Companies (Directors Duties) Bill

A01:

Insert after Section 1 and renumber accordingly —

Section 2: Alternative Dispute Resolution

(1) Where a dispute cannot be resolved in house, any person(s) or partner(s) operating in the UK with the business in question may launch a certified alternative dispute resolution (ADR) process against that business challenging failure of adherence to the amended version of Section 172 of the Companies Act 2006.

(2) All applications for an alternative dispute resolution process should be submitted to the competent authority to deem sufficiency with the general requirements.

(3) The competent authority shall certify ADR schemes and develop the baseline requirements for applicants to their discretion.

(4 The Secretary of State may detail further the requirements for an application for an Alternative Dispute Settlement through regulations via secondary legislation.

(5) Regulations set under paragraph (3) shall be subject to affirmative procedure.

(6) If deemed necessary and appropriate, the Secretary of State in consultation and review with the competent and relevant authorities may take the case towards the Courts to which it shall be subject to its purview and processes.

EN: Adding an enforcement section in which consumers and other business partners can raise violations of Section 172 for dispute settlement under an ADR which proves quicker and more effective.

A01 is moved in the name of /u/Waffel-lol

This division ends on 13th August at 10pm BST.