Bill on establishing a mercantile court sent to parliament

The government has sent a Mercantile Court Bill to the parliament.

The bill was submitted tot eh parliament by Thimarafushi MP Ahmed Shareef.

The purpose of the court is to handle cases related to business transactions between various groups, and to restore confidence in Maldivian courts for groups that engage in business activities in the Maldives or with Maldivians, and to ensure the establishment of a safe environment for foreign investors in the Maldives.

The bill states that the Mercantile Court will operate at the same level as the superior courts established under Article 52 (b) of the Judicature Act, and that the court will have seven judges.

The bill states that the employees of the Civil Court who handle cases that come under the jurisdiction of the Mercantile Court will be transferred to the Mercantile Court.

The Mercantile Court will consist of a Construction Division, Banking and Financial Division, Tourism Division, Investment Division, Goods and Services Division and Proprietary Division.

The court will handle cases related to business transactions concerning tourism, construction, international business, insurance, civil aviation, maritime, shipping, finance leasing, banking and finance, securities, fishing, company, partnership, and professional liability.

The bill states that cases worth more than MVR 15,000,000 will also be handled by the Mercantile Court. This includes cases related to contract, trade and service provision, consumer and service recipient protection.