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Which act will be applicable for the agreement entered
24-Jun-2023 (In Arbitration Law)
An agreement was entered into in the year 2006, with clause of named sole arbitrator with the provisions of "arbitration and conciliation act 1996 or such statutory modifications thereof as may be enforced at the relevant point of time". Petition for invoking clause was initiated by one of the party in the month of may 2018. Thereafter a notice was served by the arbitrator to the respondent in June 2018. My query is which act would be applicable 1996 or 2015.
Please be informed that the Arbitration clause itself is guided under the Arbitration and Conciliation Act, 1996. Any amendment under this statute by default supersede the earlier provision. Like for example there is a maternity benefit Act, 1961, there after amendment came in the year 2017, do we call it MB Act 2017 or 1961? obviously 1961 as the 2017 is only the amendment.
Likewise the 2015 is only the amendment and the actual act is A&C Act 1996.
Likewise the 2015 is only the amendment and the actual act is A&C Act 1996.
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Adv. Pradipta Nath
Durgapur | 200+ Answers
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The Arbitration & Conciliation Act, 1996 has not yet been replaced by any different legislation. As such, your agreement would be governed under the provisions of The Arbitration & Conciliation Act, 1996.
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Adv. Gunjan Shah
Kolkata | 100+ Answers
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As per your query you have entered into an agreement with the claimant and an arbitration proceeding has been referred to the Arbitrator. You have received one notice from the sole arbitrator for appear in the processding. It will governed under Act of 1996. In 2015 Act there is some of modification are made by the legislature but it will governed under 1996 Act. All law of Arbitration are same in two Acts except some modifications. The sections are elaborated in 2015 Act.
Thank you.
Thank you.
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Adv. Sougata Chatterjee
Kolkata | 100+ Answers
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