delete Conciliation and Arbitration Regulations (Amendment)
This amendment modifies regulations governing compulsory conciliation and arbitration processes for industrial disputes, affecting how workplace conflicts are resolved through government-mandated procedures rather than voluntary agreement between employers and employees.
Government-mandated arbitration and conciliation violate the principle of voluntary contract by forcing parties into state-run dispute resolution. These regulations create inefficiencies, increase compliance costs, and distort labor market incentives. The intended goal of fair dispute resolution can be achieved more efficiently through voluntary mechanisms, private arbitration, and market-based reputation systems. The unseen costs include suppressed wage signals, reduced flexibility in employment relationships, and barriers to entry for businesses unable to navigate complex industrial relations frameworks.