The central government on Wednesday issued draft rules for establishment of the New Delhi International Arbitration Centre (NDIAC).
The draft rules have been prepared by the Department of Legal Affairs (DoLA) for public consultation and the stakeholders may submit their comments to the DoLA by 14th March, 2020.
On March 2, 2019, the NDIAC Act, 2019 was enacted to make New Delhi a hub for institutionalised arbitration and to declare the New Delhi International Arbitration Centre to be an institution of national importance.
The draft rules relate to qualification, salary and allowances of the chairperson, all full-time and part-time members of the NDIAC. They also stipulate minimum requirements like educational qualifications, experience, method of selection and the functions of the registrar, counsel and other officers and employees of the centre.
Following are the draft rules:
As per Section 5 of the Act, 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, to be appointed by the Central Government in consultation with the Chief Justice of India.
Besides, it will also have two Full-time or Part-time Members from amongst eminent persons having substantial knowledge and experience in institutional arbitration, both domestic and international. In addition, one representative of a recognized body of commerce and industry shall be nominated on rotational basis as a Part-time Member. The Secretary, Department of Legal Affairs, Ministry of Law & Justice; Financial Adviser nominated by Department of Expenditure, Ministry of Finance and Chief Executive Officer, NDIAC will be ex-officio Members.
Additionally, Section 23 of the Act provides for the Secretariat to the Centre inter-alia comprising Registrar, Counsel and other officers & employees etc.
These draft rules are available here.