FOR IMMEDIATE PRESS RELEASE
On 19 March 2012, the Indian Government advised the Hong Kong Department of Justice that China (and Hong Kong) will be notified as a territory to which the New York Convention applies under the Arbitration and Conciliation Act 1996 of India. The notification has been published in the Indian Official Gazette.
While India and China are both signatories to the New York Convention, under the Indian Arbitration and Conciliation Act 1996, the Indian Government must formally notify the New York Convention country for an award to be enforced. Currently, 44 of the 146 New York Convention countries are included in India’s Official Gazette. Arbitration awards from these notified countries, which now includes China (and Hong Kong), must be recognized and enforced by Indian courts.
Although the Hong Kong International Arbitration Centre (HKIAC) is seeing an increasing number of arbitration cases involving Indian parties, this notification will provide clients with clarity in respect of the enforcement of awards in India made in Hong Kong on or after 19 March 2012. HKIAC Secretary-General Chiann Bao states, “With Sino-Indian trade on the increase, this long-awaited clarification is welcome by the HK arbitral community. We look forward to showcasing to India the many attractive features that Hong Kong has to offer as a seat of arbitration.”
About The Hong Kong International Arbitration Centre
HKIAC was established in 1985 by a group of leading business and professional people in Hong Kong to be the focus for dispute resolution in Asia. It has been generously funded by the business community and by the Hong Kong Government but it is completely independent of both and financially self-sufficient. The HKIAC aims to assist parties to resolve their disputes by arbitration and by other means of dispute resolution. It also places great emphasis on providing online dispute resolution services in a wide variety of areas including intellectual property and information technology. To learn more about the HKIAC, please visit www.hkiac.org.
Hong Kong International Arbitration Centre
Tel: (852) 2525 2381
Fax: (852) 2524 2171