LAGOS COURT OF ARBITRATION LAW
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LAGOS COURT OF ARBITRATION LAW
ARRANGEMENT OF SECTIONS
1. Establishment of the Court of Arbitration
2. Membership of the Court of Arbitration
3. Composition of the General Meeting
4. Composition of the Board of Directors
5. The Secretariat
6. The Executive Secretary of the Board
7. General Meeting
8. Cessation of Membership of the Board
9. Functions of the Court of Arbitration
10. Powers of the Court of Arbitration
11. Annual Reports
12. Power to make Regulations.
13. Citation and Commencement
[Commencement] [18th May 2009]
THE LAGOS STATE HOUSE OF ASSEMBLY enacts as follows:
1. Establishment of the Court of Arbitration
(1) There is established a body to be known as “The Lagos court of Arbitration (referred to in this Law as “the Court of Arbitration”).
(2) The Court of Arbitration shall be private sector driven, independent of regulation, direction or control by any branch of Government’
(3) The Court of Arbitration shall consist of the-
(a) General Meeting;
(b) Board of Directors; and
(c) Secretariat.
2. Membership of the court or Arbitration
Membership of the court of Arbitration shall be open to any Person or body corporate of good standing with bona fide interest in Commercial arbitration or Alternative Dispute Resolution, including but not limited to lawyers, arbitrators, mediators, experts, academics, businessmen, law firms, Commercial and trading organisations who have satisfied laid down conditions including payment of an annual subscription to be determined by the Board of Directors from time to time.
3. Composition of the General Meeting
Members of the court of Arbitration shall constitute the General Meeting.
4. Composition of the Board of Directors
(1) The initial Board of Directors shall be composed of fifteen (15) highly reputable persons who have ability, experience and specialised knowledge of arbitration and other forms of Alternative Dispute Resolution (ADR) processes.
(2) The persons shall be drawn from various fields of commerce and industry appointed in the first instance by the Governor of Lagos State on the recommendation of the Attorney-General and Commissioner for Justice of Lagos State and subsequently by election of the General Meeting.
(3) The Board of Directors shall elect one of their members to be the President of the Court for a term of two (2) years which term may be renewed.
(4) A member of the Board of Directors shall hold Office for a renewable term of five years.
(5) A casual vacancy in the Board shall be filled only upon a unanimous vote of the remaining members of the Board from a list of persons with ability, experience or specialised knowledge.
5. The Secretariat
There shall be established for the Court of Arbitration a Secretariat which shall be headed by an Executive Secretary who shall be employed by and report directly to the Board and who shall serve as Secretary to the Board of Directors of the Court of Arbitration.
6. The Executive Secretary of the Board
The Executive Secretary shall be responsible for the day to day management and administration of the Court of Arbitration.
7. General Meeting
(1) The General Meeting shall be composed of persons and institutions of repute who are members of the Court of Arbitration.
-(2) The General Meeting may on the advice of the Board of Directors terminate the appointment of a member on grounds of misbehaviour or inability to discharge the duties of his Office reason of physical or mental incapacity.
8. Cessation of Membership of the Board
A member of the Board of Directors shall cease to be a member if-
(a) he resigns his appointment as a member of the Board;
(b) he becomes bankrupt or makes a compromise with his creditors;
(c) he is convicted of a felony or of any offence involving dishonesty or corruption or any other criminal offence:
(d) he becomes incapable of carrying out the functions of his office either arising from an infirmity of the mind or body; or
(e) 2/3 majority of the members unanimously vote for his removal.
9. Functions of the Court of Arbitration
The functions of the Court of Arbitration shall be to-
(a) promote resolution of disputes in the territory of Lagos State by arbitration and other Alternative Dispute Resolution mechanisms apart from litigation;
(b) maintain a Panel of Neutrals which shall consist of Arbitrators, Mediators as well as other experts with special skills and experience in specialised areas and who are willing to be members of any Tribunal or Panel constituted by the Court of Arbitration in respect of any dispute referred to it; and
(c) such other functions as shall be appropriate for the Court of Arbitration to assume in order to effectively carry out its main functions of resolving disputes by any other mechanism apart from litigation.
10. Powers of the Court of Arbitration
For the purposes of proper discharge of its functions under this Law, the Court of Arbitration shall have Powers to-
(a) acquire and dispose of any interests in land or other property;
(b) borrow or raise money with or without security for any of the purpose of the Court of Arbitration, provided that no money shall be raised by mortgage of any real or personal property of the Court of Arbitration without such consent or approval (if any) as may be required by Law;
(c) make and carry out any arrangement for co-operation with any other organisation whether incorporated or not, carrying on functions similar or complementary to any function for the time being carried on by the Court of Arbitration;
(d) employ such staff and upon such terms and conditions as may be required for the purposes of the efficient performance of the functions conferred on the Court of Arbitration under or pursuant to this Law; and
(e) perform such other functions as may be conferred upon the Court of Arbitration by its members.
11. Annual Reports
(1) The income and property of the Court of Arbitration shall be applied solely towards the promotion of the objects and functions of the Court of Arbitration as set forth, and no portion shall be paid to or transferred directly by way of dividend, bonus or otherwise by way of profit to members of the Court of Arbitration, provided that nothing herein shall prevent the payment in good faith of remuneration to any officer, servant or member of the Court of Arbitration or other persons in return for any service actually rendered to the Court of Arbitration.
(2) The President of the Court of Arbitration shall, not later than 30th of June in each year, submit to the General Meeting a report on the activities of the Court of Arbitration and its administration during the immediately preceding year and shall include
12. Power to make Regulations
Subject to the provisions of this Law, the Board of Directors may with the approval of the General Meeting make regulations generally for the purposes of this Law and the administration of the Court of Arbitration.
13. Citation and Commencement
This Law may be cited as the Lagos Court of Arbitration Law and shall come into force on the 18th day of May 2009.
LAWS OF LAGOS STATE
LAWS OF THE FEDERAL REPUBLIC OF NIGERIA
