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Arbitration and Conciliation Act 1996 Quiz

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Arbitration and Conciliation Act 1996 Quiz

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Questions and Answers

What was the purpose of introducing the Arbitration and Conciliation (Amendment) Bill, 2015 in the Parliament?

To limit the scope of domestic arbitration

To make arbitration a preferred mode of settlement of commercial disputes (correct)

To regulate international commercial arbitration

To redefine the term 'Court' in the Act

What was the significance of the Arbitration and Conciliation (Amendment) Ordinance, 2015?

It established a new arbitration body

It amended the Arbitration and Conciliation Act, 1996 (correct)

It introduced new regulations for international arbitration

It extended the scope of domestic arbitration

What was the primary amendment introduced by the 2015 ordinance to the Arbitration and Conciliation Act, 1996?

Definition of expression 'Court' (correct)

Extension of the time limit for arbitration proceedings

Limitation on the number of arbitrators in a dispute

Introduction of mandatory mediation before arbitration

What was the ultimate goal of the 2015 and 2019 amendments to the Arbitration and Conciliation Act, 1996?

<p>To make arbitration a preferred mode of settlement of commercial disputes</p> Signup and view all the answers

What was the main focus of the Union Cabinet's approval for amendments to the Arbitration and Conciliation Bill, 2015?

<p>Making India a hub of international commercial arbitration</p> Signup and view all the answers

Study Notes

Arbitration and Conciliation (Amendment) Bill, 2015

Introduced in the Parliament to make arbitration a preferred mode of settlement.
Aimed to ensure that Indian courts are not overcrowded with cases.

Arbitration and Conciliation (Amendment) Ordinance, 2015

Introduced to amend the Arbitration and Conciliation Act, 1996.
Made significant changes to the arbitration process in India.

Primary Amendment to the Act, 1996

Introduced the concept of "costs" to ensure that the arbitration process is efficient and cost-effective.
Empowered the courts to determine and award costs, including lawyers' fees.

Ultimate Goal of the Amendments

To promote institutional arbitration in India.
To make India a hub of international arbitration.
To ensure that arbitration is a speedy, cost-effective, and efficient process.

Union Cabinet's Approval in 2015

Approved amendments to the Arbitration and Conciliation Bill, 2015.
Focused on promoting ease of doing business in India.
Aimed to make India a preferred destination for arbitration.

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Test your knowledge of the Arbitration and Conciliation Act 1996 in India with this quiz. Explore the amendments made in 2015 and 2019, and understand the government's efforts to promote arbitration as a preferred method for resolving commercial disputes.