HK Legislature Passes Amended Arbitration BillThe Arbitration (Amendment) Bill 2000 was passed in the Legislative Council of the Hong Kong Special Administrative Region (SAR) Wednesday.The bill seeks to make it possible that with the leave of the court, arbitral awards made either in or outside Hong Kong are summarily enforceable in Hong Kong. "The bill will facilitate the enforcement in Hong Kong of awards made in countries or territories which are not parties to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958," said a spokesman for the Department of Justice of the Hong Kong SAR. "The bill which has the support of the members of the legal and arbitration profession will further enhance the Hong Kong SAR's reputation as an international arbitration center," the spokesman added. Within this session of the Legislative Council, two pieces of legislation were passed to strengthen the mechanisms for enforcing arbitral awards in Hong Kong. The other is the Arbitration (Amendment) Ordinance passed last January, under which arbitral awards made on the mainland by recognized arbitral authorities may be summarily enforced in Hong Kong. |
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