Dermot Ahern (Louth, Fianna Fail)

Deputies may recall that we had quite an extensive discussion on this matter on Committee Stage. I understand some of the reservations that Deputies have but I do not think they are well placed. I am on record as stating that in my view to attract international arbitration business to this jurisdiction it is critical to have a clear statutory statement on the position of the arbitrator. We all agree that this should be the objective. It is quite clear where the arbitrator stands in his or her position as arbitrator. The only difference between us concerns the way in which the objective of having a clear statutory position is achieved. We examined a number of possibilities and the choice we made was to follow the model adopted by the International Court of Arbitration, which is the arbitration body attached to the International Chamber of Commerce.

Its rules of arbitration provide for a general exclusion of liability whereby the arbitrators, the court and its members or the ICC and its employees shall not be liable to any person for any act or omission in connection with the arbitration. This rule has been readily accepted by all who chose to have their arbitrations dealt with by the ICC and I do not think we will be disadvantaged by adopting a similar rule in this jurisdiction. On the contrary, benefits can be gained from aligning our statutory regime with that of a body such as the ICC. It may, for example, enhance our ability to attract arbitrations which are administered by the ICC to this country. In 2008 alone, more than 650 requests for arbitration were filed with that court. Furthermore, the model we are following is prevalent in the United States and its adoption by us may be helpful in attracting arbitration business connected to that country. For these reasons, I am not prepared to accept the amendment.

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