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Arbitration (International Investment Disputes) Act, 1966 |
Arbitration (International Investment Disputes) Act, 1966 |
Arbitration (International Investment Disputes) Act, 1966 41 of 1966 13th December 1966 2. Effect of registration. (1) Subject to the provisions of this Act, an award registered under Section 1-above shall, as respect the pecuniary obligations which it imposes be of the same force and effect for the purposes of execution as if it had been a judgment of the High Court given when the award was rendered pursuant to the Convention and entered on the date of registration under this Act. and, so far as relates to such pecuniary obligations- (a) proceedings may be taken on the award, (2) Rules of Court under Section 99 of the Supreme Court of Judicature (Consolidation)Act, 1925, may contain provisions requiring the Court on proof of the prescribed matters to stay execution of any award registered under this Act so as to take account of cases where enforcement of the award has been stayed (whether provisionally or otherwise) pursuant to the Convention, and may provide for the provisional stay of execution of the award where an application is made pursuant to the Convention which, if granted, might result in a stay of enforcement of the award. 3. Application of Arbitration Act, 1950, and other enactments. (1) The Lord Chancellor may by order direct that any of the provisions contained in- (a)Section 12 of the Arbitration Act, 1950(Attendance of witnesses, production of documents, etc.) or any corresponding enactments forming part of the law of Northern Ireland, and (2) Subject to the sub-section (1) above, neither the Arbitration Act, 1950 nor the Arbitration Act (Northern Ireland), 1937, shall apply to proceedings pursuant to the Convention, but this sub-section shall not be taken as affecting Section 4(1) of the Arbitration Act, 1950(stay of Court proceedings where there is submission to arbitration) or Section 4of the said Act of Northern Ireland. (a) may be varied or revoked by a subsequent order so made, and 4. Status, immunities and privileges conferred by the Convention. (1) In section 6-of the Chapter 1 of the Convention (which governs the status, immunities and privileges of the International Centre for Settlements of Investment Disputes established by the Convention, of members of its Council and Secretariat and of persons concerned with conciliation or arbitration under the Convention) Articles 18 to 20, Article 21 (a) (with Art. 22 as it applies Article 21(a)). Article 23(1) and Article 24 shall have the force of law. (a) entitling the said Centre to import goods free of customs duty without any restriction on their subsequent sale in the country to which they were imported, or (3) for the purposes of Article 20 and Article 21 (a) of the Convention as given the force of law by this section, a statement to the effect that the said Centre has waived an immunity in the circumstances specified in the statement, being a statement certified by the Secretary-General of the said Centre (or by the person acting as Secretary-General), shall be conclusive evidence 5. Government contribution to expenses under the Convention. The Treasury may discharge any obligations of Her Majesty's Government in the United Kingdom arising under Article 17 of the Convention (which obliges the contracting States to meet any deficit of the International Centre for Settlement of Investment Disputes established under the Convention), and any sums required for that purpose shall be met out of money provided by Parliament. 6. Application to British possessions, etc. [Not printed.] 7. Application to Scotland . [Not printed.] 8. Application to Northern Ireland . [Not printed.] 9. Short title and commencement. (1) This Act may be cited as the ARBITRATION (INTERNATIONAL INVESTMENT DISPUTES) ACT, 1966. 1. The Act came into force on 21st December 1966, on which the Convention came into force as regards the regards the United Kingdom .
