Clifford Chance
Australian Parliament considering amendments to the International Arbitration Act 1974 (Cth)
26 August 2015
The Australian Federal Parliament is currently considering proposed amendments to the International Arbitration Act 1974 (Cth) (IAA).
Key issues
- The Bill proposes to make non-New York Convention awards enforceable under Part II of the IAA
- An award debtor may become able to resist enforcement under section 8(5) of the IAA on the basis of the incapacity of any party to the arbitration agreement (not just the incapacity of the award debtor itself)
- The Bill seeks to reverse the confidentiality regime under the IAA such that it will apply unless the parties agree otherwise (opt-out)
- Part III of the IAA may soon apply to pre-1989 arbitration agreements.
