Reform of the 1996 Arbitration Act: What To Expect – 4-5 Gray’s Inn Square
‘The last dozen or so years have seen a number of revisions to arbitration legislation around the world. For instance, 2010 saw new or revised legislation in the Republic of Ireland and Scotland. In that context the review of the Arbitration Act 1996 (UK) (‘Act’) applicable in England, Wales and Northern Ireland, which started in 2021 was apt and necessary. The United Kingdom’s Law Commission has recently concluded that exercise. The Law Commission looked at whether the legislation is fit for purposes and reflected international best practice. In the round, the suggested changes, which still have to be given legislative effect, is a ‘tune up’, rather than a major revision, of an Act which has in the near 30 years since it was last amended shown itself to be robustly effective. The world (including the practice of domestic and international arbitration) has changed significantly since the mid-1990s and the suggested amendments can be seen as practical steps to consolidate the effectiveness of the Act.’
4-5 Gray's Inn Square, September 2023
Source: www.4-5.co.uk
