Shura Council approves draft law establishing investment and trade court

Shura Council approves draft law establishing investment and trade court

By QLNews

The weekly Shura Council meeting, taking place every Monday, was held under the chairmanship of the Speaker HE Ahmed bin Abdullah bin Zaid Al Mahmoud.

The meeting was held via video conference at the Shura Council’s headquarters and discussed a draft law on mediation in settling civil and commercial disputes, consisting of 32 articles and defining mediation agreements.

It would imply the procedures and methods for mediation and the conditions that must be met by the mediator, the procedures for stopping the lawsuit in court if the parties agree to settle the dispute through mediation, and the procedures for the settlement agreement.

The draft was referred to the Legal and Legislative Affairs Committee by the Council for study and to submit a report on it to the Council.

The Legal and Legislative Affairs Committee’s report on the draft law establishing the investment and trade court was then reviewed by the Shura Council.

After an extensive discussion of the report, the Council had recommended amending one of the articles of the draft law, approved it in its amended form, and referred its recommendations regarding it to the esteemed government.

The draft law has 35 articles that include the formation of the investment and trade court and its primary and appeals departments.

The draft law also defines the jurisdiction of the court, including disputes related to commercial contracts, lawsuits arising between merchants and related to their business, disputes related to non-Qatari capital investment in economic activity, disputes related to the operations of banks, insurance companies, financing and investment companies, bankruptcy disputes, bankruptcy preventive conciliation, patent disputes, protection of competition, prevention of monopolistic practices, combating practices harmful to national products in international trade, disputes related to e-commerce and its transactions, and disputes related to partnership contracts between the government and private sectors.

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Source: The Peninsula
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