Bill renames New Delhi Arbitration Centre to India International Arbitration Centre

It also makes consequential changes to the Centre's functions, administrative procedures, and funding provisions.

Who it concerns: The New Delhi International Arbitration Centre (renamed to India International Arbitration Centre), its Members, Registrar, Counsel, officers, employees, and the Central Government.

What the bill does

• Renames the 'New Delhi International Arbitration Centre' to 'India International Arbitration Centre' throughout the Act.
• Amends Section 15 to specify that the Centre facilitates arbitration and other alternative dispute resolution mechanisms, both international and domestic, as specified by regulations.
• Changes the term 'application' to 'question' in Section 20 regarding the disposal of matters by the Centre.
• Replaces the word 'Centre' with 'Secretariat' in Section 23 regarding the supervision of activities by the Registrar.
• Expands the Fund of the Centre in Section 25 to cover salaries and allowances for the Registrar, Counsel, and other officers and employees, in addition to Members.
• Amends Section 31 to include regulations for the conduct of arbitration and the rules of procedure for Committee meetings, including quorum requirements.
• Extends the period for the Central Government to remove difficulties under Section 34 from two years to five years from the date of commencement.

Also in the document

• The Bill is an amendment to an existing Act (New Delhi International Arbitration Centre Act, 2019).
• The Statement of Objects and Reasons states the name change is intended to reflect the Centre's identity as an institution of national importance and its objective to promote India as a hub for institutional arbitration.
• The Bill was introduced in the Lok Sabha on 29th July 2022.