Daily Current Affairs 2020 Draft Arbitration Council of India rules issued to seek views of stakeholders | Daily Current Affairs 2020

Draft Arbitration Council of India rules issued to seek views of stakeholders

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The Department of Legal Affairs has sought views of stakeholders and people over the draft rules made by it under the New Delhi International Arbitration Centre (NDIAC) Act, 2019 concerning terms and conditions and salary and allowances payable to the chairperson and full-time members and some other related matters.

According to a Law and Justice Ministry release, views can be sent to it by March 14 this year.

The NDIAC Act provides for establishing New Delhi International Arbitration Centre to create an independent regime for institutionalised arbitration and to make the centre an institution of national importance.

The Act provides that NDIAC will be headed by a Chairperson who has been a judge of the Supreme Court or a judge of a High Court or an eminent person, having special knowledge and experience in the conduct or administration of arbitration, law or management.

It will also have two full-time or part-time members and a representative of a recognized body of commerce and industry as a part-time member on a rotational basis. NDIAC will also have ex-officio members.

The Department of Legal Affairs has prepared different draft rules. These are:

The New Delhi International Arbitration Centre (the terms and conditions and the salary and allowances payable to the Chairperson and Full-time Members) Rules 2020.

The New Delhi International Arbitration Centre (the travelling and other allowances payable to Part-time Members) Rules 2020.

The New Delhi International Arbitration Centre (the number of officers and employees of the Secretariat of the Centre) Rules 2020.

The New Delhi International Arbitration Centre (the qualifications, experience, method of selection and the functions of the Registrar, Counsel and other officers and employees of the Centre) Rules 2020.

A copy of the draft rules has been uploaded on the website of the Department of Legal Affairs (http://legalaffairs.gov.in/).

Source: Business Standard

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