Paul Lutvey | Partner
t +61 7 3224 0240
f +61 7 3224 0333