Arbitration and Conciliation Act Section 43B — Establishment and incorporation of Arbitration Council of India

CHAPTER X — Miscellaneous

Civil

Summary

Sub-section (1) says the Central Government must create a council called the Arbitration Council of India by publishing a notification in the Official Gazette. This council is set up to carry out the duties and functions given to it under this Act.

Sub-section (2) states that the Council will be a body corporate with that name. It will have perpetual succession, meaning it continues to exist even if its members change, and it will have a common seal. The Council has the power, as long as it follows the provisions of this Act, to buy, hold, and sell property, both movable and immovable, and to enter into contracts. It can also sue and be sued in its own name.

Sub-section (3) provides that the head office of the Council will be located in Delhi.

Sub-section (4) says the Council may set up offices in other places in India, but only with the prior approval of the Central Government.

Official Text

(1) The Central Government shall, by notification in the Official Gazette, establish, for the purposes of this Act, a Council to be known as the Arbitration Council of India to perform the duties and discharge the functions under this Act.

(2) The Council 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.

(3) The head office of the Council shall be at Delhi.

(4) The Council may, with the prior approval of the Central Government, establish offices at other places in India.