SCHEDULE 1. TEXT OF CONVENTION SCHEDULE 1 Preamble The Contracting States Considering the need for international co-operation for economic development, and the role of private international investment therein; CHAPTER 1 INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES SECTION ESTABLISHMENT AND ORGANISATION 1. Article (1) There is hereby established the International Centre for Settlement of Investment Disputes (hereinafter catted the Centre). 2. Article The seat of the Centre shall be at the principal office of the International Bank for Reconstruction and Development (hereinafter called the Bank"). The seat may be moved to another place by decision of the Administrative Council adopted by a majority of two-thirds of its members. 3. Article The Centre shall have an Administrative Council and a Secretariat and shall maintain a Panel of Conciliators and a Panel of Arbitrators. ADMINSTRATIVE COUNCIL 4. Article (1) The Administrative Council shall be composed of one representative of each Contracting State. An alternate may act as representative in case of his principal's absence from a meeting or inability to act. 5. Article The President of the Bank shall be ex officio Chairman of the Administrative Council (hereinafter called the Chairman) but shall, have no vote. During his absence or inability to act and during any vacancy in the office of President of the Bank, the person for the time being acting as President shall act as Chairman of the Administrative Council. 6. Article (1) 'Without prejudice to the powers and functions vested in it by other provisions of the Convention, the Administrative Council shall- (a) .adopt the administrative and financial regulations of the Centre; (2) The Administrative Council may appoint such committees as it considers necessary. 7. Article (1) The Administrative Council shall hold an annual meeting and such other meetings as may be determined byte Council, or convened by the Chairman, or convened by the Secretary-General at the request of not less than five members of the Council. 8. Article Members of the administrative council and the Chairman shall serve without remuneration from the Centre SECTION 3 THE SECRETARIAT 9. Article The Secretariat shall consist of a Secretary-General, one or more Deputy Secretaries-General and staff. 10. Article (1) The Secretary-General and any Deputy Secretary-General shall be elected by the Administrative Council by majority .of two-thirds of. Its; members upon the nomination of the Chairman for a term of service not exceeding six years and shall. be eligible for re-election. After consulting the members of the Administrative Council, the Chairman shall propose one or more candidates for each such office. 11. Article The Secretary-General shall be the legal representative and the principal officer of the Centre and shall be responsible for its administration, including the appointment of staff, in accordance with the provisions of this Convention and the rules adopted by the Administrative Council. He shall perform the functions of registrar and shaft have the power to authenticate arbitral awards rendered pursuant to this Convention and to certify copies thereof. SECTION 4THE PANELS 12. Article The Panel of Conciliators and the Panel of Arbitrators shall each consist of qualified person, designated as hereinafter provided, who are willing to serve thereon. 13. Article (1) Each Contracting State may designate to each Panel four persons who may but need not be its nationals. 14. Article (1) Persons designated to serve on the Panels shall be persons of high moral character and recognized competence in the fields of law, commerce, industry or finance, who may be relied upon to exercise independent judgment. Competence in the field of law shall be of particular importance in the case of persons on the Panel of Arbitrators. 15. Article (1) Panel members shall serve for renewable period of six, years. 16. Article (1) A person may serve on both Panels. SECTION 5 FINANCING THE CENTRE 17. Article If the expenditure of the Centre cannot be met out of charges for the use of its facilities, or out of other receipts, the excess shall be borne by Contracting States which are members of the Bank in proportion to their respective subscriptions to the capital stock of the Bank, and by Contracting States which are not members of the Bank ill accordance with rules adopted by the Administrative Council. SECTION 6 STATUS, IMMUNITIES AND PRIVILEGES 18. Article The Centre shall have full international legal personality. The legal capacity of the Centre shall include the capacity- (a) to contract; 19. Article To enable the Centre to fulfil its functions, it shall enjoy in the territories of each Contracting State the immunities and privileges set forth in this Section. 20. Article The Centre, its property and assets shall enjoy immunity from all legal process, except when the Centre waives this immunity. 