The Justice and Constitutional Development Department published the draft bill's explanatory summary in Government Gazette 40687.
The proposed legislation seeks to:
- Provide for the incorporation of the Model Law on International Commercial Arbitration, as adopted by the United Nations Commission on International Trade Law, into South African law.
- Provide anew for the recognition and enforcement of foreign arbitral awards.
- Repeal the Recognition and Enforcement of Foreign Arbitral Awards Act, 1977.
- Amend the Protection of Business Act, 1978, so as to delete an expression.
- Provide for matters connected therewith.