Reform of the Legal Framework of ICA Activity in Russia: Prerequisites, Conditions, Perspectives
Abstract
The article provides an overview of the updated national legislative approach to the legal regulation of activities of institutional international commercial arbitration institutions in the country based on the provisions which shall take effect from September 1, 2016 the new Federal Law of 29.12.2015 no 382-FZ On Arbitration (Tribunal) in the Russian Federation. The author identified the negative factors determining the necessity to develop and approve this law and its majour novels. Among them, the author specifies new concepts of arbitration, the issues of drafting arbitration agreements, updated list of principles of arbitration tribunal. A special attention is drawn to the norms concerning the establishment of the current arbitration institutions. The paper compares this legislative approach with the liberal one which provided a wider freedom under the Federal Law of 24.07.2002 no 102-FZ On Arbitration Courts in the Russian Federation. Besides, the paper analyzes the provisions of the new Federal Law no 409-FZ, which is to come into force from September 01, 2016 and amend the Law on the ICA, the Arbitrazh Procedure Code, Civil Procedural Code of the Russian Federation and other regulatory legal acts. The conclusion is made that the strict requirements to the formation of permanent arbitration institutions and the establishment of significant restrictions on the organizations in which arbitral tribunals can be established, will enhance the role of the state in the arbitration proceedings, on the one hand, and avoiding the so-called pocket arbitration courts — on the other hand. The paper revealed the limitations set by the legislator for the arbitral tribunal formed by the parties to settle a dispute (ad hoc) in comparison with the arbitration administered by a permanent arbitral institution. The advantages of the Arbitration Act in the context of the provisions of the opportunities provided by its participants in the arbitral proceedings.
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