21. Article The Chairman, the members of the Administrative Council, persons acting as Conciliators or arbitrators or members of a Committee appointed pursuant to paragraph (3) of Article 52. and the officers and employees of the Secretarial, (a) shall enjoy immunity from legal process with respect to acts performed by them in the exercise of their functions, except when the Centre waives this immunity-, 22. Article The provisions of Article 21 shall apply to persons appearing in proceedings under the Convention as parties, agents, counsel, advocates, witnesses or experts: provided, however, that sub-paragraph (b) thereof shall apply only in connection with their travel to and from, and their stay at. the .place where the proceedings are held. 23. Article (1) The archives of the Centre shall be inviolable, wherever they may be. 24. Article (1) The Centre, its assets, property and income, and its operations and transactions authorised by this Convention shall be exempt from all taxation and customs duties. The Centre shall also be exempt from liability for the collection or payment of any taxes or customs duties. CHAPTER 2 (1) The jurisdiction of centre shall extend to legal dispute arising directly out of an investment, between contracting State (or any constituent sub-division or agency of a Contracting State designated to the Centre by that State) and a national of another Contracting State, which the parties to the dispute consent in writing to submit to the Centre. When the parties have given their consent. no party may withdraw its consent unilaterally. (a) any natural person who had the nationality of a Contracting State other than the State party to the dispute on the date on which the parties consented to submit such dispute to conciliation or arbitration as well as on the date on which the request was registered pursuant to paragraph (3) of Article 28 or paragraph (3) of Article 36. but does not include any person who on either date also had the nationality of the Contracting State party to the dispute: and (3) Consent by a constituent sub-division or agency of a Contracting State shall require the approval of that State unless that State notifies the Centre that no such approval is required. 26. Article Consent of the parties to arbitration under this Convention shall, unless otherwise stated, be deemed consent touch arbitration to the exclusion of any other remedy. A Contracting State may require the exhaustion of local administrative or judicial remedies as a condition of its consent to arbitration under this convention. 27. Article (1)No contracting State shall give diplomate protection, orbing an international claim, in respect of a dispute which one of its nationals and another contracting state shall have submitted to arbitration under this arbitration under this convention, unless such other contracting state shall have falsetto abide by and comply with the award rendered in such dispute. CHAPTER 3 (1) Any Contracting State or any national of a Contracting State wishing to institute conciliation procedings shall address a request to that effect in writing to the Secretary -General who shall lend a copy of the request to the other party. SECTION CONSTITUTION OF THE CONCILIATION COMMISSION 29. Article (a) The Commission shall consist of a sole conciliator or any uneven number of conciliator appointed as the parties shall agree. 30. Article If the Commission shall not have been constituted with in 90 days after notice registration of the request has been dispatched by the Secretary-General in accordance with paragraph (3) of Article 28, or such other period Theparties may agree, the Chairman shall, at the request of dither party and after consulting both Partics as few as pun), may appoint the conciliator or conciliators not yet appointed. 31. Article (1) Conciliators may be appointed from outside the Pane) of Conciliators, except in the case of appointments by the Chairman pursue at to Article 30. SECTION 3 CONCILIATION PROCEEDINGS 32. Article (1) The Commission shall be the Judge of its own competence. 33. Article Any conciliation proceeding shall be conducted in accordance with the provisions of this Section and, except as the parties otherwise agree, in accordance with the Conciliation Rules in effect on the date on which the parties consented to conciliation. If any question of procedure arises which is not covered by this Section or the Condiliation Rules or any roles agreed by the parties, the Commission shall decide the question. 34. Article (1) It shall be the duty of the Commission to clarify the issues in dispute between the parties and to endeavour to bring about agreement between them upon mutually acceptable terms. To that end, the Commission may at any stage of the proceedings and from time to time recommend terms of settlement to the parties. The parties shall co-operate dingoed faith with the Commission in order to enable the Commission to carry out its functions, and shall give their most serious consideration to its recommendations. 35. Article Except as the parties to the dispute shall otherwise agree, neither party to a conciliation proceeding shall. be entitled in any other proceeding, whether before arbitrators or in a Court of law or otherwise, to invoice or ret-on any views expressed or statements or admissions or offers of settlement made by the other party in the conciliation proceedings, or the report or any recommendation made by the Commission. CHAPTER 4 (1) Any Contracting State or any national of a Contracting State wishing to institute arbitration proceedings shall address a request to that effect in writing to the Secretary-General who shall send a copy of the request to the other party. SECTION 2 CONSTITUTION OF THE TRIBUNAL 37. Article (1) The Arbitral Tribunal (hereinafter called the Tribunal) shall be constituted as soon as possible after registration of a request pursuant to Article 36. (a) The Tribunal shall consist of a sole arbitrator or any uneven number of arbitrators appointed as the pasties shall agree. 