President promulgates Arbitration and Conciliation (Amendment) Ordinance, 2020
Amendment of Section 36
In Section 36 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the principal Act), in sub-section (3), after the proviso, the following shall be inserted and shall be deemed to have been inserted with effect from 23rd day of October, 2015, namely:—
“Provided further that where the Court is satisfied that a prima facie case is made out,-—
(a) that the arbitration agreement or contract which is the basis of the award; or
(b) 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.”.
Explanation.— For the removal of doubts, it is hereby clarified that the above 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.
Substitution of new Section for Section 43J
For section 43J of the principal Act, the following section shall be substituted, namely:-—
Norms for accreditation of arbitrators
“43J. The qualifications, experience and norms for accreditation of arbitrators shall be such as may be specified by the regulations.”
Omission of Eighth Schedule
The Eighth Schedule to the principal Act shall be omitted.
Read the Ordinance here: ORDINANCE
Ministry of Law and Justice
[Dt. 04-11-2020]
