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Arbitration Amendment Bill

Member’s Bill in the name of Paul Foster-Bell (Now Andrew Bayly) introduced on March 9, 2017. Amends the Arbitration Act in relation to arbitration clauses in trust deeds to bring  New Zealand’s approach into line with foreign arbitration legislation. Extends the presumption of confidentiality in arbitration in court, defines the grounds for setting aside an arbitral award and confirms the consequence of failing to raise a timely objection to an arbitral tribunal’s jurisdiction. First reading debate interrupted on April 12, but all parties except for NZ First indicated support for it to progress to select committee. Completed first reading on May 10 and referred to the Justice and Electoral Committee for consideration. Report back extended to May 11. On April 6, the committee released an interim report which included a detailed officials’ report with wide-ranging recommendations for amendments to allow interested parties to make new submissions. Report back deadline extended to October 1. Reported back on Oct 1 with wide ranging changes as signalled in the officials’ report. Second reading on March 6 with all parties in agreement. Committee stage completed April 3 with no major changes after rewrite in select committee.Third reading completed on May 1 with all parties in agreement. Arbitration Amendment Bill