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President signs off on ‘The Arbitration and Conciliation (Amendment) Act, 2019’

President signs off on ‘The Arbitration and Conciliation (Amendment) Act, 2019’

The President of India has given his assent for the latest amendments in the Arbitration and Conciliation Act, 1996 and the same has been published in the Official Gazette of India as the Arbitration and Conciliation (Amendment) Act, 2019 for general information.

The Arbitration and Conciliation (Amendment) Bill, 2019 was passed by the Rajya Sabha on July 18, 2019, and by the Lok Sabha on August 1, 2019.

Key features

  • Insertion of new section 87 on the application of 2015 amendments - Unless the parties otherwise agree shall not apply to the arbitral proceedings which commenced before October 23, 2015.
  • The Amendment provides for the establishment of an Arbitration Council which will take measures necessary to promote and encourage arbitration, mediation, conciliation or other alternative dispute resolution mechanism in India. The Council shall function under the Chairmanship of the Chief Justice of India and have its head office at Delhi.
  • The amendment empowers the Supreme Court and the High Court to designate arbitral institutions for the purpose of appointment of arbitrators.

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