Arbitration and conciliation (amendment) ordinance, 2020 promulgated w.e.f 4 November 2020
November 4, 2020
The Central Government has promulgated the Arbitration and Conciliation (Amendment) Ordinance, 2020 with effect from 4 November 2020. The Ordinance amends section 36 of the Arbitration and Conciliation Act 1996 (Enforcement of award), to provide that where the Court is satisfied that a prima facie case is made out that the arbitration agreement or the contract which is the basis of the award; or the making of the award, was induced or effected by fraud or corruption, it shall stay the award unconditionally pending disposal of the challenge under section 34 (to set aside the award).. A proviso to this effect has been inserted in section 36. This proviso shall apply to all court cases arising out of or in relation to arbitral proceedings, irrespective of whether the arbitral or court proceedings were commenced prior to or after the commencement of the Arbitration and Conciliation (Amendment) Act, 2015.
Further, Section 43J, which was inserted under the 2019 Amendment Act, to prescribe the qualifications, experience and norms for accreditation of arbitrators in the Eighth Schedule, has been substituted to provide that the qualifications shall be specified by the regulations. The Eighth Schedule has accordingly been omitted.
To refer to the Arbitration and Conciliation (Amendment) Ordinance, 2020, dated 4 November 2020, click here.
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