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Which of the following changes are introduced by the Arbitration and Conciliation (Amendment) Act, 2019?
1. Appointment of arbitrators by the Ministry of Commerce.
2. Providing time-limit for the arbitration of domestic and international disputes.
3. Establishment of an independent body called the Arbitration Council of India.
Select the correct answer using the code given below.
1. Appointment of arbitrators by the Ministry of Commerce.
2. Providing time-limit for the arbitration of domestic and international disputes.
3. Establishment of an independent body called the Arbitration Council of India.
Select the correct answer using the code given below.
- a)1 and 2 only
- b)3 only
- c)2 and 3 only
- d)1, 2 and 3
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
Which of the following changes are introduced by the Arbitration and C...
- With an aim to make India a commercial arbitration hub and reduce the intervention of courts, the Government introduced amendments to the Arbitration and Conciliation Act, 1996. The Arbitration and Conciliation (Amendment) Act, 2019 stems from the recommendations made by a high-level committee under the chairmanship of Justice BN Srikrishna.
- Important Changes brought about by the Amendment:
(i) Establishment of ACI: It will establish an independent body, namely the Arbitration Council of India (‘ACI’) that will frame policies, provide grading of arbitral institutions, and oversee the timely and cost-effective disposal of arbitration cases. The statutory body is to be chaired by a judge of the Supreme Court, or the Chief Justice of a High Court or an eminent person, having special knowledge and experience in the conduct of the arbitration.
(ii) The Council will make grading of arbitral institutions on the basis of criteria relating to infrastructure, quality and caliber of arbitrators, performance and compliance of time limits for disposal arbitrations. Hence statement 3 is correct.
(iii) Time frame: Section 29 A of the Act which requires completion of all the arbitral proceedings within one year of the arbitral tribunal being constituted. However, it excludes International Commercial Arbitration from the ambit of the section. Hence statement 2 is not correct.
(iv) The Amendment Act empowers the Supreme Court (in the case of international commercial arbitration) and the High Court (in cases other than international commercial arbitration) to designate arbitral institutions for the purpose of appointment of arbitrators. It also provided for the qualifications and experience of Arbitrators. Hence statement 1 is not correct.
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Which of the following changes are introduced by the Arbitration and Conciliation (Amendment) Act, 2019?1. Appointment of arbitrators by the Ministry of Commerce.2. Providing time-limit for the arbitration of domestic and international disputes.3. Establishment of an independent body called the Arbitration Council of India.Select the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?
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Which of the following changes are introduced by the Arbitration and Conciliation (Amendment) Act, 2019?1. Appointment of arbitrators by the Ministry of Commerce.2. Providing time-limit for the arbitration of domestic and international disputes.3. Establishment of an independent body called the Arbitration Council of India.Select the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following changes are introduced by the Arbitration and Conciliation (Amendment) Act, 2019?1. Appointment of arbitrators by the Ministry of Commerce.2. Providing time-limit for the arbitration of domestic and international disputes.3. Establishment of an independent body called the Arbitration Council of India.Select the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following changes are introduced by the Arbitration and Conciliation (Amendment) Act, 2019?1. Appointment of arbitrators by the Ministry of Commerce.2. Providing time-limit for the arbitration of domestic and international disputes.3. Establishment of an independent body called the Arbitration Council of India.Select the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?.
Which of the following changes are introduced by the Arbitration and Conciliation (Amendment) Act, 2019?1. Appointment of arbitrators by the Ministry of Commerce.2. Providing time-limit for the arbitration of domestic and international disputes.3. Establishment of an independent body called the Arbitration Council of India.Select the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following changes are introduced by the Arbitration and Conciliation (Amendment) Act, 2019?1. Appointment of arbitrators by the Ministry of Commerce.2. Providing time-limit for the arbitration of domestic and international disputes.3. Establishment of an independent body called the Arbitration Council of India.Select the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following changes are introduced by the Arbitration and Conciliation (Amendment) Act, 2019?1. Appointment of arbitrators by the Ministry of Commerce.2. Providing time-limit for the arbitration of domestic and international disputes.3. Establishment of an independent body called the Arbitration Council of India.Select the correct answer using the code given below.a)1 and 2 onlyb)3 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'B'. Can you explain this answer?.
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