38. Article If the Tribunal shall not have been constituted within 90 days after notice of request of the request has been dispatched by the Secretary-General in accordance with paragraph (3) of Article 36, or such other period as the parties may agree, the Chairman shall, at the request of either party and after consulting both parties as far as possible, appoint the arbitrator or arbitrators not yet appointed. Arbitrators appointed by the Chairman pursuant to this Article shall not be nationals of the Contracting State party to the dispute or of the Contracting State whose national is a party to the dispute. 39. Article The majority of the arbitrators shall be nationals of State other than the Contracting State party to the dispute and the Contracting State whose national is a party tee the dispute; provided, however, that the fore going provisions of this Article shall not apply if the sole arbitrator or each individual member of the Tribunal has been appointed by agreement of the parties. 40. Article (1) Arbitrators may be appointed from outside the Panel of Arbitrators, except in the case-of appointments by the Chairman pursuant to Article 38. SECTION 3 POWERS AND FUNCTIONS OF THE TMBUNAL 41. Article (1) The Tribunal shall be the Judge of its own competence. 42. Article (1) The Tribunal shall decide a dispute in accordance with such rules of law as may be agreed by the parties. In the absence of such agreement, the Tribunal shall apply the law of the Contracting State party to the dispute (including its rules on the conflict of laws) and such rules of international law as may be applicable. 43. Article Except as the parties otherwise agree, the Tribunal may, if it deems it necessary at any stage of the proceedings, (a) call upon the parties to produce documents or other evidence, and 44. Article Any arbitration proceedings shall be conducted in accordance with the provisions of this Section and, except as the parties otherwise agree, in accordance with the Arbitration Rules in effect on the date on which the parties consented to arbitration. If any question of procedure arises which is not covered by this Section or the Arbitration Rules or any rules agreed by the parties, the Tribunal shall decide the question. 45. Article (1) Failure of a party lo appear or to present his case shall not be deemed an admission of the other party's assertions... 46. Article Except as the parties otherwise agree, the Tribunal shall, if requested by a party, determine any incidental or additional claims or counter-claims arising directly out of the subject-matter of the dispute provided that they are within the scope of the consent of the parties and are otherwise within the jurisdiction of the Centre. 47. Article Except as the parties otherwise agree, the Tribunal may, if it considers that the circumstances so require, recommend any provisional measures which should be taken to preserve the respective rights of either party. SECTION 4THE AWARD 48. Article (1)The Tribunal shall decide questions by a majority of the votes of all its members. 49. Article (1) The Secretary-General shall promptly dispatch certified copies of the award. to the parties. The award shall be deemed to have been rendered on the date on which the certified copies were dispatched. SECTION 5 INTERPRETATION. REVISION AND ANNULMENT OF THE AWARD 50. Article (1) if any dispute shall arise between the parties as to the meaning or scope of an award, either party may request interpretation of the award by an application in writing addressed to the Secretary-General, 51. Article (1) Either party may request revision of the award by an application in writing addressed to the Secretary-General on the ground of discovery of some fact of such a nature as decisively to affect the award, provided that when the award was rendered that fact was unknown to the Tribunal and to the applicant and that the applicant's ignorance of that fact was not due to negligence. 52. Article (1) Either party may request annulment of the award by an application in writing addressed to the Secretary-General on one or more of the following grounds: (a) that the Tribunal was not properly constituted; (2) The application shall be made within 120 days after the date on which the award was rendered except that when annulment is requested on the ground of corruption such application shall be made within 120 days after discovery of the corruption and in any event within three years after the date on which the award was rendered. SECTION 6 RECOGNITION AND ENFORCEMENT OF THE AWARD 53. Article (1) The award shall be binding on the parties and shall not be subject to any appeal or to any other remedy except those provided for in this Convention, each party shall abide by and comply with the terms of the award except to the extent that enforcement shall have been stayed pursuant to the relevant provisions of this Convention. 54. Article (1) Each Contracting State shall recognize an award rendered pursuant to this Convention as binding and enforce the pecuniary obligations imposed by that award within its territories as if it were a final judgment of a Court in that State. A Contracting State with a federal constitution may enforce such an award in or through its federal Courts and may provide that such courts shall treat the award as if it were a final judgment of the Courts of a constituent State. 