New Delhi International Arbitration Centre Act, 2019
The New Delhi International Arbitration Centre Act, 2019 (Act No. 17 of 2019) is a legislation passed by the Indian Parliament to establish the New Delhi International Arbitration Centre (NDIAC).
Here are some key points about the Act:
- Establishment of NDIAC: The Act establishes the NDIAC as an independent and autonomous body for conducting arbitration, mediation, and conciliation proceedings.
- Objectives: The Act aims to create an efficient and user-friendly regime for institutionalized arbitration in India, making the NDIAC a hub for such proceedings.
- Declaration of National Importance: The Act declares the NDIAC as an institution of national importance, recognizing its significance in promoting arbitration in India.
- Transfer of Undertakings: The Act provides for the transfer of the undertakings of the International Centre for Alternative Dispute Resolution (ICADR) to the NDIAC for better management of arbitration services.
The Act outlines various aspects of the NDIAC’s functioning, including:
- Composition and governance structure of the Centre
- Powers and duties of the Centre
- Financial provisions
- Establishment of a Chamber of Arbitration and an Arbitration Academy
- Power to make rules and regulations
For further details, you can refer to the official copy of the Act available on the website of the Department of Legal Affairs, Ministry of Law and Justice, Government of India.
India International Arbitration Centre Act, 2019
The India International Arbitration Centre Act, 2019 is a significant legislative development in India aimed at promoting international arbitration and making India a hub for resolving commercial disputes. Here’s an overview:
- Objective: The primary objective of the Act is to establish an autonomous and independent institution known as the India International Arbitration Centre (IIAC) for the purpose of conducting international and domestic arbitration.
- Creation of the IIAC: The Act establishes the IIAC as a statutory body with headquarters in New Delhi. It replaces the erstwhile International Centre for Alternative Dispute Resolution (ICADR) and gives the IIAC more autonomy and independence.
- Composition of the IIAC: The IIAC is governed by a Board of Governors (BOG) consisting of a Chairperson, a Vice-Chairperson, and other members appointed by the central government. The BOG oversees the management and administration of the IIAC.
- Functions of the IIAC: The IIAC is tasked with promoting institutional arbitration, providing facilities for conducting arbitration, and maintaining panels of arbitrators. It also aims to develop guidelines and best practices for arbitration procedures.
- Appointment of Arbitrators: The IIAC maintains a panel of arbitrators from whom parties can choose for resolving their disputes. This helps in ensuring impartiality and expertise in arbitration proceedings.
- Promotion of Arbitration: The Act emphasizes the promotion of arbitration as a preferred method for dispute resolution, both domestically and internationally. This is in line with global trends favoring arbitration over traditional litigation due to its efficiency and flexibility.
- Recognition and Enforcement: The Act provides for the recognition and enforcement of arbitral awards made by the IIAC, both within India and internationally, in accordance with the provisions of the New York Convention and other applicable laws.
- Amendment to Other Laws: The Act amends certain provisions of other laws such as the Arbitration and Conciliation Act, 1996, to align them with the provisions of the IIAC Act.
Overall, the India International Arbitration Centre Act, 2019, represents a significant step towards creating a conducive environment for arbitration in India, thereby enhancing the country’s attractiveness as a destination for resolving commercial disputes through arbitration.
Here’s a breakdown of the India International Arbitration Centre Act, 2019, including its important provisions and the 2022 Amendment.
Key Purposes of the India International Arbitration Centre Act, 2019
- Establish the India International Arbitration Centre (IIAC): The Act’s primary goal is to establish the IIAC (formerly called the New Delhi International Arbitration Centre) as the leading institution for conducting arbitration and alternative dispute resolution processes in India.
- Create Autonomy: The Act ensures the IIAC functions as an independent body, fostering a strong and reliable arbitration ecosystem in India.
- Provide Infrastructure and Facilities: The Act focuses on providing top-notch infrastructure and facilities for the IIAC, aiming to make India a global hub for arbitration.
- Promote Research and Training: The Act emphasizes research, training, and education in alternative dispute resolution and arbitration, enhancing the quality of arbitration practitioners in India.
Important Provisions
- Chamber of Arbitration: The Act establishes a Chamber of Arbitration within the IIAC. This Chamber manages a panel of highly qualified arbitrators and oversees arbitration processes.
- Grants and Funds: The Central Government provides financial grants to support the IIAC. The Centre also maintains its own established fund.
- Institution of National Importance: The Act designates the IIAC as an institution of national importance, highlighting its significant role in the Indian legal system.
- Taking Over the ICADR: The existing International Centre for Alternative Dispute Resolution (ICADR) was transferred to the Central Government and subsequently absorbed into the IIAC.
The 2022 Amendment
The India International Arbitration Centre (Amendment) Act, 2022 made these notable changes:
- Name change: The New Delhi International Arbitration Centre was officially renamed to the India International Arbitration Centre.
- Broadened Scope: The IIAC’s role was expanded to include the facilitation of mediation and conciliation in addition to arbitration, both in domestic and international settings.
Significance of the Act
The India International Arbitration Centre Act of 2019 plays a pivotal role in:
- Improving Ease of Doing Business: It contributes to the improvement of India’s reputation in the “Ease of Doing Business” rankings by offering a streamlined and efficient dispute resolution mechanism.
- Attracting Foreign Investment: A robust arbitration framework enhances India’s attractiveness to foreign investors by providing them with a reliable and accessible system for dispute resolution.
- Reducing Burden on Courts: Establishing the IIAC as a major center for arbitration assists in easing the strain on India’s overburdened court system.
Location
Please note that the India International Arbitration Centre (IIAC) is headquartered in New Delhi, India.
New Delhi International Arbitration Centre Act, 2019
India International Arbitration Centre Act, 2019
New Delhi International Arbitration Centre Act, 2019
India International Arbitration Centre Act, 2019
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