The Ministry of Law and Justice on March 11, 2021 has issued the Arbitration and Conciliation (Amendment) Act, 2021 to further amend the Arbitration and Conciliation Act, 1996.
The following amendments have been made:
• Section 36 (3), which specifies the enforcement of the contract, a new proviso has been inserted, namely:
“Provided further that where the Court is satisfied that a prima facie case is made out that:
1. the arbitration agreement or contract which is the basis of the award.
2. 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 the award.”
• Section 43J, which specifies the limitations, has been substituted, namely:
“The qualifications, experience and norms for accreditation of arbitrators shall be such as may be specified by the regulations.”
• The eighth schedule, which specifies the qualifications and experience of the arbitrators, has been omitted.
• The Arbitration and Conciliation (Amendment) Ordinance, 2020 is hereby repealed.
[Act No 03 of 2021]