55. Article Nothing in Article 54 shall be construed as derogating from the law in force in any Contracting State relating to immunity of that State or of any foreign State from execution. CHAPTER 5 (1) After a Commission or a Tribunal has been constituted and proceedings have begun, its composition shall remain unchanged; provided, however, that if a conciliator, or an arbitrator should die, become incapacitated, or resign, the resulting vacancy shall be filled in accordance with the provisions of S. 2 of Chapter III or Section 2-ofChapter IV. 57. Article A party may propose to a Commission or Tribunal the disqualification of any of its members on account of any fact indicating a manifest lack of the qualities required by paragraph (1) of Article 14. A party to arbitration proceedings may, in addition, propose the disqualification of an arbitrator on the ground that he was ineligible for appointment to the Tribunal undersection 2-of Chapter IV. 58. Article The decision on any proposal to disqualify a conciliator or arbitrator shall be taken by the other members of the' Commission or Tribunal, as the case may be, provided that, where those members are equally divided, or in the case of a proposal to disqualify a sole conciliator or arbitrator, or a majority of the conciliators or arbitrators, the Chairman' shall take that decision. If it is decided that the proposal it well founded, the conciliator or arbitrator to whom the decision relates shall be replaced in accordance with the provisions of Section 2-of Chapter III or Section 2-ofChapter IV. CHAPTER 6 The charges payable by the parties for the use of the facilities of the Centre shall be determined by the Secretary-General in accordance with the regulations adopted by the Administrative Council. 60. Article (1) Each Commission and each Tribunal shall determine the fees and expenses of its members within limits established from time to time by the Administrative Council and after consultation with the Secretary-General. 61. Article (1) In the case of conciliation proceedings the fees and expenses of members of the Commission as well as the charges for the use of the facilities of the Centre, shall be borne equally by the parties. Each party shall bear any other expenses it incurs in connection with the proceedings. CHAPTER 7 Conciliation and arbitration proceedings shall be held at the seat of the Centre except as hereinafter provided. 63. Article Conciliation and arbitration proceedings may be held, if the parties so agree- (a) at the seat of the Permanent Court of Arbitration or of any other appropriate institution, whether private or public, with which the Centre may make arrangements for that purpose, or CHAPTER 8 Any dispute arising between Contracting States concerning the interpretation or application of this Convention which is not settled by negotiation shall be referred to the International Court of Justice by the application of any party to such dispute, unless the States concerned agree to another method of settlement. CHAPTER 9 Any Contracting State may propose amendment of this Convention. The text of a proposed amendment shall be communicated to the Secretary-General not less than 90 days prior to the meeting of the Administrative Council at which such amendment is to be considered and shall forthwith be transmitted by him to all the members of the Administrative Council. 66. Article (1) If the Administrative Council shall so decide by a majority of two-thirds of its members, the proposed amendment shall be circulated to all Contracting States for ratification, acceptance or approval. Each amendment shall enter into force 30 days after dispatch by the depositary of this Convention of a notification to Contracting State*that all Contracting States have ratified, accepted or approved the amendment. HAPTER 10 This Convention shall be open for signature on behalf of States members of the Bank. It shall also be open for signature on behalf of any other State which is a party to the Statute of the International Court of Justice and which (he Administrative Council, by a vote of two-thirds of its members, shall have invited to sign the Convention. 68. Article (1) This Convention shall be subject to ratification, acceptance or approval by the signatory States in accordance with their respective constitutional procedures. 69. Article Each Contracting State shall take such legislative or other measures as may be necessary for making the provisions of this Convention effective in its territories. 70. Article This Convention shall apply to all territories for whose international relations a Contracting State is responsible, except those which are excluded by such State by written notice to the depositary of this Convention either at the time of ratification, acceptance or approval or subsequently. 71. Article Any Contracting State may denounce' this Convention by written notice to the depositary of this Convention. The denunciation shall lake effect six months after receipt of such notice. 72. Article Notice by a Contracting State pursuant to Article 70 or 71 shall not affect the rights or obligations under this Convention of that State or of any of its constituent sub-divisions or agencies or of any national of that State arising out of consent to the jurisdiction of the Centre given by one of them before such notice was received by the depositary. 73. Article Instruments of ratification, acceptance or approval of this Convention and of. amendments thereto shall be deposited with the Bank which shall act as the depositary of this Convention. The depositary shall transmit certified copies of this Convention to States members of the Bank and to any other State invited to sign the Convention. 74. Article The depositary shall register this Convention with the Secretariat of the United Nations in accordance with Article 120 of the Charter of the United Nations and the Regulations hereunder adopted by the General Assembly. 75. Article The depositary shall notify all signatory States of the following:- (a) signatures in accordance with Article 67. (Here follow the signatures.)
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