The parliamentary Justice select committee has released a report on the Arbitration Amendment Bill, with a recommendation that it be passed with amendment.
The private member's bill was introduced by National MP Andrew Bayly. It seeks to amend the Arbitration Act 1996.
The amendments recommended by the select committee would remove the two proposed new sections, leaving only part of an amendment to Schedule 1.
The committee recommends deleting the clause which aims to resolve uncertainty about whether an arbitration clause in a trust deed would be binding under the Act. It says the Trusts Bill addresses the same broad concerns and is better suited.
Deletion of the clause which requires court proceedings under the Act to be conducted with the presumption of open justice is also recommended. The committee says it considers that the current regime for arbitration-related court proceedings strikes the appropriate balance between open justice and the private nature of arbitration.