On 11 April 2024, Baker McKenzie launched the Arbitration Bill Progress Tracker, hosted on Global Arbitration News. The Tracker provides an overview of the Arbitration Bill, a guide to the key proposed changes and implications if the Bill is passed, and maps out the Bill’s progress, which will be updated regularly.
The UK government asked the Law Commission to review the Arbitration Act 1996 to determine whether any amendments are required in order to ensure that the Act remains fit for purpose and continues to promote the UK as a leading destination for commercial arbitration. The Arbitration Bill was introduced into Parliament on 21 November 2023.
Arbitration Bill re-introduced under Starmer (updated (25 July 2024)
Following former Prime Minister Rishi Sunak’s decision to call the general election earlier this year, the Arbitration Bill’s progress in Parliament was halted.
While other pieces of legislation, such as the Post Office Bill, were rushed through their final stages in both the House of Commons and the House of Lords as part of the “washup” process – where certain, largely uncontroversial bills in their ultimate stages are fast tracked through the legislative process before parliament is dissolved – the fate of the Arbitration Bill was uncertain.
During the ‘extended’ King’s Speech, delivered on 17 July 2024, Keir Starmer’s government confirmed its intentions to re-introduce the Arbitration Bill in Parliament. We are pleased to report that the new government has moved swiftly, and the Arbitration Bill was re-introduced by Justice Minister Lord Ponsonby on 18 July 2024. Addressing Parliament, Lord Ponsonby said:
“This government is committed to securing the UK as a world leader in dispute resolution. Modernising the quarter-century old laws around arbitration will make it quicker, cheaper and more efficient for people and businesses looking to settle legal disputes. And helping our world-leading legal services sector to flourish will cement the UK’s position in this high-value sector – worth at least £2.5 billion to the British economy every year.”