Union Cabinet provides permission to modify Arbitration and Conciliation Bill, 2015 [ Current Affairs ]

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About Arbitration and Conciliation Bill: The Conciliation and Arbitration Act 1904 was a law passed by the Parliament of Australia in 1904. The Act was relating to Conciliation and Arbitration for the Prevention and Settlement of Industrial Disagreements extending outside the Limits of any one State.

  • Arbitration is a form of Alternative Dispute Resolution (ADR).
  • ADR is form of many ways that parties can settle disagreements, with or without the help of a third party.
  • It is a technique for the resolve of disagreements outside the courts.
  • The parties with disagreement refer it to settlement by one or more persons and agree to be guaranteed by the settlement decision.
  • A third party appraisals the confirmation in the case and enforces a decision that is legally binding on both sides and enforceable in the courts.
  • Conciliation is also an alternative dispute resolution (ADR) process.
  • In it the parties to a disagreement use a conciliator, who meets with the parties both separately and together in an attempt to resolve their differences.

About permission from Union Cabinet:

  • Union Cabinet gives the permission for alterations to the Arbitration and Conciliation Bill, 2015.
  • These alterations search for make of profitable differences more user - friendly and cost effective which in turn will lead to quick clearance of cases.
  • It’s needed for judges to settle arguments within 12 months. This period can be extended by 6 months only by a court on sufficient cause.
  • It also stated that cut the fees of judges if the court finds that the delay has been caused due to judges.

- Published on: August 31, 2015