Arbitration law to be amended

March 26, 2013

The Arbitration (Amendment) Bill 2013 will be gazetted on March 28 to implement the Arrangement Concerning Reciprocal Recognition & Enforcement of Arbitral Awards between Hong Kong and Macau.
 
It will be tabled at the Legislative Council on April 24.
 
The arrangement, concluded with Macau in January, enhances Hong Kong’s role as a regional arbitration centre, as it facilitates the efficient enforcement of Macau arbitral awards in Hong Kong and vice-versa.
 
To implement the arrangement, the Arbitration Ordinance must be amended to enable Hong Kong courts to enforce awards made in Macau according to principles set out in the arrangement.
 
Under the proposed amendments, a Macau award is enforceable in Hong Kong either by action in the Court of First Instance, or in the same manner as an arbitral award to which the relevant section of the ordinance applies with the court's leave.
 
The bill provides that with the court's leave, any emergency relief an emergency arbitrator in or outside Hong Kong grants is enforceable in the same manner as a court order or direction.