Draft SIAC Investment Arbitration Rules – Key Recommendations

siac

I. INTRODUCTION

  1. The following are my comments on the Draft Investment Arbitration Rules of the SIAC. In doing so, I have considered the draft SIAC Investment Arbitration Rules along with the Trans-Pacific Partnership (TPP) Investment Chapter, and the Stockholm Chamber of Commerce (SCC), International Centre for Settlement of Investment Disputes (ICSID), and International Chamber of Commerce (ICC) Rules.
  2. My comments are broadly classified into the following:
    • Suggestions regarding potential inclusions; and
    • Recommendations relating to specific provisions.

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Does Sec 29A of the Indian Arbitration Ordinance apply to pending proceedings?

arbitration

Background

  • The Arbitration & Conciliation (Amendment) Ordinance 2015 came into force on 23 Oct 2015
  • The amendments were made at the back of a comprehensive Law Commission Report on the subject (246th Law Commission Report)
  • Sec 29 A and B are new additions to the Arbitration & Conciliation Act
  • Sec 29 A deals with the time limit for issuing an arbitral award (an Award needs to be made in 12 months).

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