Section 1 in The New Delhi International Arbitration Centre Act 2019

Title: Short title extent and commencement

Description: (1) This Act may be called the New Delhi International Arbitration Centre Act, 2019. (2) It shall be deemed to have come into force on the 2nd March, 2019.

Title: Definitions

Description: (1) In this Act, unless the context otherwise requires,-- (a) "Centre" means the New Delhi International Arbitration Centre established and incorporated under section 3; (b) "Chairperson" means the Chairperson of the Centre referred to in clause (a) of section 5; (c) "Chief Executive Officer" means the Chief Executive Officer appointed under section 21; (d) "Committee" means the relevant Committee of the Centre referred to in section 19; (e) "Custodian" means the person who is appointed as Custodian under sub-section (2) of section 11 in respect of the undertakings; (f) "Fund" means the Fund of the Centre to be maintained under section 25; (g) "Member" means Full-time or Part-time Member of the Centre and includes the Chairperson; (h) "notification" means a notification published in the Official Gazette; (i) "prescribed" means prescribed by rules made by the Central Government under this Act; (j) "regulations" means regulations made by the Centre under this Act; (k) "Society" means the International Centre for Alternative Dispute Resolution, registered as such under the Societies Registration Act, 1860 (21 of 1860), and having its registered office at New Delhi; (l) "specified date" means the date as may be specified by the Central Government by notification; (m) "undertakings" means the undertakings of the Society which vests with the Central Government under section 7. (2) All other words and expressions used herein but not defined and defined in the Arbitration and Conciliation Act, 1996 (26 of 1996), shall have the same meanings as assigned to them in that Act.

Title: Establishment and incorporation of New Delhi International Arbitration Centre

Description: (1) The Central Government shall, by notification, establish a body to be called the New Delhi International Arbitration Centre for the purposes of exercising the powers and discharging the functions under this Act. (2) The Centre shall be a body corporate by the name aforesaid, having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property, both movable and immovable, and to enter into contract, and shall, by the said name, sue or be sued.

Title: Declaration of New Delhi International Arbitration Centre as an institution of national importance

Description: (1) Whereas, the objects of the New Delhi International Arbitration Centre are such as to make it as an institution of national importance, it is hereby declared that the New Delhi International Arbitration Centre is an institution of national importance. (2) The head office of the Centre shall be at New Delhi and it may with the previous approval of the Central Government, establish branches at other places in India and abroad.

Title:  Composition of Centre

Description: The Centre shall consist of the following Members, namely:-- (a) a person, who has been a Judge of the Supreme Court or a Judge of a High Court or an eminent person, having special knowledge and experience in the conduct or administration of arbitration, law or management, appointed by the Central Government in consultation with the Chief Justice of India----Chairperson; (b) two eminent persons having substantial knowledge and experience in institutional arbitration, both domestic and international, appointed by the Central Government----Full-time Members or Part-time Members; (c) one representative of a recognised body of commerce and industry, chosen on rotational basis by the Central Government----Part-time Member; (d) Secretary, Department of Legal Affairs, Ministry of Law and Justice or his representative, not below the rank of the Joint Secretary----Member, ex officio; (e) one Financial Adviser nominated by the Department of Expenditure, Ministry of Finance---- Member, ex officio; and (f) Chief Executive Officer----Member, ex officio.