On 11th June, 2022, Central Government passed New Delhi International Arbitration Centre (Terms and Conditions and the Salary and allowances payable to Chairperson and Full-time Members) Rules, 2022. Coming into force with immediate effect these rules are made under Section 30 of New Delhi International Arbitration Centre Act, 2019 (Act).
New Delhi International Arbitration Centre is body corporate made under Section 3 of the Act. In the Centre, any retired Judge of Supreme Court or High Court is made the Chairperson. Whereas, two eminent persons having substantial knowledge and experience in institutional arbitration, both domestic and international, are appointed as Full-time Members.
Key Points:
- These rules define the remuneration and other perquisites provided to the Full-time members and Chairperson [Section 5 of the Act] of the New Delhi Arbitration Centre.
- Salary and allowances (Rule 4) are applicable to terms and conditions officers of equivalent rank in Central Government are as follows–
-
- Chairperson- Rs. 2, 25,000/- p.m.
- Member (as defined under Rule 2d) – Rs. 1, 82,200/- p.m.
- H.R.A.- At the rate of 27% (Rule 7).
- PF- Under Contributory Pension Fund (Rule 8).
- Medical Treatment- Under the category of “Group A” or under Central Services (Medical Attendance) Rules, 1944 (Rule 11).
- Chairperson and Members have to make a compulsory declaration of his assets & liabilities and financial and other interests under Rule 14 when he assumes the given positions.