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These included ongoing issues such as poor institutional coordination, lack of transparency, high levels of corruption, and murky lines of accountability. The key features of the first generation reforms that took place between 2000-2005 addressed aspects of legislation, centralization and independence, and professionalization.
He drew a thread from the first arbitration law in Denmark under Christian V in 1683 to a bill on arbitration in 1972 to the enactment of the 2005 Danish Arbitration Act based on the 1985 UNCITRAL Model Law on International Commercial Arbitration.
It is now important for the Centre to show that it is independent and efficient with a commitment to promote ADR services in Asia and beyond. The Malaysian Arbitration Act 2005 (“the Act”) was previously amended in 2018, aligning it with the revisions of the UNCITRAL Model Law and the evolving practices of leading arbitration jurisdictions.
Regarding procedural efficiency, simultaneous resolution of all disputes including the counterclaims by an arbitral tribunal prevents duplication of proceedings, is cost-effective, and ensures neutrality of the dispute forum, which is essential to investors. 18 IISD Model 2005 ). 11-18 IISD Model 2005 ). a IISD Model 2005 ).
By virtue of Section 1(4) of the 2011 Act, the law applies retrospectively to foreign awards made from and after July 14, 2005, the date when Pakistan ratified the New York Convention 1958 through a Presidential ordinance. This development is likely to enhance the overall efficiency and effectiveness of the arbitration process in Pakistan.
Hence, parties often select different laws for the main contract and the arbitration agreement to ensure efficient and fair dispute resolution through arbitration. The carve-out to the Default Rule thus serves to maintain England’s position as a desirable seat of arbitration and promote the pro-arbitration aims of the Arbitration Bill.
Since 2005, Sir David has been consistently praised as one of the worlds outstanding commercial arbitrators, and in recognition of his outstanding contribution to the development of arbitration law and practice in New Zealand and internationally, was awarded a Knighthood by Queen Elizabeth II in 2017. Past interviews are available here.
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