Regulatory Alerts2016-11-24
BVI International Arbitration Centre (Functions and Procedures of the Board) Order, 2016
The Cabinet of the British Virgin Islands issued this Order to define the statutory functions and operational procedures of the Board governing the BVI International Arbitration Centre. The Order mandates the Board to provide strategic direction, appoint the Chief Executive Officer and Deputy Chairman, approve budgets and accounts, establish committees, and advise Cabinet on legislative amendments to the UNCITRAL Model Law. It further establishes procedural rules guaranteeing Board independence, requiring quarterly meetings with a three-member quorum, majority voting with casting vote provisions, and flexible meeting formats including video conferencing.
Share