The Government will introduce amendments to the Arbitration Ordinance to remove some legal uncertainties relating to the opt-in mechanism provided for domestic arbitration.
The Department of Justice today said the amendments will allow parties opting for domestic arbitration to decide on the number of arbitrators, while retaining their right to seek the Court's assistance on matters set out in Schedule 2 of the ordinance.
The proposed amendments were made in response to requests by the arbitration sector.
Amendments will also be made to update the list of parties to the Convention on the Recognition & Enforcement of Foreign Arbitral Awards 1958 contained in the ordinance, to reflect the latest changes to the convention.
A bill containing the amendments will be gazetted on January 23 and introduced into the Legislative Council on February 4.
