Arbitration (Amendment) Act, 2015

Summary

This is a short technical amendment act that makes minor textual corrections to the BVI Arbitration Act, 2013. It does not create new obligations for arbitration practitioners or parties, but tidies wording and clarifies rule making powers of the Arbitration Board and the BVI International Arbitration Centre (BVI IAC).

• Wording corrections: Inserts the word Gazette after the phrase published in the in sections 1(2), 2(5), 87(2), 95(2), 99(1), and paragraph 8 of Schedule 4 of the principal Act, clarifying that publication must be in the Gazette.
• Rule making power: Replaces section 107(1) to confirm the Board may make rules to give effect to the Arbitration Act, subject to subsection (3).
• Fit and proper criteria: Adds a new paragraph 107(2)(h) empowering rules to define parameters for a fit and proper criteria for appointments under the Act, and renumbers the existing paragraph (h) as (i).
• Interim rule making: Replaces section 107(3) so that if the Board has not yet been appointed when rules are due to be made, the BVI IAC may make those rules instead.

The amendments come into force on a date to be appointed by the Governor by proclamation in the Gazette, rather than immediately on passage or gazettal of this Act.

Applies to

arbitration practitioners, the Arbitration Board, the BVI International Arbitration Centre (BVI IAC)

Deadlines

• such date as the Governor may by proclamation published in the Gazette appoint: Commencement date of the amendments, to be fixed later by gazetted proclamation