Background: Arbitration and Conciliation (Amendment) Act 2019
- The Government has recently amended the Arbitration and Conciliation Act, 1996 by the Arbitration and Conciliation (Amendment) Act 2019.
- It seeks to establish an independent body namely, the Arbitration Council of India (ACI) for the purpose of grading of arbitral institutions and accreditation of arbitrators, etc.
- ACI will be will be headed by a Chairperson, who has been a Judge of the Supreme Court or a Chief Justice or Judge of a High Court or an eminent person to be appointed by the Central Government in consultation with the Chief Justice of India.
- Besides, it will also have two Full-time Members from amongst eminent arbitration practitioners and academicians. 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; Secretary, Department of Expenditure, Ministry of Finance and Chief Executive Officer, ACI will be ex-officio Members.
- Section 43M of the Act provides for the Secretariat to the Council consisting of such number of officers and employees as may be prescribed by the Central Government.
