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The Tax Publishers Arbitration and Conciliation Act, 1996--Key Amendments Key Amendments to the Arbitration and Conciliation Act, 1996: Overview of Amendment Act, 2019 Pragya Lalwani Learned author in this article highlights the key amendments made to the Arbitration and Conciliation Act, 1996 vide Arbitration and Conciliation (Amendment) Act, 2019. 1. Introduction For the smoother and quicker arbitration proceedings certain amendments were made to the Arbitration and Conciliation Act, 1996 by the Government of India (GoI). The President of India gave his assent to the amendments to the Arbitration and Conciliation Act, 1996 on 9^th of August, 2019, which has been published in the Official Gazette of India. Some of the key highlights of the Arbitration and Conciliation (Amendment) Act, 2019 are listed out in this article. 2. Definition of Arbitral Institution Clause (ca) has been inserted under section 2(1) of the Arbitration and Conciliation Act, 1996 defining the term arbitral institution. Accordingly, arbitral institution means an institution designated by the Supreme Court or a High Court under the Act. 3. Appointment of arbitrators under section 11 Sub-section (3A) inserted under section 11 of the Act, empowers the Supreme Court and the High Court to designate arbitral institutions graded by Arbitration Council of India for appointment of arbitrators. However, where arbitral institution is not available, the Chief Justice of the concerned High Court may maintain a panel of arbitrators for discharging the functions and duties of arbitral institution. In case of failure to appoint an arbitrator through appointment procedure, the appointment would be made by the arbitral institution designated by the Supreme Court or the High Court, as the case may be upon request of a party. An application made for appointment of arbitrators would be disposed of by the arbitral institution within a period of thirty days from the date of service of notice on opposite party. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Arbitration and Conciliation Act, 1996--Key Amendments

Key Amendments to the Arbitration and Conciliation Act, 1996: Overview of Amendment Act, 2019

Pragya Lalwani

Learned author in this article highlights the key amendments made to the Arbitration and Conciliation Act, 1996 vide Arbitration and Conciliation (Amendment) Act, 2019.

1. Introduction

For the smoother and quicker arbitration proceedings certain amendments were made to the Arbitration and Conciliation Act, 1996 by the Government of India (GoI). The President of India gave his assent to the amendments to the Arbitration and Conciliation Act, 1996 on 9^th of August, 2019, which has been published in the Official Gazette of India. Some of the key highlights of the Arbitration and Conciliation (Amendment) Act, 2019 are listed out in this article.

2. Definition of Arbitral Institution

Clause (ca) has been inserted under section 2(1) of the Arbitration and Conciliation Act, 1996 defining the term arbitral institution. Accordingly, arbitral institution means an institution designated by the Supreme Court or a High Court under the Act.

3. Appointment of arbitrators under section 11

Sub-section (3A) inserted under section 11 of the Act, empowers the Supreme Court and the High Court to designate arbitral institutions graded by Arbitration Council of India for appointment of arbitrators.

However, where arbitral institution is not available, the Chief Justice of the concerned High Court may maintain a panel of arbitrators for discharging the functions and duties of arbitral institution.

In case of failure to appoint an arbitrator through appointment procedure, the appointment would be made by the arbitral institution designated by the Supreme Court or the High Court, as the case may be upon request of a party. An application made for appointment of arbitrators would be disposed of by the arbitral institution within a period of thirty days from the date of service of notice on opposite party.