Regulatory Alerts2015-05-11
Arbitration (Amendment) Act, 2015
The House of Assembly of the Virgin Islands enacted this legislation to amend the Arbitration Act (Act No. 13 of 2013) by standardizing official publication references and clarifying regulatory rule-making powers. The Act inserts the word “Gazette” into Sections 1, 87, 95, 99, and Schedule 4, while Section 2 receives a corresponding editorial addition. Section 107 is substantially revised to empower the Board with rule-making authority, define fit and proper appointment criteria, and authorize the BVI IAC to exercise those powers if the Board remains unappointed, with commencement deferred to a Governor-appointed date.
1 No. 6 of 2015 VIRGIN ISLANDS ARBITRATION (AMENDMENT) ACT, 2015 ARRANGEMENT OF SECTIONS Section
- Short title and commencement.
- Section 1 amended.
- Section 2 amended.
- Section 87 amended.
- Section 95 amended.
- Section 99 amended.
- Section 107 amended.
- Schedule 4 amended.
2 No. 6 of 2015 Arbitration (Amendment) Act, 2015 Virgin Islands
I Assent (Sgd.) John S. Duncan, OBE, Governor. 23rd April, 2015 VIRGIN ISLANDS No. 6 of 2015 An Act to amend the Arbitration Act (Act No. 13 of 2013). [Gazetted 11th May, 2015] ENACTED by the House of Assembly of the Virgin Islands as follows: Short title and 1. (1) This Act may be cited as the Arbitration (Amendment) Act, 2015. commencement. (2) The provisions of this Act shall come into force on such date as the Governor may, by proclamation published in the Gazette, appoint. Section 1 2. Section 1 (2) of the Arbitration Act (hereinafter referred to as “the principal Act”) is amended. amended by inserting after the words “published in the”, the word “Gazette”. No. 13 of 2013 Section 2 3. Section 2 (5) of the principal Act is amended by adding the word “Gazette,” at the amended. end of the opening paragraph. Section 87 4. Section 87 (2) of the principal Act is amended by inserting in the closing paragraph amended. after the words “published in the”, the word “Gazette”.
3 Section 95 5. Section 95 (2) of the principal Act is amended by inserting after the words “published amended. in the”, the word “Gazette”. Section 99 6. Section 99 (1) of the principal Act is amended by inserting after the words “published amended. in the”, the word “Gazette”. Section 107 7. Section 107 of the principal Act is amended amended. (a) by repealing subsection (1) and substituting the following subsection: “(1) Subject to subsection (3), the Board may make rules for the purposes of giving effect to the provisions of this Act.”; (b) in subsection (2) (i) by deleting the word “and” at the end of paragraph (g); (ii) by inserting after paragraph (g), the following new paragraph: “(h) define what parameters constitute a fit and proper criteria with respect to appointments under the Act; and”; and (iii) by renumbering the current paragraph (h) as paragraph (i); and (c) by repealing subsection (3) and substituting the following subsection: “(3) If at the time that rules are to be made under this Act, the Board has not been appointed, the BVI IAC may make rules under this section.”. Schedule 4 8. Paragraph 8 of Schedule 4 of the principal Act is amended by inserting after the amended. words “published in the”, the word “Gazette”. Passed by the House of Assembly this 17th day of March, 2015. (Sgd.) Ingrid Moses-Scatliffe, Speaker. (Sgd.) Phyllis Evans, Clerk of the House of Assembly.